As consumers look for ways to make their dollars stretch, cheaper private label brands are gradually taking a larger stake in their market share.
With the largest jump in inflation in 40 years, large retailers have placed increasing focus on their own private-label brands and experiencing growth in sales as a result. Target’s brands grew 36 percent in the first quarter of 2021, while Kroger’s own brands grew a record 13.6% year-over-year last March.
Historically, private-label brands have grown during times of inflation, including the 1970’s and again in 2008 as the economy shrank.
