Retail brand clout fades as savvy consumers shop around

A retail industry trend that was gathering steam just before the pandemic struck is now back in the news with a report that suggests profound changes are developing in consumer behavior. Retail industry observers are starting to ask if brands matter anymore. Maybe, but not the way they have. Branding is in the midst of a complex marketing revolution. 
The harbinger at the moment is food inflation. “Consumers Fed Up With Food Costs Are Ditching Big Brands,” was the headline on a recent story in the Wall Street Journal about how inflation and private label competition are squeezing companies like Starbucks, McDonald’s, and Kraft Heinz.