Private Label Sales Are In
Sales of private label products increased $9 billion to a record $271 billion last year compared to 2023, according to the Private Label Manufacturers Association’s (PLMA) latest Unify+ data from market research firm Circana.
The latest numbers represent a 3.9% rise in dollar sales across retail channels from Jan. 8 to Dec. 29, 2024, versus the same period in 2023. Private label growth outpaced national brands, which grew 1% in dollar sales.
PLMA unveiled the record sales numbers in January, which the association designated as "National Store Brands Month" for the first time this year. PLMA said this annual month-long program "salutes the availability and quality of store brands across all retail channels," according to a media release.
"Sales of store brands hit a record high last year, once again outperforming national brands," Peggy Davies, PLMA president, said in the release. "These industry numbers without question add to the nationwide celebration of Store Brands Month promoting the quality, value and innovation of retailers' own brands."
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 nonedible departments that Circana’s Unify+ platform 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%).
