Store brands recorded unprecedented highs in both unit and dollar market shares during the first four months of 2024. Dollar share advanced to 20.5% and unit share moved up to 23.1%, as of April 21, reports PLMA, based on exclusive data received from Circana.
The new share standards have come on the strength of store brands' outstanding performance versus national brands during the period. Store brand dollar sales were up 2% vs a gain of 1.1% for national brands, while in unit sales the difference was even greater, as store brands improved by 2.5% while national brands fell by 1%.
As a potential indicator of even higher market shares to come in the months ahead, the separation between store brands and national brands sales results expanded during the most recent reporting period. In the 30 days ending April 21, store brands outgained national brands in dollar sales by 2.1% vs only 0.4%, and far outpaced national brands in unit sales with a plus 2.2% compared to a minus 1.6%.
Private Label Manufacturers Association