U.S. self-branded sales grew 6% to $217 billion last year as consumer interest continues to grow
According to a new report from consulting firm Circana, U.S. own-brand sales will grow 6 percent year-over-year to $217 billion in 2023 as consumer interest in store-owned brands grows.
However, the number of self-branded merchandise sales is only up 0.9% year-over-year. Self-branded sales have risen steadily since 2019, but have stabilized since their peak in 2020.
Last year, the share of captive brands surpassed that of third-party brands, rising from 24.7% of total sales in 2022 to 25.5% last year. According to the report, self-branded brands in the food, storage-resistant beverages, refrigerated food, beauty and home segments all increased their share of sales.
Millennials (1965 to 1980) and Gen Xers without children (1980 to 1995) accounted for more than one-third (36 percent) of own-brand food and beverage sales, according to the report. Families with children accounted for another 35 percent of those sales.
A survey conducted by the U.S. Food Industry Association (FMI) last October found that 54 percent of consumers surveyed said they expected to increase their purchases of house brands, but only 26 percent said they would increase their purchases of third-party name-brand items.
Research released this month by the Private Label Manufacturers Association found that private label products accounted for more than one-fifth of grocery store sales last year, a record for the category. In addition to the increased share of the private label food category, Circana found that beauty private label volume share grew by 0.3 percentage points, general merchandise by 0.6 percentage points and housewares by 1 percentage point.
Circana reports that the volume share of own-label brands has stabilized, despite a rise in sales in recent years. While captive brand sales grew from $157.2 billion in 2019 to $216.8 billion last year, the number of sales peaked at $57.1 billion in 2020. they have hovered around $53 billion since then, rising slightly to $53.5 billion last year, Circana found.
We also have client in U.S . The main products we are kitchen organizer series (Bathroom Laundry Storage Baskets,Modern Napkin Holder, Kitchen Organizers With Storage Drawer, Trolley Service Shelving Cart)； tabletop series,；home organizer series and bathroom series products.
In order to cope with the ever-changing foreign trade situation, our company constantly develops new customers and new products. With a positive and innovative attitude, we lead the industry in innovation.