While blue-collar and large families have traditionally been some of the biggest stalwarts of private-label products, a new report from Nielsen shows some surprising new fans: Younger women, and families earning $100,000 a year or more.
"It wasn't until fourth-quarter 2008 that we started to see these big shifts, driven largely by affluent households," Todd Hale, SVP/ Consumer & Shopper Insights, tells Marketing Daily. "These are now among the fastest users." By March 2010, Nielsen reports, store brands had a 17.3% share of dollar sales in the U.S. and a 21.9% share of units — up 2.1 and 1.9 points, respectively, from 2007.
Also telling, he says, is the continued enthusiasm among younger shoppers, including Gen Y and Gen X. "It's the younger ones turning to store brands much more than older people." He says about half of both Millenials and Gen X shoppers say they are likely to turn to private labels, versus 41% of Baby Boomers and 35% of the Greatest Generation.
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