ST. PETERSBURG, FLA. — Baking mixes and soup are among the private brand categories benefiting from inflationary concerns, according to data from Catalina, an advertising services company.
Catalina tracked the impact of rising inflation and supply chain issues on grocery retailers’ private label brands using its shopper intelligence platform. Private label baking mixes posted the largest gains, with sales up 40% year-to-date through July 17, followed by soup (up 17%), prepared foods (up 12%) and dried vegetables (up 11%). Other private brand categories experiencing growth included canned fish (up 10%) and cereal (up 6%).
The rise in unit sales of private label staples like canned fish and soup suggest consumers are looking for affordable lunch and dinner solutions, said Sean Murphy, chief data and analytics officer at Catalina.
“The data clearly indicates that shoppers have become more price-sensitive and value-driven in recent months,” he said.
Catalina also found shoppers are purchasing more private label baby food and formula amid a nationwide shortage of brand-name products. Sales of private label baby food and formula grew 6% year-to-date through mid-July, according to the company.