Welcome to Hook Daily, Press Hook's daily article selection that those in the industry need to read. Whether it's insight from journalists or publicists, trends that should be on your radar, or ways to change up your work habits, we've scoured the internet to find the news you can use.
Today's pick: "Consumers are gravitating toward affordable, more reliable brands" from Retail Brew
"Compared to 2020 and 2021, last year saw far less overall purchase consideration among all brands, according to Morning Consult. Some brands toward the top either increased customer loyalty among new age demographics (Crocs) or provided consumers cheaper alternatives amid economic hardships (Chobani)."
Morning Consult took a look back at consumer trends for 2022 and found that consumers are, in fact, looking for more affordable options, something you likely already knew quite well. They know what they can expect in terms of price, quality, and more, and they're staying more loyal to brands they view as reliable.
Whether that's welcome news or something you find a bit more concerning, there's more to the story than just that. Head to the Retail Brew website to read more.