Private label sales off to a strong start in Q1 2022

The Private Label Manufacturers Association (PLMA) has provided an update on private label sales in the first quarter of 2022, with strong results to begin the year. According to data from IRI, store brands gained 6.5% in dollar sales, while national brands increased 5.2% during the period. 

Among departments, 15 of 18 experienced store brand dollar growth, with only deli cheese, home care and tobacco declining. Deli prepared and bakery saw the largest increases, up 14.9% and 12.4%, respectively.

In 2021, store brand product sales hit a record $199 billion in 2021, according to data from IRI provided to PLMA, as more shoppers sought value during an inflationary period. The 2021 sales total was a 1% growth from 2020. IRI has predicted private label sales to increase in 2022 given continued inflation.

The quarterly numbers were powered in part by the latest monthly performance. In March, store brand dollar sales were ahead 8.3%, compared to the same quarter a year ago, nearly double the national brand improvement of 4.5%. In January, private brand dollar sales grew 4.9%, ahead of national brands at 4.8%; in February, sales were up 6.5%, brands added 6.3%. 

 For Q1, dollar share for store brands in all major channels came in at 18.2%, an increase over 17.7% last year. Unit share was 20.2%, compared to 19.6% in 2021. 

“This is the third consecutive monthly report that indicates dollar gains for private brands,” said PLMA president Peggy Davies. “What’s more, it follows the positive performances of the last five months of 2021.” 

Monthly sales results are available for members at plma.com through the IRI Unify section.