More than 30% of Gen Z and Millennials in Europe buy more private brands now compared to before the pandemic, according to a new PLMA study. The research included 6.500 consumers from 8 countries: France, Germany, Italy, the Netherlands, Poland, Spain, Sweden, and the UK.
The main finding of the survey is that private label is more popular now than ever, as one in three consumers buys more private label now than before the pandemic.
Economic challenges and other disruptions were likely to have pushed consumers towards private label, as it is often perceived as offering more value for money. The average percentage of consumers aiming to buy more private label in the following two years stands at 40%, with UK leading (48%).
The price of products has understandably gained significance: more than half of all interviewed consumers say price is more important now than it was before the pandemic, PLMA’s data shows.