14 • September | October 2026 • abasto.com Dollar Sales Tell a More Complicated Story Revenue numbers paint a murkier picture. Store brand dollar sales sta- yed flat year-to-date, while national brands grew 2.2% in the same cate- gory, PLMA reported. That left store brand dollar share at 21.2%, just shy of its own record. Industry analysts caution against reading too much into that dollar fi- gure. Tariff policy and shifting natio- nal brand pricing strategies can dis- tort revenue trends in ways that unit sales don’t reflect, making units the more reliable gauge of true consumer preference. PLMA President Peggy Davies poin- ted to pricing whiplash across the na- tional brand landscape as the reason for the gap. Some manufacturers are cutting prices to win back customers who defected to private label, she said, while others are raising prices to cover higher fuel, ingredient and supply chain costs. “Unit sales remain the best measu- re of consumer choice, and Circana’s midyear results — including a record 23.8% unit market share for store brands — underscore the continued strength and growing appeal of pri- vate label,” Davies said, according to PLMA. Consumer Loyalty to National Brands Is Fading Separate research backs up the trend PLMA is tracking. A survey from con- sumer insights firm Zappi found the share of shoppers who say they buy only national brands dropped from 21% to 10% in less than a year. More than 90% of respondents told Zappi they’ve changed their shopping ha- bits because of rising costs. That shift is forcing a reckoning in- side major consumer packaged goods companies, said Natali Kelly, Zappi’s chief marketing officer. “The era of growth driven by price increases is coming to an end,” Kelly said, per Zappi’s findings. “For CPG leaders to transform their busines- ses, they will need to compete on value instead of price, innovating and simplifying their product portfolios in the process.” Kelly’s research found nearly 70% of consumers would accept fewer product options if it meant lower pri- ces, a signal that brand loyalty alone may no longer justify premium pri- cing. “This isn’t a post-pandemic correc- tion,” Kelly added. “It’s a structural reset, and brands still betting on loyalty to absorb their next price in- crease may be the last to realize it.” For grocery retailers, the numbers offer a clear signal: private label in- vestment is paying off, particularly in categories like pet care and beve- rages where growth is outpacing the rest of the store. • Continuation of page . 12 Americas Food and Beverage Special Insert