As PLMA’s 2024 US Private Label Trade Show approaches, business is looking good across the board for store brands.

The numbers speak for themselves. During the first eight months of 2024, US store brand dollar sales grew 2.6%, outpacing national brands, which were up 1%. In unit sales, store brands also outperformed their counterparts, increasing 2.3% while national brands declined 0.8%. For the period ending August 11, store brands reached all-time highs in both dollar (20.3%) and unit (22.8%) shares.

Store brands are continuing the momentum of 2023, when dollar sales rose 4.7% and unit sales were nominally even. US retailing’s hottest sector, store brands’ annual sales have risen 41% in five years. PLMA is projecting that store brand sales for 2024 will surpass $262 billion, which would be a record.

“As we prepare to convene in Chicago, we are gratified that the American consumer continues to vote in great number for store brands at checkout,” said Peggy Davies, PLMA president. “Kudos goes to the retailers and suppliers who maintain the flow of high quality and innovative food and non-food store brand products to the nation’s store shelves and online channels.”

In the ten departments Circana tracks for PLMA, during the 52 weeks ending August 11, store brand dollar sales rose in all of the sections and store brand unit sales increased in all but Health. The largest dollar sales gains were in Beauty, up 6.6%; General Food, plus 5.8%; Beverages and Pet Care, both ahead 3.8%, and Frozen up 2.5%. In total store brand sales for the 52 weeks, Refrigerated was the largest department with $54.8 billion, followed by General Food ($51.1 billion), General Merchandise ($25.1 billion), and Frozen ($21.3 billion).

The leading departments for store brand unit gains were Pet Care, which rose 4.5%, followed by Home Care, up 3%, General Food, plus 2.9%, Beauty, up 2.7%, Refrigerated, up 2.6%, Frozen, plus 2.1% and Beverages ahead by 1.8%. The best sections for store brand unit sales for the period were General Food (19.6 billion), Refrigerated (14.8), General Merchandise (4.9 billion), and Frozen (4.6 billion).