Close to 90 per cent of Canadians say they plan to pivot away from brands to private labels during the holiday shopping season according to a survey by EY Future Consumer Index.
With sudden supply chain interruptions and store closures across the globe, many consumers have had to switch up their typical buying habits to try new products and purchasing methods when their go-to brands weren't available," says Lokesh Chaudry, EY Canada consumer co-leader. "Private labels have grown in popularity as North American retailers worked hard to invest in their private label programs by offering innovative products, flavours and pricing promotions."
When choosing a product, the survey shows that Canadian consumers are focused on price (60 per cent) and availability (40 per cent), with 62 per cent reporting they are thinking more carefully about how they spend their money.
"Importantly, it's not just the value-conscious consumers who are expressing a significant interest in private label," says Ryan Beck, EY Canada consumer co-leader. "Consumers defined by their desire to prioritize local businesses, or put the planet or society first, show high levels of interest in private label products as well."