Great Value Cream Cheese Is Among The Fastest Growing Brands Of 2022
It was a banner year for certain brands despite record inflation. The very "now" brand of Meta was deemed the fastest growing of any brand in 2022, according to a new report put together by Morning Consult. Other brands that topped the list, like T-Mobile and Boost Mobile, cater to the more budget-minded consumer. By and large, the list of the 20 fastest-growing brands of the year, which was tweeted out by Mark J. Burns, included some pretty massive brands that most people would expect to see represented. But there, smack at the number 8 spot, was ... Great Value Cream Cheese? Whatever you say, boss!
In fact, the Walmart store brand's version of cream cheese was far from the only food item that scored a spot on the list. Fellow dairy product Chobani smooth yogurt was 11th, as well as the general Chobani brand at 16. A number of beverage brands also grace the list, including Gatorade Fit, Stōk Cold Brew, and Milwaukee products.
Each brand was chosen because they experienced increased "growth in purchasing consideration," which marks the shift between shoppers who considered purchasing the brand earlier in the year, compared with the number that said the same later in 2022, per Morning Consult. At least one commenter was critical of the methodology, however, replying to Burns's tweet saying, "They basically asked a group of randos if they've heard of a brand, then six months later asked a different (?) group, and called the difference 'growth,'" adding, "I'm dying."
Here's why Great Value cream cheese made the list
Morning Consult explains the heavy food and beverage list presence by saying, "Low price points meant these products saw bumps among the price-conscious." Compared with many of the other brands listed, like Beats by Dre, that certainly is true.
Rising grocery prices have definitely translated into choosier shopping habits in 2022. The USDA says that over the entire course of 2022, food-at-home prices are likely to have skyrocketed by 11% to 12%. Apparently, people are of the opinion that the cost savings of generic versus name-brand cream cheese are worth any taste differential. The Great Value option currently retails for 19.9 cents per ounce, a significant discount over Philadelphia cream cheese, which sells at Walmart for 37.3 cents per ounce.
When broken out by generation, however, it became obvious who was in favor of certain brands, the cream cheese, in particular. Apparently, Gen Z prefers food and beverage items like Heinz or GHOST Energy, and Millennials are more interested in Stōk Cold Brew, Gatorade Fit, and Captain Morgan Rum. Then there's Gen X, which opts for nostalgic brands from their youth, like Doritos and 3 Musketeers. Those Baby Boomers, however, are hitting the discount and multi-purpose brands hard, with Great Value cream cheese and Bisquick atop their list of preferred items, according to an in-depth breakdown by Food Industry Executive. Guess there are a lot of bagels and cheesecakes hitting the culinary rotation in Boomer households.