If you want to measure performance in food retail, you look at the sales data. When it comes down to it, the scan of that product at the register is the ultimate gut check on how your strategy is performing. That’s why, for the third year, we’ve teamed up with IRI to look at the register data for private brands and truly determine the power of the category.
The 2019 Power of Private Brands: From the Register report finds private brands continue to lead momentum for food retailers across channels. The solid growth of private brands reflects the success of retailers treating private brands as brands, rather than just following the lead of national brand trends. Here are some key multi-year trends we found in the report:
Results Reflect Turnaround for Private Brands
Private brands led manufacturer brands in dollar sales growth across multiple retail outlets for the second consecutive year, up 5.4%. Private brands posted U.S. sales of $153 billion in calendar year 2018 across multiple retail outlets and convenience, according to IRI, which spearheads the data analysis for the FMI Private Brands Leadership Council. The private brands dollar figure represents edible and non-edible segments.
To read the rest of the story, please go to: FMI
