"Grocers have rebranded and grown their portfolio of private label brands over the past several years to cater to consumers pressed by inflation, and it's paid off as the highest-earning shoppers make up an increasingly large share of the economy. Nowhere is this more true than Walmart, the leading grocer since 2019, which launched a new private label called Bettergoods in 2024 that includes products that are plant-based, organic, or gluten-free."
"The company reported quarterly revenue of $179.5 billion, up 5.8%, and said high-income households were part of the reason why. "We continue to benefit from higher-income families choosing to shop with us more often," Walmart CEO Doug McMillon said on the company's earnings call late last month. Upgraded, design-ified generic brands aren't just boosting high-income shopping, though. The report found 68% of shoppers across all income groups believe store brands offer quality that is as good or better than national brands, and switching to store brands was the No. 1 way shoppers said they cut their grocery bill."
Generic store-brand groceries are increasingly present in American pantries, fridges, and freezers across all income groups. Among households earning more than $100,000 a year, 82% increased the frequency of buying store-brand groceries "often" or "very often." Households earning less than $100,000 reported a 74% increase. Grocers have rebranded and expanded private-label portfolios to address inflationary pressure, improving product quality and design. Walmart launched Bettergoods in 2024 with plant-based, organic, and gluten-free items targeting higher-income shoppers and reported revenue growth. Sixty-eight percent of shoppers across incomes believe store brands match or exceed national brands' quality, and switching to store brands is the top way shoppers cut grocery bills.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]