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Consumers are defecting from iconic CPG brands as they try to save money by purchasing less-expensive store and private-label brands.
While this trend is not new, it has become more pervasive since the economic downturn started in December 2007, per eMarketer.
In fact, 59 percent of U.S. consumers reported having switched to store brand food and household products over the past six months, according to a May 2009 study by ICOM.
A study by the CMO Council and Pointer Media Network found that among 12 leading CPG brands, only three experienced increases in the number of loyal consumers between the first half of 2007 and the first half of 2008.
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