Domestic private brand sales hit a record last year, increasing 11.3 percent to $228.6 billion compared to the year before, according to research from the Private Label Manufacturers Association’s 2023 Private Label Report.
Store brands grew at nearly twice the rate of national brands, which were up roughly 6.1 percent in dollar sales, according to PLMA’s sales data.
“The store brands business is booming,” said PLMA President Peggy Davies in a statement. “Last year’s record sales and double-digit growth reflect the strong consumer demand for store brands. Shoppers are filling their baskets with great-tasting, innovative, and high-quality store brand foods, beverages, nonfoods, household goods, and many other categories.”
Of the 17 departments IRI tracks, 16 showed store brand growth. The fastest-growing were beverages, up 19 percent, deli prepared foods (17 percent), refrigerated foods (17 percent), liquor, (15.6 percent), general food (14 percent), floral (13.5 percent), bakery (12.6 percent), produce (11.9 percent), and deli meat (10 percent).
Dollar share increased to 18.9 percent, up from 18.2 percent in 2021 and unit share grew to 20.5 percent, from 19.9 percent. The inflationary environment motivated more shoppers to try private label products and incorporate them into their shopping journey, the report finds.
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