This new survey produced by Deloitte shows a few interesting trends that are currently changing the CPG landscape. With the economy recovering, consumers are switching from store brand and generic items to higher priced craft brands and items that are perceived as new or innovative.
NEW YORK — A survey conducted by the consulting firm Deloitte shows consumer purchasing patterns may be shifting in favor of brands vs. private label. After years of focusing on value, consumers now are starting to express a greater interest in brands and the innovation many may offer, according to the consultancy’s annual American Pantry survey.
But the news for branded consumer packaged goods manufacturers was not all good. The survey of more than 354 brands across 34 product categories showed an overall decline in a consumer’s “must have” status. The consulting firm defined “must have” as meaning shoppers would purchase an item whether it was on sale or not.
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