PLMA: Store brand dollar sales hit new record in 2023

Private label brands achieved another strong year of sales in 2023 as consumers continued to focus on price. 

According to data from the Private Label Manufacturers Association (PLMA) using Circana Unify+ insights, sales of store brands increasing to a record-setting $236.3 billion, up $10.1 billion from 2022, representing a 4.7% rise in dollar sales in all outlets from Jan. 1 to Dec. 31, 2023 versus the same period the prior year. Store brands exceeded national brand growth, which increased 3.4% in dollar sales.

The record-setting sales of store brands were fueled by consumers’ continued price consciousness last year. Compared to 2019, annual store brand dollar sales in 2023 increased by $60.2 billion, a 34% gain, while store brand dollar share rose 1.2 points to a record 18.9%. During the four-year period, store brand unit sales were ahead by 500 million and unit share improved 0.8 points to 20.7%, also a new high.

"Overall, the industry is healthier than ever," PLMA president Peggy Davies states in the report. "One of every five food or non-food grocery products sold across the U.S. carries the retailer’s name or own brand and was supplied by a store brand manufacturer."

During 2023, of the 179 food categories that Circana follows, there were store brand sales recorded in 175, or 98%, showcasing the broad appeal of private label options. In the 138 nonfood categories, store brand sales appeared in 132, or 96%.

According to the report, nine out of 10 departments that Circana tracks showed growth in 2023 over the year prior. The outlier once again is tobacco, which continues to trend downward overall.

Departments with the highest dollar sales growth are

• Beauty, up 10.5% vs. 2022;
• General Food, +10%; 
• Beverages, +8.9%; 
• Home Care, +8.7%; 
• Frozen, + 4.4%; 
• General Merchandise, + 4%.

With executive offices in New York and International Council offices in Amsterdam, PLMA represents more than 4,500 member companies worldwide.