Over 52% of Indian consumers are now switching to private labels, driven by rising price sensitivity and a growing belief in their quality, according to the latest EY Future Consumer Index.
The report finds that shoppers in India are increasingly reassessing the value of branded products, with 69% saying private labels help them save money. Moreover, 70% believe these store brands meet their needs just as well as more expensive branded items.
Private labels, also known as store brands or in-house brands, are products manufactured and sold under a retailer’s own branding, rather than that of a well-known national or international brand.
These items are typically positioned as more affordable alternatives and are sold exclusively through the retailer’s own outlets, whether physical stores or online.
Even as traditional brands try to innovate or change their product formulas, many consumers remain sceptical. About 34% view these changes as cost-cutting tactics, not genuine improvements.
Meanwhile, 59% of Indian shoppers say they only buy branded goods when they are on sale. “Retailers are confidently pushing private labels, giving them more shelf space and visibility,” said Angshuman Bhattacharya, Partner and National Leader, Consumer Products and Retail Sector, EY-Parthenon.
“This shift seems more permanent than past changes. Technology is playing a big role, offering shoppers more options and tools to compare before buying.”
Full article Indian consumers prefer store brands over famous labels: Report - Brand Wagon News | The Financial Express
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