1、Circana,LLC|For public use1CPG Private Brands UpdateMarch 1,2024Circana InspireCircana,LLC|For public use2 2Executive SummaryThe anticipated gains of private brands(also referred to as store brands or private label)amid high inflation have been realized.This report provides an update on the U.S.$217

2、+billion store brand landscape and identifies retailer opportunities to increase demand for their own brand and private brand offerings.Current Demand for Private BrandsPrivate Brand Opportunities Even in the salty snack aisle,where name brands dominate,consumers are recognizing the value of private

3、 brands.A commitment to increasing household penetration one category at a time,can payoff for retailers in the long run.Retailers can lean in further on the ways consumers are cooking today.Demonstrate how private brands work with small appliances,like air fryers and instant pots,for easy-to-prepar

4、e meals.Promotion is key.Given that younger shoppers are more likely to start their shopping journey online,leverage digital marketing to lock in these valuable cohorts.Leverage trust in products to promote new offerings that reflect the mission of the store banner.Race is on for store brands to exp

5、and shopper trial to build trust with store brands and deepen engagement.Total dollar sales of private brands increased 6%in 2023,and units increased 0.9%.Private label gained share from name brands,increasing from 24.7%of total unit sales in 2022 to 25.5%in 2023.Sales were higher for PL F&B,6.7%com

6、pared to nonedible 5.1%Still,private brands gained share from name brands,increasing to 24.7%of total unit sales,up from 25.5%in 2022.Private brands grew unit and unit share across general food,shelf stable beverages and refrigerated foods,as well as beauty and home departments.Within F&B,private br