Deloitte survey: Shoppers continue to leave national brands behind
America’s national food, beverage and household brands struggle to regain favor in the hearts and minds of U.S. consumers for the fifth year in a row, according to Deloitte’s (deloitte.com) annual American Pantry Study of more than 354 brands across 34 product categories.
Nearly 3 in 4 (73%) consumer packaged goods (CPG) categories show an overall decline in their brands’ “must-have” status, meaning that shoppers would purchase whether on sale or not. However, this year’s study also showed a drop in store brands’ appeal, improved consumer perceptions of the economy, and shoppers’ willingness to pay a premium for attributes such as health and convenience – which may signal a turning point that is set to further disrupt the CPG industry after years of consumer caution.