Brand loyalty on decline amid big shift in shopper behavior

As consumers grapple with inflation, tariff uncertainty and a difficult macro-economic environment, they are prioritizing cost over brand loyalty.

The overwhelming majority (77%) of consumers are actively changing their purchase behavior in response to price increases, according to EY’s “Future Consumer Index,” which surveyed more than 20,000 consumers across 26 countries. Slightly more than a third (34%) no longer consider brands when making purchasing decisions, with 54% of respondents only buying branded products when they are on sale.

The increasing adoption of private label products is reshaping consumer perception, making store brands the preferred alternative to traditional branded options — 67% say private label satisfies their needs just as well as branded products. Thirty percent of respondents say they no longer consider brands at all when making purchasing decisions.
more at: https://chainstoreage.com/brand-loyalty-decline-amid-big-shift-shopper-behavior