NEW YORK — Four in 10 consumers polled in February said economic conditions had gotten worse in the past few months, 42% said they stayed the same, and fewer than one in five thought they’d improved, according to GfK research conducted for the Private Label Manufacturers Association here.
More than two-thirds (69%) of those polled plan to take advantage of discounts by buying larger sizes or quantities for items they regularly buy, 67% will look for more coupons and promotions on national brands, and 36% intend to change the stores or types of stores where they do their primary grocery shopping.
Many are also relying more on private labels. The study found that more than 57% buy private-label products “frequently” compared with under 55% a year ago, and 43% recently passed over a familiar national brand for a private-label counterpart, up from 35% in June.
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