1、private label strategiesAn r3 china category reportThe private label market in China shows great potential for development.Though uptake has been slow in recent years compared to North America and Europe,Chinese consumers have warmed to the concept thanks to increased R&D by retailers,leading to mor

2、e innovative products at highly competitive prices.In 2019,private label brands accounted for 16.3%of FMCG sales globally and 1%in China.In 2020,Chinas private label market grew by 22.7%,exceeding that of the FMCG market by more than 12 times(the growth rate of the FMCG market in the same period was

3、 only 1.8%).With government intentions to boost domestic spending and promote reinforcement of domestic brands,private labels are expected to enjoy increased visiblity.what are private label brands?Private Label refers to products that are manufactured by a third-party,while still being under the na

4、me of the retailers brand and sold through the retailers own channels,such as retail stores,supermarkets,department stores,e-commerce platforms,and so on.believe private labels are a good alternative to national brands believe they offer good value for moneysay private brands are better valuesay pri

5、vate brands meet their needs betterof consumers have purchased private labelsof consumers are willing to try private label brandsEUROPEUSAchina70%69%82%55%39%94%12022Private Label Strategies-Chinakey to growth appeal to mid to high earnersThe rise of private label brands in Europe and the United Sta

6、tes can be attributed to strong demand for cost-effective products.In contrast,the top 10 retailers in China have developed category,product and marketing strategies around their private brands targeting more affluent consumers.In 2020,60%of Chinese households with an annual income of more than 9,00