Home brand labels win recognition
The Private Label Specialty Committee of the Shanghai Licensing Association on Friday launched its first awards program for private labels to boost consumer awareness.
Organizers of the government-backed program said they aimed to include private label products from more than 30 retailers and award winners on November 28 during the 2017 Shanghai Private Label Fair.
Six awards will be given: private label strategy, product category expansion, product innovation, package design, environment friendliness and popularity among consumers.
Winners will be decided by both a specialist penal and online consumer polls.
Private label usually refers to a store’s in-house, or home, brand offering lower-cost alternatives to existing brands.
Hu Qingqi, an official with the Shanghai Commission of Commerce, said boosting awareness of private labels could help retailers upgrade their business model and could help lift Shanghai’s status as an international consumer city.
There is huge potential for Shanghai to develop private labels, Hu said.
PLSC data shows private labels now have a 3 to 5 percent market share in China compared with almost 30 percent globally.