Study says consumers have more appreciation for store brands
According to a new survey, consumers have gained more appreciation for private brands during the novel coronavirus pandemic.
Acupoll Precision Research, a Cincinnati-based firm focusing on consumer product research, surveyed nearly 3,000 consumers over three waves in March to see how shopper behaviors have changed. One finding included that a quarter of respondents have more appreciation for store brand paper products including toilet paper now than they did before the pandemic; 23% have more appreciation for store brand food products now than before. More than 70% of respondents feel the same as they always have for private label products.
It’s an interesting finding, as panic buying has caused some shoppers to buy store brand products when their national brand might have been out of stock. Walgreens’ category manager of paper products cited this as a learning they found from looking at toilet paper sales during the pandemic.
In that same mindset,41% of respondents have found a new appreciation for grocery pickup or delivery now than they had before. The pandemic with shelter in place rules have introduced many new American consumers to the services.
The study called “U.S. Consumer Attitudes about COVID-19” included other highlights such as:
- Ninety percent of respondents want companies to change how they advertise, focusing more on giving back to communities and educating consumers about the crisis;
- The poll found 60% have decreased their overall spending on items they deem “non-essential,” while 34% say they’ve decreased spending on items deemed “essential,” too; and
- Roughly 44% of consumers said they’re in an experimentation mode, branching out to try new products during this time.
For a full look at the report, go here to download.