Shoppers Trade Down to Private Brands

According to a report covered by CNNMoney.com, shoppers trading down to private brands is among the most prevalent changes in shopping behavior. Specific stores that have seen this change include Wal-Mart, Best Buy and Kohls. Each of these stores have extended their private label offerings to entice shoppers and keep them shopping in the stores. The CNNMoney report also says that retailers also will likely downsize their packaging, store size and even their growth expectations, as part of a long-term trend to emerge from the economic downturn that's changed consumer behavior. The report covered in the CNN article was from a joint report of consulting firms PricewaterhouseCoopers and Retail Forward.