Updated
Updated · Denver 7 Colorado News · Jun 30
Consumers Drop Brands After 16% Price Hikes as 60% Switch This Year
Updated
Updated · Denver 7 Colorado News · Jun 30

Consumers Drop Brands After 16% Price Hikes as 60% Switch This Year

3 articles · Updated · Denver 7 Colorado News · Jun 30

Summary

  • 60% of shoppers abandoned a brand they had been loyal to this year after price increases, and 70% said they are less loyal than a year ago, according to DOSS research.
  • A 16% price jump marks the main breaking point, with groceries hit first as 76% switched brands there and many moved to generics, private labels or cheaper national brands.
  • Discount chains, dollar stores and warehouse clubs gained the most shoppers, while traditional supermarkets and mass retailers lost the most as consumers traded down.
  • 37% of AI users in an Accenture survey said they would let a digital agent steer them to a different brand, adding a second pressure on loyalty beyond sticker shock.

Insights

With prices soaring, are private labels and discounters permanently ending the era of big-name brand dominance?
As AI assistants choose our products, how can brands build loyalty that a machine cannot just erase?