Shopping Strategies of Low-Income Shoppers: Private Label vs Name Brands
While the U.S. economy appears to be on solid footing, income inequality is growing: 11.8% of U.S. households are food insecure, including 30.8% of households below 185% of Federal Poverty Levels.* With a shrinking middle class and a higher share of consumers now low income than in the past, a very large population size of consumers faces financial difficulties in affording everyday expenses, including food and beverage. From The Hartman Group’s The Business of Thrift 2018 report, here’s a look at one of the shopping strategies low-income consumers use to save money.
Report: The Business of Thrift 2018: Understanding Low-Income and Value-Oriented Consumers