Products with private label recorded a 4.7% growth in sales in dollars, reaching $236.3 billion in 2023, compared to the previous year, according to the PLMA 2024 Report, cited by European Supermarket Magazine.

National brands were surpassed

Sales increased by $10.1 billion between January 1 and December 31, 2023, compared to the previous year.

The performance of store brands exceeded national brands, which increased by 3.4% in dollar sales, the study shows.

The annual report analyzes store brand and national brand sales in unit and dollar sales in key categories and is based on sales figures from the PLMA/Circana Unify+ market data portal.

Compared to 2019, annual dollar sales of store brands increased by $60.2 billion in 2023, registering a 34% growth, the study shows. The store brand dollar share increased by 1.2 points to a record 18.9%, noted PLMA.

Over the four years, store brand unit sales were up by 500 million, and the unit share improved by 0.8 points to 20.7% - also a new high.

"Healthier than ever"

"In general, the industry is healthier than ever," said PLMA President Peggy Davies in the report. "One in five food or non-food items sold in the US carries the retailer's name or own brand and has been supplied by a store brand manufacturer."

According to the report, nine out of 10 categories tracked by Circana experienced growth compared to the previous year. Tobacco was an exception and continued to decline overall.

The largest year-over-year growth was observed in beauty products (+0.5%); general merchandise (+10%); beverages (+8.9%); home care (+8.7%); frozen (+4.4%); and general merchandise (+4%).