NEW YORK — Sales of private label brands are setting records. Store brands reached all-time highs in both unit and dollar share during the first six months of 2024 vs. the year-ago period, according to new Circana sales data provided exclusively to the Private Label Manufacturers Association (PLMA).
Unit market share was 22.9% and dollar market share was 20.4% as of June 16.
"These record highs in market shares illustrate the 'store brands phenomenon' that's sweeping the retail industry across all channels, departments and categories," said PLMA President Peggy Davies. [Read more: Private Label Brands Reached Record Dollar Sales in 2023 ] The improved market shares came on the strength of store brands' superior performance at checkout vs. national brands.
Store brand dollar sales were up 2.3% vs. a gain of 1.
1% for national brands. In unit sales, the difference was even greater: store brands increased by 2.5% while national brands dropped 0.
8%. Total store brand sales for the six months of 2024 were $121 billion and national brand sales were $472 billion. Results in the 10 individual product departments that Circana tracks for PLMA paint a clear picture of where store brand sales are doing well.
It's nearly everywhere, as nine of the departments posted dollar sales gains for the 52 weeks ending June 16, reported PMLA. Categories that saw gains are: Beauty (+10%) Liquor (+8.8%) General food (+6.
9%) Home care (+6.8%) Pet care (+5.8%) Beverages (+4.
3%) Frozen (+2.9%) General m.