National brands showing momentum in drug stores; private label standing out in mass/supercenter channel
January 20, 2015
During the recession, private-label products enjoyed increasing popularity as consumers looked for new ways to save on everyday purchases during the economic downturn. In fact, U.S. consumers spent $120 billion on private-label products during the past year, marking a year-over-year increase of 2.1 percent, according to Chicago-based Information Resources Inc. (IRI). However, this growth now seems to be leveling off, and this small uptick was largely driven by price increases, it reports.
Social media channels have allowed many of us to make connections that previously weren’t possible. For instance, my Swedish penpal from when I was in third and fourth grade found me on Facebook a few years ago, allowing us to make the international connection once again.
In today’s fast-paced world with little down time, consumers are looking for quick, in-and-out shopping trips that fit into their busy lifestyles, says Susan Viamari, editor of thought leadership at Information Resources Inc. (IRI), Chicago.
According to IBISWorld’s July 2012 report, “Warehouse Clubs & Supercenters in the US,” supercenters are one of the fastest-growing industries in the retail sector and have shown consistent growth during the last five years.