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Store Brand Sales Outpacing National Brands

01/25/2024

According to Market Research Company Circana, retail sales value of store brands attained 8.2 percent compared to 5.1 percent for national brands over the first half of 2023.

 

The Food Industry Association determined that 96 percent of grocery shoppers purchased store brands on occasions with almost half (46 percent) selecting private brands “most all of the time”.  An overwhelming majority of 90 percent of shoppers will continue purchasing private brands having established loyalty based on both price and also on value given equivalent quality to national brands.

 

The two leading convenience store chains, Casey’s General Stores and Circle K have included private brands in their intermediate and long-term projections of sales.  Casey’s General Stores of Iowa now markets 300 SKUs across its range representing ten percent of gross profit.  Alimentation Couche-Tard of Quebec, parent of Circle K and other convenience banners, is launching over 100 new products each year in North America, representing ten percent of their product mix.