As consumers face increasing prices and recessionary pressures, retailers and brands are adjusting their promotions to support them in those challenges.
Numerator, a market research company with first-party, consumer-sourced data, continues to track purchase data and survey verified buyers to understand these shifts in consumer behavior.
Private label continues to be elevated compared to the prior year, according to the company’s Promo Shift Dashboard: Almost one-third of December 2022 promotions featured a private brand. Share of voice for private-label brands is up by almost 10 percentage points in December 2022 compared to December 2021.
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This data includes all products sold at retail, not just fresh produce.
Other findings include:
- To help consumers be able to celebrate the holidays after exceptional inflation, retailers provided more promotions focused on absolute savings, about 18% more versus a year ago, the data shows.
- More than 1 in 4, or 27%, of consumers say they would switch brands to take advantage of a deal.
- Data showed 32% of consumers often use coupons to save money, and 33% check store ads before shopping.
- Total promotional volume continues to be up by 12% compared to December 2021, driven by digital promotions.
