New York CNN Business —With grocery prices soaring, consumers are changing the way they shop for food.
“Inflation is hitting everyone.”More consumers are additionally switching over to store brands, also called “private label,” which are often comparable in quality and lower in price.
“I don’t think you can underestimate the strength of all these private label offerings,” said Heather Lalley, editor in chief of Winsight Grocery Business, a trade publication.
“Now we’re seeing other retailers trying to emulate them.”In September, for example, Kroger (KR) announced a new budget private label brand called Smartway, which consolidates some of its other private label brands under one umbrella.
Aldi, for one, is rolling out a new tagline to explain what it’s all about: It’s An Aldi Thing.