Private label sales have reached over $251 billion this year, driven largely by younger shoppers. Gen Z and Millennials are responsible for 81% of this growth, despite already representing the majority of households.
Their purchasing habits differ, with Gen Z favoring private labels in refrigerated and beverage categories, and Millennials preferring frozen foods. Higher-income shoppers are also adopting private labels quickly, suggesting they are seen as quality options.
Further details on this trend are available, including the reasons behind the growing popularity of private labels beyond just lower prices.
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