Consumers are embracing store brands over leading national brands due to half the price and private label competition, leading to a shift in consumer behavior and challenging established retail brands.
Gen Z-ers are the least brand loyal generation, relying more on reviews from people they trust and online communities, showing a trend of 'de-branding' behavior.
The shift in consumer behavior towards store brands and away from leading national brands has been accelerated by factors like food inflation, driving prices higher for goods consumed 'away from home.'
Retail industry observers are questioning the importance of branding in the midst of a complex marketing revolution, with the recent focus on consumers favoring private label goods and moving away from established brands.
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