Buying Motivation Toward Supermarkets’ Private Label Products Among Millennials Due to The Covid-19 Crisis in Peru

DOI

10.2991/978-2-494069-25-1_28How to use a DOI?

Keywords

Private label brands; millennials; purchase drivers; economic crisis; supermarkets

Abstract

The presence of private label products on supermarket shelves in Peru is becoming more and more frequent; it is possible to notice a bigger effort by retail companies to position their products through marketing and advertising strategies, trying to leave behind the reputation of low quality that they used to have to compete directly with the leaders of the category. As a result of the pandemic produced by Covid-19 and the impact it had on the economy, purchasing behavior has changed dramatically, consumers have become more selective about the products they buy and the prices they are willing to pay. The opportunity arises in terms of private labels’ accessible prices to be able to enter the purchasing possibilities of millennial consumers, since that group is willing to try new brands as long as they are aligned to their needs, such as the economic limits experienced by the pandemic. The objective of this research seeks, through in-depth interviews, to determine how the purchase motivation towards supermarket private label brands has changed according to millennials from the socioeconomic level B due to the Covid-19 crisis. In this way, it was discovered that for millennial consumers brand loyalty is not something present, on the contrary, they look for brands that make their lives practical; In the current context, their motivation towards private labels arises because they offer a price that fits with the consumer’s purchase budget, likewise, another important factor was finding that the preference towards these brands is based on a solid marketing strategy that covers the positioning of the supermarket, the accessibility of private label products, exclusive offers, and digital shopping channels.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Ariana Tafur
AU  - Francisco Arbaiza
PY  - 2022
DA  - 2022/12/10
TI  - Buying Motivation Toward Supermarkets’ Private Label Products Among Millennials Due to The Covid-19 Crisis in Peru
BT  - Proceedings of the 2022 International Conference on International Studies in Social Sciences and Humanities (CISOC 2022)
PB  - Atlantis Press
SP  - 294
EP  - 303
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-25-1_28
DO  - 10.2991/978-2-494069-25-1_28
ID  - Tafur2022
ER  -