06.02.22
The Private Label Manufacturers Association (PLMA) will hold its Private Label Trade Show from Nov. 13-15 at the Rosemont Convention Center in Chicago.
The theme will be “Consumers Are Back in Charge.”
“It’s a great time to get back to a live show, and it’s a great time to be in the retailer brands business,” said Peggy Davies, PLMA president. “After a difficult two years, American consumers are back in charge. They are more discerning as they shop for new and innovative products that offer on-trend attributes, high quality and great value. And that spells success for store brands. In fact, whether at brick-and-mortar stores or online, retailer brands are winning big so far this year at checkout.”
Store Brands Outpace National Brands
Over the first five months of 2022, retailer brands have increased 7.8% in dollar sales versus the prior-year period, according to IRI. By comparison, national brands are up only 5%.
In May, dollar sales grew 8.7%; in April, +9.5%; March, +8.9%; in February, +6.8%; and in January, +5%. Store brands also outpaced national brands in terms of unit sales.
During the month of May alone, 14 of the 17 food and non-food departments that IRI tracks for PLMA showed store brand dollar growth, with double-digit gains in health and beauty.
This strong year-to-date performance comes on the heels of a record $200 billion in sales last year, when store brands accounted for one of every five products sold across all US channels.
Consumers have maintained their ability to spend in the face of record-level inflation, supply chain issues and geopolitical unrest. They’re adapting and shopping smarter for themselves and their families, a “trend that always accrues to store brands’ favor,” said Davies.
Health and wellness have become paramount concerns for post-pandemic consumers who are more informed and better educated on what they buy due to changing needs and tastes, adherence to the latest diet and health regimens, and greater awareness of the effects of allergens and the impact of their behavior on the environment.
As a result, product attributes, qualities and features have never been more critical.
PLMA Trade Show Underscores Store Brand Innovation
The 2022 PLMA Show will put special emphasis where store brands’ innovation is exploding. These include plant-based and free-from; new flavors and ingredients; hemp-derived CBD; self-care; health and wellness; beauty and cosmetics; and sustainable, clean label and packaging.
The Chicago Show is expected to attract more than 5,000 visitors from drug chains, mass merchandisers, specialty chains, dollar stores, e-commerce retailers, importers, exporters and distributors, among other buyers.
“Whether you are a small- or medium-sized independent company or part of a large, multi-national manufacturing organization, the PLMA Show can connect you with key retail executives who are responsible for their chain’s store brand purchasing,” said Davies. “Come to Chicago and build your business by finding great retail partners.”
For more information, visit plma.com.