Store brand sales in the United States achieved a new record in 2022, jumping 11.3% to a whopping $228.6 billion versus the prior year, IRI Unify sales data according procured by the New York City-headquartered Private Label Manufacturers Association’s (PLMA). Sixteen of 17 retail departments tracked recorded private label gains, with frozen foods up 8.2% to $17.7 billion.
Overall, store brands performed so well that they grew at nearly twice the rate of national brands, which increased 6.1% in dollar sales, according to the IRI data. The findings are published in PLMA’s just released 2023 Private Label Report, available here.
“The store brands business is booming,” said PLMA President Peggy Davies. “Last year’s record sales and double-digit growth reflect the strong consumer demand for store brands. Shoppers are filling their baskets with great-tasting, innovative and high quality store brand foods, beverages, nonfoods, household goods and many other categories.”
Dollar share increased to 18.9%, up from 18.2% in 2021. Unit share grew to 20.5%, from 19.9%. A major reason for the double-digit surge was that the inflationary environment motivated more shoppers to try, buy, like and remain loyal to store brands because of the quality and value they provide.
While private brand unit sales slipped 1% in 2022, they outperformed national brand unit sales, which dropped -4.1%.
The top five fastest-growing segments were beverages, up 19% to $12 billion; deli prepared foods, +17% to $5.9 billion; and refrigerated foods, +17% to $47.4 billion; liquor, +15.6% to $62 million; and general food, +14% to $38.6 billion.