Daymon report reveals consumer shift to private brands, spurring new innovation

peter frost

The recently released 2023 Private Brand Intelligence Report, based on a survey conducted by Daymon, an Advantage Solutions company, indicates that 92% of consumers trust private brands as much as or more than national brands. Further, 83% of consumers view private brands as a better value for their money than national brands.

“Increasing levels of trust, quality and value are prompting consumers to flock to private brands in record fashion,” says Jim Griffin, president of Daymon North America. “It’s a huge opportunity for suppliers and retailers to invest in innovation and leverage the shifting consumer perceptions of and desire for private brands.”

The rising consumer affinity for private brands is prompting development in three innovation pillars that are shaping product and retail innovation across both food and non-food categories.

To learn more insights from the 2023 Private Brand Intelligence Report, download the report here.