For the fourth straight year, private brand grocery sales outpaced national brands, increasing by 13.7%, year over year, compared with a 12.9% increase by name brands, according to a report from Coresight Research that included data from IRI. Coresight shared a look at the report with Store Brands.
In the new private label market report, Coresight highlighted the growing share some retailers had on the market last year, including Albertsons recently surpassing a 25% share, Costco’s Kirkland Signature label netting a 32% share of total sales ended Aug. 30, 2020, and Kroger’s private label brands garnering a 21.3% share ended Jan. 30.
The report mentions the rise of plant-based and organic products within private label and how it’s helping to fuel growth as well as sweet and savory items marked by the new releases of Amazon’s Aplenty brand and Target’s Favorite Day launch.
As the year continues, Coresight, based out of New York, expects continued growth in store brands as they turn to align with the growth of e-commerce.
The report is available here.