American consumers are showing more loyalty to regular CPG brands than they did 3 years ago, according to new survey results from IRI Worldwide. Some 39% of respondents indicated that they are trying new brands priced below regular brands, down from 46% reporting this behavior in Q2 2011. Similarly, fewer respondents – 31% in Q2 compared to 39% in Q2 2011 – are giving up some of their favorite brands. Despite those positive trends, few consumers only purchase their preferred brands over cheaper options.
In this year’s survey, 15% of respondents reported purchasing only preferred brands, though others are less expensive. That represented a slight uptick from 12% in Q2 2011, but was still outweighed by the share of consumers trying brands priced below regular brands. Read the rest at MarketingCharts.