During the first 10 months of 2024, store brand dollar sales rose 3.8%, outpacing national brands, which were up 1%. In unit sales, store brands also outperformed their counterparts, increasing 2.5%, while national brands declined 0.7%.
Store brands are finishing the year strong: In the month of September, dollar sales gained 5.7% and since July, sales have increased about 5%.
For the 2024 period ending October 6, store brands reached all-time highs in both dollar (20.6%) and unit (22.9%) shares. Taking a longer view, store brands' annual sales have risen by 41% over the past five years. PLMA projects sales for all of 2024 will surpass a quarter trillion dollars, setting a new record for yearly sales revenue.
In the 10 departments Circana tracks for PLMA, during the 52 weeks ending October 6, store brand dollar sales rose in all of them, and store brand unit sales increased in all but Health.
With recent months averaging 5% dollar sales gains, the FY 2024 increase per Circana should be about 4%. That would be well ahead of the increase for national brands and produce the highest levels ever of store brand dollar and unit market shares.
Among departments, top dollar gainers were General Food at +5.2%, followed by Home Care (+5.1%) and Beauty (+4.8%). Next was Beverages, which was ahead +4.1%; then Refrigerated (+3.4%), Frozen (+2.8%), Pet Care (+2.7%), General Merchandise (+1.9%) and Health (+1.4%). Leading sections for unit gains were Pet Care, which rose +4.2%; followed by Home Care (+3.5%), General Food (+3%); Refrigerated (+2.8%); Beverages (+2.7%), Beauty (+2.1%); Frozen (+2.1%), and General Merchandise (+0.9%). Health was off 1.4%.