A survey from EY found that 72% of Irish consumers say own-brand or generic products, once seen as the second choice on the shelves, now meets their needs. This is higher than the global level of 67%.
The survey found that sentiment varies by category and while private labels are making strides in fresh food, confectionery and processed cupboard staples, branded goods continue to dominate in beauty and alcohol – categories where image, experience and indulgence remain important.
Colette Devey of EY Ireland said consumer behaviour has traditionally shifted during economic uncertainty and periods of acute price inflation.
According to the survey, financial concerns continue to dominate the Irish consumer mindset, with 96% concerned with the cost of living and 92% with their own personal finances. Price was the primary driver of consumer purchasing in Ireland.