PLMA: Store brands sales now surpass $110 billion
Oct. 3, 2013 ― With store brands now surpassing $110 billion in sales, the Private Label Manufacturers Association reported that shoppers are reaching for a retailer’s brand for one out of every four products they buy at the supermarket.
Mid-year market share was 23.3% in supermarkets. Across all channels, private label recorded sales gains of +4.6% annually on average from 2009 to the present, versus average growth of +1.6% for national brands, according to statistics published by The Nielsen Company.
The growth confirms reports in the New York Times as well as the current issue of Consumer Reports magazine regarding the popularity of store brands.
“The importance of store brands with today’s consumers,” according to PLMA President Brian Sharoff, “is based on the ability of retailers to identify product categories that reflect today’s lifestyles. From microwaveables to organics, retailers are in a better position than national brands to respond to shoppers’ needs and tastes.”