{"id":5617,"date":"2019-07-16T12:28:26","date_gmt":"2019-07-16T20:28:26","guid":{"rendered":"https:\/\/www.rangeme.com\/blog\/?p=5617"},"modified":"2021-10-07T14:45:10","modified_gmt":"2021-10-07T22:45:10","slug":"affluent-americans-seek-premium-products","status":"publish","type":"post","link":"https:\/\/www.rangeme.com\/blog\/affluent-americans-seek-premium-products\/","title":{"rendered":"Affluent Americans Seek Premium Products"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Last time we examined the retail impact of America\u2019s widening income disparity in <a href=\"https:\/\/www.rangeme.com\/blog\/value-shopping-still-soars-in-strong-economy\/\">Value Shopping Still Soars in Strong Economy<\/a>. But we also need to explore the other end of the socioeconomic spectrum, namely how higher-income consumers are driving demand for premium products. <br><br>According to Deloitte, between 2007 and 2017, income growth for U.S. households with mean annual earnings exceeding $100,000 rose a staggering 1,305% more than households earning less than $50,000.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_1');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_1');\" ><sup id=\"footnote_plugin_tooltip_5617_1_1\" class=\"footnote_plugin_tooltip_text\">1<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_1\" class=\"footnote_tooltip\"> Howland, Daphne. The wealth gap is a retail problem. Retail Dive. July 1, 2019.  <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_1').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_1', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> As a result, consumers with greater levels of disposable income are more discerning, and Nielsen reports sales of premium products are earning above-average growth in many fast-moving consumer goods (FMCG) categories.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_2');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_2');\" ><sup id=\"footnote_plugin_tooltip_5617_1_2\" class=\"footnote_plugin_tooltip_text\">2<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_2\" class=\"footnote_tooltip\"> What Makes A Premium Product? Marketing Charts. January 5, 2017. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_2').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_2', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><\/p>\n\n\n\n<p><strong>Why shoppers are going upscale<\/strong><br>In general, premium products offer benefits like superior quality ingredients, innovative features, and the peace of mind that comes from buying trusted brands, so these goods tend to command higher price tags.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_3');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_3');\" ><sup id=\"footnote_plugin_tooltip_5617_1_3\" class=\"footnote_plugin_tooltip_text\">3<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_3\" class=\"footnote_tooltip\"> Ibid.<\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_3').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_3', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script>\u00a0 Premium offerings also include <a href=\"https:\/\/www.rangeme.com\/blog\/purposeledbrands\/\">purpose-led brands<\/a> that adapt to consumer demand for more <a href=\"https:\/\/www.rangeme.com\/blog\/sustainability-boosts-brand-awareness-trust-sales\/\">sustainable<\/a> and ethical products.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_4');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_4');\" ><sup id=\"footnote_plugin_tooltip_5617_1_4\" class=\"footnote_plugin_tooltip_text\">4<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_4\" class=\"footnote_tooltip\"> Kynze, Katharine. Meet the \u2018Conscious Consumer.\u2019 Euromonitor International. January 21, 2019. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_4').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_4', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><\/p>\n\n\n\n<p>The allure of premium products is their emotional resonance, including consumer benefits of self-esteem and the pride of prestige. In a recent survey, consumers said buying premium products makes them feel good (52%) and confident (50%), and this upscale merchandise conveys to other people that they have good taste (45%) and are successful (41%).<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_5');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_5');\" ><sup id=\"footnote_plugin_tooltip_5617_1_5\" class=\"footnote_plugin_tooltip_text\">5<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_5\" class=\"footnote_tooltip\"> What Makes A Premium Product? Marketing Charts. January 5, 2017. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_5').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_5', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><\/p>\n\n\n\n<p>Premium products are particularly in demand in the following categories:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Grocery:<\/strong> U.S. consumers\u2019 appetite for more expensive food \u2013 including <a href=\"https:\/\/www.rangeme.com\/blog\/infographic-the-explosive-growth-of-natural-and-organic-timeline\/\">organic<\/a> products \u2013 has grown.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_6');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_6');\" ><sup id=\"footnote_plugin_tooltip_5617_1_6\" class=\"footnote_plugin_tooltip_text\">6<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_6\" class=\"footnote_tooltip\"> Comen, Evan and Thomas C. Frolich. The price of food: What groceries are driving up food bills? A look at the Top 20. USA Today. July 16, 2018.<br> <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_6').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_6', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> Since 2015, organic sales have grown by more than 15%, according to the Organic Trade Association.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_7');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_7');\" ><sup id=\"footnote_plugin_tooltip_5617_1_7\" class=\"footnote_plugin_tooltip_text\">7<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_7\" class=\"footnote_tooltip\"> Wells, Jeff. Private label sales soar, but grocers are off pace. Grocery Dive. November 14, 2018.<\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_7').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_7', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> Within grocery private label, Nielsen found premium product sales accounted for nearly one-third of dollar volume and drive most growth, clocking a rise of 8% in 2017. For instance, private labels account for a significant portion of both Trader Joe\u2019s and Aldi\u2019s assortments, including premium offerings like Aldi\u2019s new private label line of vegan foods.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_8');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_8');\" ><sup id=\"footnote_plugin_tooltip_5617_1_8\" class=\"footnote_plugin_tooltip_text\">8<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_8\" class=\"footnote_tooltip\"> \u00a0Stych, Anne. Premium private-label brand sales are on the rise. Biz Women. August 17, 2018.\u00a0 <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_8').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_8', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> In addition, a Progressive Grocer survey found Trader Joe\u2019s was consumers\u2019 top choice for private label brands.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_9');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_9');\" ><sup id=\"footnote_plugin_tooltip_5617_1_9\" class=\"footnote_plugin_tooltip_text\">9<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_9\" class=\"footnote_tooltip\"> Tierney, Tammy. Trader Joe&#8217;s the top choice for private label brands. Biz Women. October 5, 2018. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_9').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_9', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> However, these grocery retailers are the exception, as research firm IRI found that grocers&#8217; store brands may not be connecting with consumers&#8217; desire for premium offerings. These findings suggest there\u2019s room for further innovation in this space.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_10');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_10');\" ><sup id=\"footnote_plugin_tooltip_5617_1_10\" class=\"footnote_plugin_tooltip_text\">10<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_10\" class=\"footnote_tooltip\"> Thakker, Krishna. Mass retailer private label sales dominate national brands. Grocery Dive. April 23, 2019. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_10').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_10', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><br><\/li><li><strong>Pet:<\/strong> Americans adore their pets. More households have a pet (70%) than have children (41%) and in one survey 90% of pet owners agreed that \u201cPets are family.\u201d These pet lovers are more willing to splurge on luxuries like beds, toys, clothing, travel accessories, gifts and grooming services. That\u2019s why pet retailers and suppliers need to consider offering high-quality products in their assortment, as premiumization drives growth, including demand for premium and less processed pet food.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_11');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_11');\" ><sup id=\"footnote_plugin_tooltip_5617_1_11\" class=\"footnote_plugin_tooltip_text\">11<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_11\" class=\"footnote_tooltip\"> Danziger, Pamela N. The Pet Retail Market Is Hot And Getting Hotter By The Day. Forbes. October 18, 2018. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_11').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_11', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> Natural and grain-free pet foods are growing faster than legacy household brand names, and more consumers search online for raw pet food and breed-specific food. In response, PetSmart has expanded its premium assortments, and premium brands like Wellness, Blue Buffalo, and Nutrish earn first-page Amazon search results in the dog food category.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_12');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_12');\" ><sup id=\"footnote_plugin_tooltip_5617_1_12\" class=\"footnote_plugin_tooltip_text\">12<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_12\" class=\"footnote_tooltip\"> citation stuff <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_12').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_12', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script>\u00a0<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Beauty:<\/strong> Upscale beauty is also booming. The U.S. prestige beauty industry reached nearly $19 billion in 2018, a 6% year-over-year sales increase. The skincare category grew by 13% and accounted for 60% of the industry\u2019s total gains. Skincare products reached $5.6 billion in sales with natural skincare accounting for $1.6 billion of annual sales, up 23% since last year.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_13');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_13');\" ><sup id=\"footnote_plugin_tooltip_5617_1_13\" class=\"footnote_plugin_tooltip_text\">13<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_13\" class=\"footnote_tooltip\"> \u00a0U.S. Prestige Beauty Industry Sales Grow 6 Percent in 2018, Reports The NPD Group. NPD. January 29, 2019.<br> <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_13').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_13', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> The emergence of a global trend toward premium green beauty products shows strong demand for safe items that are free from harmful ingredients and luxurious items, including natural and organic products.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_14');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_14');\" ><sup id=\"footnote_plugin_tooltip_5617_1_14\" class=\"footnote_plugin_tooltip_text\">14<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_14\" class=\"footnote_tooltip\"> Raising the bar of Clean Beauty. Premium Beauty News. February 26, 2019.\u00a0 <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_14').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_14', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> Since the premium beauty segment is hot right now, Amazon just announced plans to make its Whole Foods Market chain a clean beauty destination.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_15');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_15');\" ><sup id=\"footnote_plugin_tooltip_5617_1_15\" class=\"footnote_plugin_tooltip_text\">15<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_15\" class=\"footnote_tooltip\"> Singh-Kurtz, Sangeeta. Amazon wants to make Whole Foods a beauty destination. Quartz. July 2, 2019. <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_15').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_15', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><\/li><\/ul>\n\n\n\n<p><strong>Winning retail strategies<\/strong><br>As U.S. income distribution shifts, Walmart has masterfully adapted its business strategy to accommodate increased demand for both value and premium offerings. Walmart understands the financial constraints of lower-income shoppers who struggle to make ends meet, so it focuses on delivering affordable products to help these consumers. In recent years, Walmart has also invested in attracting consumers with higher incomes by acquiring brands like Bonobos, collaborating with higher-end brands like Lord &amp; Taylor, and offering the convenience of Jetblack personal shopping service.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_16');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_16');\" ><sup id=\"footnote_plugin_tooltip_5617_1_16\" class=\"footnote_plugin_tooltip_text\">16<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_16\" class=\"footnote_tooltip\"> Danziger, Pamela N. Four Demographic Trends That Many Retailers Missed, But Not Walmart. Forbes. May 5, 2019.<\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_16').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_16', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script> <\/p>\n\n\n\n<p>In addition, grocery store brands from Aldi, Lidl and Trader Joe&#8217;s have demonstrated leadership by offering both affordable products and improved quality to attract both value and premium shoppers.<span class=\"footnote_referrer\"><a role=\"button\" tabindex=\"0\" onclick=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_17');\" onkeypress=\"footnote_moveToReference_5617_1('footnote_plugin_reference_5617_1_17');\" ><sup id=\"footnote_plugin_tooltip_5617_1_17\" class=\"footnote_plugin_tooltip_text\">17<\/sup><\/a><span id=\"footnote_plugin_tooltip_text_5617_1_17\" class=\"footnote_tooltip\"> Martino, Victor. The six mega-trends that will shape the US food industry in 2018. just-food.com. January 2, 20 <\/span><\/span><script type=\"text\/javascript\"> jQuery('#footnote_plugin_tooltip_5617_1_17').tooltip({ tip: '#footnote_plugin_tooltip_text_5617_1_17', tipClass: 'footnote_tooltip', effect: 'fade', predelay: 0, fadeInSpeed: 200, delay: 400, fadeOutSpeed: 200, position: 'top right', relative: true, offset: [10, 10], });<\/script><\/p>\n\n\n\n<p>Given U.S. consumers\u2019 growing demand for premium (and value) products amid widening income disparity, it\u2019s time for retailers and brands to consider whether to adapt their assortments to accommodate consumers\u2019 evolving needs. Companies in the grocery, pet and beauty categories may find the strongest case for expanding into premium products to capture more disposable income from high-income households. To stand out in this growing retail space, retailers and suppliers selling premium products should emphasize benefits like superior quality, greater variety and products that align with consumers\u2019 values.<br><\/p>\n<div class=\"speaker-mute footnotes_reference_container\"> <div class=\"footnote_container_prepare\"><p><span role=\"button\" tabindex=\"0\" class=\"footnote_reference_container_label pointer\" onclick=\"footnote_expand_collapse_reference_container_5617_1();\">&#x202F;<\/span><span role=\"button\" tabindex=\"0\" class=\"footnote_reference_container_collapse_button\" style=\"\" onclick=\"footnote_expand_collapse_reference_container_5617_1();\">[<a id=\"footnote_reference_container_collapse_button_5617_1\">+<\/a>]<\/span><\/p><\/div> <div id=\"footnote_references_container_5617_1\" style=\"display: none;\"><table class=\"footnotes_table footnote-reference-container\"><caption class=\"accessibility\">References<\/caption> <tbody> \r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_1');\"><a id=\"footnote_plugin_reference_5617_1_1\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>1<\/a><\/th> <td class=\"footnote_plugin_text\"> Howland, Daphne. The wealth gap is a retail problem. Retail Dive. July 1, 2019.  <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi\" ><a id=\"footnote_plugin_reference_5617_1_2\" class=\"footnote_backlink\" onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_2');\"><span class=\"footnote_index_arrow\">&#8593;<\/span>2,<\/a> <a id=\"footnote_plugin_reference_5617_1_5\" class=\"footnote_backlink\" onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_5');\"><span class=\"footnote_index_arrow\">&#8593;<\/span>5<\/a><\/th> <td class=\"footnote_plugin_text\"> What Makes A Premium Product? Marketing Charts. January 5, 2017. <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_3');\"><a id=\"footnote_plugin_reference_5617_1_3\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>3<\/a><\/th> <td class=\"footnote_plugin_text\"> Ibid.<\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_4');\"><a id=\"footnote_plugin_reference_5617_1_4\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>4<\/a><\/th> <td class=\"footnote_plugin_text\"> Kynze, Katharine. Meet the \u2018Conscious Consumer.\u2019 Euromonitor International. January 21, 2019. <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_6');\"><a id=\"footnote_plugin_reference_5617_1_6\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>6<\/a><\/th> <td class=\"footnote_plugin_text\"> Comen, Evan and Thomas C. Frolich. The price of food: What groceries are driving up food bills? A look at the Top 20. USA Today. July 16, 2018.<br> <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_7');\"><a id=\"footnote_plugin_reference_5617_1_7\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>7<\/a><\/th> <td class=\"footnote_plugin_text\"> Wells, Jeff. Private label sales soar, but grocers are off pace. Grocery Dive. November 14, 2018.<\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_8');\"><a id=\"footnote_plugin_reference_5617_1_8\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>8<\/a><\/th> <td class=\"footnote_plugin_text\"> \u00a0Stych, Anne. Premium private-label brand sales are on the rise. Biz Women. August 17, 2018.\u00a0 <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_9');\"><a id=\"footnote_plugin_reference_5617_1_9\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>9<\/a><\/th> <td class=\"footnote_plugin_text\"> Tierney, Tammy. Trader Joe&#8217;s the top choice for private label brands. Biz Women. October 5, 2018. <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_10');\"><a id=\"footnote_plugin_reference_5617_1_10\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>10<\/a><\/th> <td class=\"footnote_plugin_text\"> Thakker, Krishna. Mass retailer private label sales dominate national brands. Grocery Dive. April 23, 2019. <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_11');\"><a id=\"footnote_plugin_reference_5617_1_11\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>11<\/a><\/th> <td class=\"footnote_plugin_text\"> Danziger, Pamela N. The Pet Retail Market Is Hot And Getting Hotter By The Day. Forbes. October 18, 2018. <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_12');\"><a id=\"footnote_plugin_reference_5617_1_12\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>12<\/a><\/th> <td class=\"footnote_plugin_text\"> citation stuff <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_13');\"><a id=\"footnote_plugin_reference_5617_1_13\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>13<\/a><\/th> <td class=\"footnote_plugin_text\"> \u00a0U.S. Prestige Beauty Industry Sales Grow 6 Percent in 2018, Reports The NPD Group. NPD. January 29, 2019.<br> <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_14');\"><a id=\"footnote_plugin_reference_5617_1_14\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>14<\/a><\/th> <td class=\"footnote_plugin_text\"> Raising the bar of Clean Beauty. Premium Beauty News. February 26, 2019.\u00a0 <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_15');\"><a id=\"footnote_plugin_reference_5617_1_15\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>15<\/a><\/th> <td class=\"footnote_plugin_text\"> Singh-Kurtz, Sangeeta. Amazon wants to make Whole Foods a beauty destination. Quartz. July 2, 2019. <\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_16');\"><a id=\"footnote_plugin_reference_5617_1_16\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>16<\/a><\/th> <td class=\"footnote_plugin_text\"> Danziger, Pamela N. Four Demographic Trends That Many Retailers Missed, But Not Walmart. Forbes. May 5, 2019.<\/td><\/tr>\r\n\r\n<tr class=\"footnotes_plugin_reference_row\"> <th scope=\"row\" class=\"footnote_plugin_index_combi pointer\"  onclick=\"footnote_moveToAnchor_5617_1('footnote_plugin_tooltip_5617_1_17');\"><a id=\"footnote_plugin_reference_5617_1_17\" class=\"footnote_backlink\"><span class=\"footnote_index_arrow\">&#8593;<\/span>17<\/a><\/th> <td class=\"footnote_plugin_text\"> Martino, Victor. The six mega-trends that will shape the US food industry in 2018. just-food.com. 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