Consumers Still Turn To Private Label Products For Value, Affordability

A new report from researcher IRI shows that private label products have proven to be the answer for consumers looking to stretch their shopping dollars while finding value. Brand selections continue to be based on affordability: one-third of U.S. shoppers look for and choose private label products to save money. U.S. consumers spent $120 billion on private label products in 2014, an increase of 2.1 percent over 2013. But IRI says consumers are looking for value, not just low prices, so it’s important for retailers to stock national and private label brands offering value and affordability. National brand innovation has been strong in beauty products, while private label is strong in the mass/super channel.