This week's marketing winners, losers and newsmakers.
Winners
Private label: As consumers seek out lower prices, private label products are reaping the benefits. Walmart recently said that it is seeing more customers shop its private labels than branded items, a trend that played out during the fourth quarter and is expected to continue. Also this week, the Private Label Manufacturers Association reported that private brand sales jumped 11.3% to $228.6 billion in all outlets in the U.S. for the 52 weeks ending Jan. 1, 2023, compared with the prior year, setting a record.
Aldi: Cost-conscious consumers are also giving a boost to discount-oriented Aldi. A recent report from foot traffic analysis company Placer.ai found that Aldi is seeing success at its 2,300 stores in the U.S. Overall visits to the European grocery chain, which has been ramping up its locations here following its 1976 arrival, increased 30.8% between the fourth quarter of 2019 and the fourth quarter of 2022, Placer reported.
Lime: The company, which allows customers to share bikes and scooters, posted its first profitable year. Lime said adjusted EBITDA was $15 million in 2022; unadjusted, its profit was $4 million. The results, which were self-reported, come ahead of expectations that Lime will go public, joining competitor Bird. Lime CEO Wayne Ting told TechCrunch 2022 was Lime’s best year.