Powered by a double digit increase in sales, private label in the US set new records in annual volume as well as in dollar and unit shares. Month after month, sales climbed steadily. The year began with single digit sales increases in January (up 6.3%), February (7.5%) and March (9.1%). Then the gains rose sharply to double digits in May (up 11.8%) and they never looked back, with the final four months averaging a 13% improvement.
For the full year, private label sales advanced 11.3%, nearly twice the growth of national brands, which were up 6.1%, according to data from IRI Unify. Annual dollar volume increased $23.2bn, setting a new record of $228.6bn. Store brands accounted for 29% of all new dollar sales that flowed into U.S. retailing industry last year. Store brand dollar share came in at 18.9%, up 0.7 points from 18.2% in 2021; unit share was 20.5%, up from 19.9%.