Skip navigation
private label (1).png Getty Images

Private label sales on pace to exceed $250B

PLMA says 2024 sales are capturing record market share

Sales of private-label products reached record-high market shares in both units and dollars in the first half of the year, according to Circana data released Tuesday by the Private Label Manufacturers Association.

Unit market share for private labels climbed to 22.9% of total unit volume, and dollar market share grew to 20.4% of total sales as of June 16, PLMA reported.

“These record highs in market shares illustrate the ‘store brands phenomenon’ that’s sweeping the retail industry across all channels, departments, and categories,” said Peggy Davies, president of PLMA.

Store brand sales for the first six months of 2024 totaled $121 billion, up 2.3% vs. the year-ago period. National brand sales grew 1.1% through the first half of 2024, to $472 billion.

In terms of unit volumes, store brands outperformed national brands to an even greater degree. Private label unit volumes rose 2.5%, vs. a decrease in unit volumes of 0.8% for national brands.

PLMA estimated that if sales continue at the current rate for the rest of the year, total store brand revenue for 2024 will exceed $250 billion, which would set a new record for annual sales.

Private label growth was widespread throughout most of the store, the association said. Nine out of the 10 store departments tracked by Circana had private label dollar sales growth for the 52-week period ending June 16, led by beauty (up 10%), liquor (up 8.8%), general food (up 6.9%), and home care (up 6.8%).

Other categories showing gains were:

  • Pet care (up 5.8%)
  • Beverages (up 4.3%)
  • Frozen (up 2.9%)
  • General merchandise (up 2.2%) 
  • Home (up 1.7%)

The refrigerated foods department saw private label sales slip 0.7%.

Retailers in recent earnings calls have highlighted the sales growth of their private brands as consumers continue to seek value amid ongoing price inflation.

“We’ve continued to see strong momentum in private brand sales,” said Doug McMillon, president and CEO of Walmart, in the company’s first-quarter earnings call with analysts.

He said that although private-brand penetration is in the “low 20s” as a percent of total sales, more than half of all customer grocery baskets during the past year have included a private brand product.

Similarly, SpartanNash said in its first-quarter call that unit penetration of private brands was up by 50 basis points vs. the first quarter of a year ago.

“We continue to see our private label brands outperform national brands,” said Tony Sarsam, president and CEO.

Both Walmart and SpartanNash also recently introduced new, premium private labels: Better Goods, and Finest Reserve by Our Family, respectively.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.