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Private labels see room for growth in China
By Wang Yanlin |
December 12, 2012, Wednesday
|
Online Edition
Online Edition
CHINESE consumers have increasing awareness of private label products, but compared with foreign countries, such products are still in short supply in China's stores, Brian Sharoff, president of the Private Label Manufacturers Association, said today in Shanghai.
"It is not because of Chinese people not knowing private label, but a proper mechanism is yet to be established," Sharoff said at the annual Private Label Fair which opened today at the Shanghai Mart.
The three-day fair saw more than 220 exhibitors expecting to join or expand their business in private label.
Private label products are those branded with the name of retailers, especially supermarkets and hypermarkets.
For new market players, private labels can save marketing and distribution costs. It can also help suppliers to bypass tedious procedures for selling brand-less products at big retailers.
"But it usually takes more than six months for a retailer in China to select a private label manufacturer due to quality control considerations," Sharoff said. "This is really too long for a producer to wait, especially in the fast moving consumer goods industry."
Sharoff said people need to be more patient for the nurturing of private labels in China.
Private label has a history of more than 20 years in developed markets where retailers try to differentiate themselves from the competition in a bid to make more profits.
In the United States or Europe, private label products account for more than a third of retailers' total stock. In China, it is less than 5 percent.
"It is not because of Chinese people not knowing private label, but a proper mechanism is yet to be established," Sharoff said at the annual Private Label Fair which opened today at the Shanghai Mart.
The three-day fair saw more than 220 exhibitors expecting to join or expand their business in private label.
Private label products are those branded with the name of retailers, especially supermarkets and hypermarkets.
For new market players, private labels can save marketing and distribution costs. It can also help suppliers to bypass tedious procedures for selling brand-less products at big retailers.
"But it usually takes more than six months for a retailer in China to select a private label manufacturer due to quality control considerations," Sharoff said. "This is really too long for a producer to wait, especially in the fast moving consumer goods industry."
Sharoff said people need to be more patient for the nurturing of private labels in China.
Private label has a history of more than 20 years in developed markets where retailers try to differentiate themselves from the competition in a bid to make more profits.
In the United States or Europe, private label products account for more than a third of retailers' total stock. In China, it is less than 5 percent.
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