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New IRI Report Explores Private Brand Recovery Amid Inflation and Economic UncertaintyIRI®, which recently merged with The NPD Group to create a leading global technology, analytics and data provider, today released a new report exploring trends in private brand (also referred to as store brand or private label) products, which have not reached their expected growth amid 2022's economic uncertainties. The report, "Private Brands: Look Who's Buying Now," provides an update on the store brand landscape and identifies retailer opportunities to increase demand for their own brand and private brand offerings. "While consumers have historically navigated to store brand products to save money during challenging economic times, we're seeing that only modest gains have been made in private brand's share of the consumer wallet this year," said Mary Ellen Lynch, principal, Center Store Solutions, IRI. "Retailers must be hyper-focused on understanding their shoppers' needs and emerging opporunities to spur growth amid modest private brand trends throughout the entire retail landscape." Key insights from the report include: Who Is Buying Private Brand Products?
Which Private Brand Products Are Consumers Buying?
Where Are Consumers Buying Private Brand Products?
Opportunities for Private Brand Growth
IRI's Mary Ellen Lynch will cover the new private brands report in a webinar tomorrow, Nov. 30, at 1 p.m. CT. The free webinar will explore trends in private brands by category and suggest strategies for building private brand programs, both now and in the future. To register today, visit here. About IRI IRI unifies technology, analytics and data to reinvent how people and companies make decisions, take action and optimize performance. With the largest repository of purchase, media, social, causal and loyalty data, all integrated into an on-demand, cloud-based technology platform, IRI helps to guide its more than 5,000 clients around the world in their quests to capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.
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