Beauty tops US store brand sales growth in 2023

Key stat: US sales of store brand beauty products grew 10.5% in 2023, according to February 2024 data from the Private Label Manufacturers Association and Circana.

Beyond the chart:

  • 17% of US shoppers said they were buying more store-brand products to cut costs, per a December 2023 survey by Intelligence Node in partnership with Dynata.
  • Many beauty shoppers have begun turning to dollar stores to find low-priced beauty products, with many stores selling dupes of popular brands and even some national brands like Garnier and Maybelline.
  • In an effort to court cost-conscious consumers, Target recently launched a new private label brand, dealworthy, offering an assortment of items (including beauty, home, and essentials) for lower prices, with most items under $10.

Use this chart:

  • Assess your private label strategy.
  • Illustrate the impact of higher prices on consumer behavior.

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