This July 23rd, Nielsen News post from Todd Hale, Senior Vice President – Consumer & Shopper Insights examines the use of research to infer consumer insights. It is an insightful look at affluent consumers and their Private Brand shopping habits.
Don’t Believe Everything Consumers Tell You – Listen to What They Say in How They Buy!
A fellow Nielsen associate recently sent me an article she had received from a client about how private label was receiving high acceptance among even affluent American households. While I am a huge fan of the attitudinal insights from consumer survey data, I am also a huge fan of the behavioral insights from consumer panel data. The best of both worlds is when we get to integrate both data types in our analytical work in the consumer packaged goods industry. But turning back to the issue regarding private label development among more affluent households, if we examine annual private label buying over the four year period from 2004 through 2008 in the U.S., we find the following:(three)
- The top two income brackets in our analysis (those with incomes of $70,000 to $99,999 and $100,000 +) demonstrated the biggest increase in private label dollar sales moving from 32.1% in 2004 to 35.0% in 2008.
To read the entire article: Don’t Believe Everything Consumers Tell You – Listen to What They Say in How They Buy!