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Feb 27, 2024

Store brands achieve record 2023 sales

Sales of store brands increased $10.1 billion to a record $236.3 billion last year compared to 2022, according to the Private Label Manufacturers Association (PLMA) 2024 Private Label Report. That represents a 4.7 percent rise in dollar sales in all outlets in 2023, versus the same period the prior year. Store brands bested national brands, which grew 3.4 percent in dollar sales year over year.

Compared to 2019, annual store brand dollar sales in 2023 increased by $60.2 billion, a 34 percent gain. Store brand dollar share rose 1.2 points to a record 18.9 percent. The results show that consumers are directing more of their budgets to private label items.

Click here for the full report.

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