According to the Private Label Manufacturers Association, 2014 was a good year for store brands, which generated nearly $3 billion in incremental sales overall. The total represented an increase of 2.5% over the previous year, more than twice the percentage gain that was recorded by national brands, PLMA declared.
Total sales of private label products in the United States were $115.3 billion, PLMA stated, which continued a growth trend that advanced the total by $5.5 billion over a three-year period.
In launching its 2015 Private Label Yearbook, PLMA added that store brand dollar share gained across all outlets combined, including supermarkets, drug chains, mass merchandisers: a group that, for the organization, consists of the discounter, the club and dollar store channels.
Store brand dollar market share advanced in the three-year period from 17.3% to 17.7%, PLMA asserted, adding that gains registered similarly in the individual retail channels. Over that period, the annual sales volumes for store brands have risen by $2.5 billion in supermarkets, by $200 million in drug chains and by $5.6 billion in mass merchants, PLMA pointed out in the yearbook.
Today, PLMA noted, store brand unit and dollar shares now stand at 23.1% and 19.5%, respectively, in supermarkets, 17.3% and 16.5% in drug stores, and 21% and 17.7% in all outlets combined, including mass merchants.
PLMA defines store brands as all merchandise sold under a retail store’s private label, which can sell under the chain’s own eponymous name brand or a brand name created exclusively by the retailer for its stores.
The 2015 PLMA Yearbook tapped data provided by The Nielsen Co. for the 52 weeks ending December 27, 2014, covering more than 700 product categories, according to PLMA.