Private Label Sales Ring Up Another Record Year
Dollar sales rose 3.9% in all outlets from Jan. 8 to Dec. 29, 2024.
NEW YORK — Sales of store brands increased $9 billion to a record $271 billion in 2024 compared to 2023, the Private Label Manufacturers Association's (PLMA) latest Circana Unify+ data reveals.
This represents a 3.9% rise in dollar sales in all outlets from Jan. 8 to Dec. 29, 2024 vs. the same period in 2023. Private label growth outpaced national brands, which grew 1% in dollar sales.
"Sales of store brands hit a record high last year," said PLMA President Peggy Davies. "The quality, value and innovation that store brands provide can't be beat."
Over the past four years, annual store brand dollar sales have increased by more than $51 billion, a 23.6% gain. In addition, since 2021, store brand unit sales rose 2.3%, while national brands fell 6.8%.
All 10 food and non-edible departments that Circana tracks showed store brand dollar growth over the year before. Refrigerated (+7.5%), general food (+4.3%) and beverages (+4%) had some of the highest growth. In unit sales growth, the top departments were beverages (+3.5%), pet care (+3.5%) and home care (+3.3%).
If you do not have a Private Label Program it is important to get started. Remember that placement, price, and picking the right items are the top three things to pay attention to in your strategy.
A special report will be released in March about those strategies so stay tuned.
