It’s no secret private label brands are experiencing a strong surge during these times of high food prices.
During the first three months of this year, store brands picked up right where they left off in 2022, with double-digit sales increases and greater market share in both dollars and units, according to nationwide data provided to PLMA by Circana (formerly IRI and NPD). The figures include 2023 food and non-food sales in all outlets as of March 26.
“The Q1 results are particularly impressive since they are compared to 2022 sales figures, which were historically high for U.S. store brands,” said PLMA President Peggy Davies.
But how long will this growth continue? In this episode of SN Off the Shelf, Senior Editor Bill Wilson talks with Tom Prendergast, who is the director of Research Services for PLMA, about the current rise in private labels and if it is sustainable beyond inflation.
Take a listen.