Buyers want more from private labels

0 Comment(s)Print E-mail SHINE, November 22, 2018
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Chinese buyers of private label products now expect not only low prices but high quality products, according to industry observers. 

"Prices are no longer the most important factor in private label products," said Cao Jian, president of the Private Label Specialty Committee of Shanghai Licensing Association. "People now seek differentiated products with more added value. We think it represented a new stage for the growth of private label in China."

Private label products refer to brands that carry the name of retailers, especially supermarkets and hypermarkets. As the middlemen are eliminated, prices of private label products are very competitive.

In Europe, private label products account for about 35 percent of all goods sold. But they represent less than 5 percent of sales in China.

In big cities like Shanghai, private labels are more common, said Yao Zheng, secretary general of the association. Private label products account for 40 percent in convenience stores such as Lawson and even more in Family Mart

The Shanghai Private Label Fair, an annual event since 2010, will be held from December 6 to 8 at the Shanghai New International Expo Center. This year the number of exhibitors has increased 33 percent from a year earlier to 650.

During the fair, a forum will be held for industry observers to share their insights, while several research reports will be released. 

The fair will also allocate an area especially for fresh food for the first time.

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