okokRecord-breaking year for private labels
Powered by a double-digit increase in sales, private label set new records in the US in annual volume as well as in dollar and unit shares in 2022, according to the PLMA’s newsletter.
The year began with single-digit sales increases in January (up 6.3 per cent), February (7.5 per cent) and March (9.1 per cent). Then the gains rose sharply to double digits in May (up 11.8 per cent) and never looked back, with the final four months averaging a 13 per cent improvement.
For the full year, private label sales advanced by 11.3 per cent, nearly twice the growth of national brands, which were up by 6.1 per cent, according to data from IRI Unify. Annual dollar volume increased by 23.2 bn dollars, setting a new record of 228.6 bn dollars.
Store brands accounted for 29 per cent of all new dollar sales that flowed into the US retail industry last year. Store brand dollar share came in at 18.9 per cent, up 0.7 points from 18.2 per cent in 2021; unit share was 20.5 per cent, up from 19.9 per cent.
ASP has announced the acquisition of Nagels Pet Products with effect from April, according to the Belgian pet magazine Pet & Garden Pro. Both companies are family-owned wholesalers for pet products with decades of experience in the pet sector.
The merger of the two companies’ product ranges will lead to a complementary and varied range of dog and cat food and accessories. “The integration of Nagels into the group means that customers in Belgium and the Netherlands can be offered a more comprehensive range of high-quality products for the care and well-being of pets, while maintaining the high standards of quality and service,” suggests the newsletter.
