In personal care, the share of unit sales from the cheapest quartile of goods surged by 96% from January 2019 to April 2024.
Groceries with low inflation saw revenue grow by 13.4%, while high inflation items experienced a revenue decline of 15.6%.
Consumers are increasingly trading down on price, evident in shifts seen across various industries from personal care to restaurants and even pool installations.
The shift towards store brands is significant, with companies like Perrigo, Target, and Walmart capitalizing on the trend to offer more affordable options.
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