Do trusted brands still have the appeal?

In recent times there seems to be more reports in the media of people 'trading down' for more cheaper alternatives, due the increase in the cost of living. Certainly, in supermarkets, there has been evidence of consumers buying own brand goods. So, what happened to the mantra of a trusted brand being the mark of quality? In the current economic environment people seem happy to opt for reduced quality. Lidl was recently placed as the 5th largest supermarket in the UK. But the luxury market seems to be thriving. Luxury cars and fashion brands such as Dior are doing very well. It is the everyday luxury brands such as Heinz that will feel the pain, as shoppers turn to the value brands.