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 — a leading indicator of emerging consumer retail trends.
Innovation Pillar 1: Purchasing With Purpose
Consumers are leading the charge making intentional purchasing decisions, seeking items with positive health, environmental, social and community impact. According to the report, 83% of consumers are interested in a healthier lifestyle, leading 70% of consumers to exert more effort into selecting nutrient-dense and healthier foods than they did a year ago.
Nearly one-third of shoppers say they are looking for retailers to help guide them to make healthier decisions and are interested in retailers providing more free samples to try new items. Beyond plant-forward options, consumer interest in total sustainability is also driving purposeful purchasing, with 83% of consumers wanting more non-food, sustainable offerings.
Innovation Pillar 2: Fit for Functionality
Consumers expect brands and products to do more than ever — with multifunctional features that meet lifestyle demands and address health concerns. Ninety-four percent of consumers view private brands as just as good or better than national brands in offering lifestyle-fitting products.
One in four shoppers (excluding Boomers) are interested in dietary-specific private brands such as gluten-free, keto, and plant-based. Meanwhile, 61% of shoppers want affordable and convenient private brand options, and 35% seek products with functional ingredients.
Innovation Pillar 3: Uniquely for Me
Shoppers are increasingly drawn to brands that offer personalization and sensory-rich experiences — from bold flavors to aesthetic packaging. According to the report:
- 78% of consumers seek out new food and beverage flavors and trends.
- 30% say bold, unique flavors increase their likelihood to try a new product.
- More than 75% have a positive view of private brands that launch new flavors and limited-time offerings.
Consumers say these flavors enhance the in-store experience and keep them returning to retailers who bring joy and innovation to the shelf.
To learn more insights from the 2023 Private Brand Intelligence Report, download the report here.
