According to big consumer goods companies, the Great Recession drove people from branded products to cheaper store- brand options- “private label” products.
Researchers have examined household income and wealth fluctuations in recent years and tracked how fluctuations affected shopping habits, controlling for changes in products’ pricing.
In a trend that predates Great Recession, private-label goods are rising as a portion of total consumer goods expenditure, by half a percent a year.
Researchers tested whether the introduction of new private-label products or a move toward higher quality private-label items might have been the root cause of this, but find no evidence either.
Consumer goods companies can’t just wait for the recession to go and wait for rising income to increase share.
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