Private Label Sales Ring Up Another Record Year
NEW YORK — Sales of store brands increased $9 billion to a record $271 billion in 2024 compared to 2023, the Private Label Manufacturers Association's (PLMA) latest Circana Unify+ data reveals.
This represents a 3.9% rise in dollar sales in all outlets from Jan. 8 to Dec. 29, 2024 vs. the same period in 2023. Private label growth outpaced national brands, which grew 1% in dollar sales.
"Sales of store brands hit a record high last year," said PLMA President Peggy Davies. "The quality, value and innovation that store brands provide can't be beat."
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%.
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All 10 food and nonedible departments that Circana 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%).
The news of the record $271 billion in store brand sales comes during the January debut of Store Brands Month. The monthlong, direct-to-consumer program is a partnership between retailers and manufacturers to promote the quality, value and excellence of store brands to shoppers.
More detailed insights and information, including top category sales and monthly trends, will be revealed in PLMA's "2025 Private Label Report," which will be released in February.
PLMA is a nonprofit trade organization founded in 1979 to promote the store brands industry. With executive offices in New York and International Council offices in Amsterdam, PLMA represents more than 4,500 member companies worldwide.