It was another record breaking year for the Private Label Manufacturers Association (PLMA) show. 2014 was the largest in the association’s 34 year history; over 4,250 visitors and 1,335 exhibitors.
The global presence of private brands was very much in evidence at this show. The Idea Supermarket® showcased products across North America, Europe, Asia and Latin America.
Private label brand growth continues to outpace national brands. According to The Nielsen Company, private label unit share in supermarkets has reached 23.4% and dollar share is now at 19.4%. Total store brand sales reached $112 billion last year.
Although this show is largely about retail products, there has been a growing representation of companies who package foodservice products and work with chefs and restaurant brands interested in building a retail presence.
Private Label Market Dynamics:
- Successful companies in the private label business are moving from a quick follower strategy to a greater focus on innovation
- Understanding shopper needs is at the core for successful brands
- New product focus is evolving to greater specialization to capture niche markets