Store brands have traditionally proliferated when inflation or a recession spurs consumers to spend more conservatively. But as store brands become more premium and fill specific customer needs, price is no longer the only driving factor.
Consumers are moving beyond grocery when it comes to buying private label, and into other categories like home decor, apparel, and beauty. Retailers seeing this shift are introducing new product lines across customer segments, from Bed Bath & Beyond’s minimalist home decor line, Studio 3B, to JCPenney’s recently launched Mutual Weave, its first denim-focused menswear brand. Even Dollar General has released a skincare line extension under its Believe Beauty brand, touting the products as vegan and cruelty-free.