CHICAGO — Despite being more optimistic about the economy as they approach this winter holiday season, consumers will reserve a more prominent place for private brands at their holiday tables, according to a survey of 1,000 households conducted by Information Resources Inc.
Nine in 10 respondents plan to include store brands in their holiday meals this year, up from 87% last year, with the majority of these consumers (79%) doing so to stretch holiday budgets. Sixty percent of consumers believe that private labels are of comparable quality to national brands.
“Consumers are slightly more optimistic about the economy and therefore we’re going to see an increased desire to spend and enjoy the holidays, but they’ll do it in a savvy way,” Tim Ressmeyer, partner in consulting and innovation for IRI told SN.
Among other findings:
• Concerns about the price of food has dropped more than 20% this year (98% in 2008 vs. 77% in 2009).
• 92% of consumers will be doing their holiday food shopping at grocery stores based on sales and discounts.
• In 2009, more than 90% of shoppers are making gift-giving a priority, up nearly 3% from 2008.
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