Just over 70 per cent of Brits plan to keep buying supermarket own-label products over big-name brands even if inflation starts to ease, a new report has found.
According to leading consumer research platform Attest’s new food & beverage trends report, seven in 10 consumers have acquired a taste for supermarkets’ own-label brands and have no intention of reverting to more premium labels.
The survey of 1,000 people also revealed that 58 per cent of shoppers admitted to visiting multiple supermarkets in person to hunt for the best prices, with supermarket own-label brands benefiting from the rising cost of living, as shoppers turn away from more expensive household names.
More than 60 per cent of Britons say they are "very likely" to purchase these cheaper alternatives, with a further 30 per cent "somewhat likely" in a shift which could be “potentially permanent”.
Nearly all consumers (92 per cent) are bargain hunting and visiting different supermarkets for grocery. Additionally, when asked for the minimum discount that is persuasive, the top answer was a 20 per cent discount (for 38 per cent of people).
The data also highlights that consumers still believe it’s better to go to a store when searching for the best deals on groceries. Nearly 53 per cent of Britons think in-store shopping is best for bargain hunting, while only 13 per cent favour online.
“Faced with new pressures, British shoppers have evolved in behaviour, and have acquired a real taste for supermarkets’ own-label brands,” said Attest CEO Jeremy King.
“This shift is driven by rapid price rises for all grocery and household products and may be permanent for several important sub-segments. Well-known brands that can’t compete on price are the losers here and face significant challenges.”
“The big-name brands need to provide consumers with new, compelling reasons not to switch to own-label rivals, or in some cases motivate them to come back to big brands.”
“This puts supermarket chains under serious pressure to either offer the best deals that beat other retailers and attract consumers, or to extend their own-label product lines to offer ever-increasing appeal to inflation-weary consumers,” King said.
