PLMA ‘s annual Private Label Trade (PLMA) Show broke record attendance this past November, bringing together more than 5,000 wholesalers, merchandisers, suppliers, and big and small retailers alike in what would be the first in-person show since 2019.
Taking place at the Donald E. Stephens Convention Center in Chicago, Illinois, the show room aisles were packed as 1,400 companies and 2,300 exhibition booths came together to provide opportunities to network, identify new products and find new suppliers. In the age in which the market for store brands is on the rise, it was an incredible show for our MRP sales team to attend, as things finally return to normal following the COVID-19 pandemic.
MRP Solutions attended the PLMA Show from November 13-15, and had the chance to connect with customers, suppliers, and industry experts worldwide to discuss and learn about the latest trends in the private label market. In terms of MRP Solutions’ contribution to store brands, MRP is a supplier to many US and global private label brands, including Heinen’s, the Great Value Brand in Walmart, Kirkland of Costco, and many others. Our products are versatile and can be used in many market segments, making us a reliable source of packaging for many of these private label brands.
Private labels consist of third-party companies who manufacture, and package products purchased and sold under another brand. Often depicted as the store brand, these products offer a cheaper alternative to the national brand, while providing a similar solution. Store brands have continued to dominate in the United States, as it amounted to approximately 200 billion dollars in 2021, with a large contributor to the switch from national to store brand being a better value, according to this survey.
This “trade-up” perspective, as opposed to the “trade-down” mentality that once graced store brands, is becoming increasingly apparent to shoppers as they are recognizing the added value of store brands, creating a sense of customer loyalty, and ultimately increasing profitability. (Source: PLMALive! key takeaways video segment)
Check out all of the amazing takeaways of our time at
PLMA’s 2022 Private Label Trade show!
Store Brands Penetrating the Global Brand Market
According to the PLMALive! key takeaways video segment, the PLMA Show featured numerous keynote speakers, presentations, and panel discussions, with a common theme emerging: the trajectory of store brands is to reach a novel level of success. A unique takeaway from the sessions suggested the need for an economy private label, regardless of if it initially sells; providing the option of a private label brand may convince consumers that they can get all they need from one store or retailer (a “one-stop shop”, if you will). While that is great news for the large retailers, such as Walmart and Kroger, it also is great news for MRP Solutions as we provide product to their private labels, helping to create and sustain the success seen in this sector of the market.
Sustainability continues to be a driver of consumer decisions amidst the environmental challenges ahead of us. Speakers discussed the future demographic of consumers as being more conscientious of sustainability in terms of product and package, and therefore are willing to support brands who hold the same values. Being in the plastics industry- something that recently has faced criticisms in terms of its sustainability- MRP recognizes this and shares this commitment to being environmentally conscientious. Our use of 100% recyclable raw materials whenever feasible and the increased use of post-consumer recycled plastics being chosen by retailers, we provide to are just a couple ways we are contributing to a circular economy.
The Rise of Nutraceuticals Post-Pandemic
MRP continues to be a trendsetter and leader by providing caps and closures to Life Extensions, a brand featured in the PLMA Trends video linked here. While we are in the homestretch of the COVID-19 pandemic, that didn’t stop this market segment from steadily increasing. Estimated at $330.6 billion, the global market for nutraceuticals continues to be significant as taking proactive health and wellness measures continue to be a comprehensive priority around the globe.
With a mindset of purposeful agility, the MRP Solutions team is committed to understanding partners’ business objectives and design requirements, while reimagining the approach and tailoring solutions to achieve desired outcomes. Decades of packaging expertise allow the team to move faster, more efficiently and more cost-effectively in today’s ever-changing market. Attending shows like PLMA helps to keep the team up to date on the latest advances and technologies that can enable MRP to best serve its customers. Recognizing that industry trends continuously change and customer needs are always evolving,
MRP Solutions’ ability to succeed begins with a willingness to approach new challenges with innovation, and maintaining the customer-centric culture that has enabled shared, long-term success. Delivering packaging with purpose is what MRP is all about.
What’s your packaging purpose?