Store brand sales are up 1.0% – even higher in frozen – and shares are on the rise. Could this be the start of something big?
What a difference 12 months makes! Last year at this time, we were resigning ourselves to the fact that private label shares may have plateaued — and store brands in the United States might never enjoy the kind of success they have in Europe. But that was before one of the most momentous years in supermarket history. From Amazon’s acquisition of Whole Foods and the acceleration of online shopping to the opening of Lidl’s first stateside store, things have changed rather remarkably. As a result, many industry observers now expect private label shares to grow pretty dramatically in the next decade. In fact, a new report from Wilton, Conn.-based Cadent Consulting suggests private label dollar share could swell as much as 8.0 points to 25.7% by 2027.