“So even if a consumer is shopping very closely to a budget, there are occasions and there are categories where they're willing to buy the premium version of whatever it may be.” “ different tiers can be very useful because consumers don't constrain their shopping within a specific tier,” Balanko said. Where customers choose to trade up with private brands can be “all over the place,” Balanko said, but noted it’s more prevalent in certain categories such as health and wellness and snacks if the premium offering has a “culinary distinction and true novelty.” In recent years, retailers have turned to strategies like developing additional pricing levels or bringing more brands to each of the tiers they have, she said.Ĭonsumers shop more by occasion and have different preferences and price elasticity across categories, Balanko said. Pricing tiers, especially in the middle, have become more granular, said Balanko. Revamping brand tiersĪs grocers build out their private brand assortments, they are transitioning away from focusing tiers just on price extremes of super high or very low, and instead evolving to have more price options or offer different value propositions. ![]() “People are using foods for preventative maintenance more than they ever have” as they look to live longer and avoid costly medical bills, Baker said. ![]() ![]() From Amazon’s plant-based offshoot of its Fresh line to Hy- Vee’s gluten-free Good Graces brand, grocers are offering more better-for-you and health-focused options.
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