Private Label Market: Transforming Retail Paradigms
Introduction to the Private Label Market
Definition and Concept
The private label market refers to goods manufactured by one company but sold under another company’s brand, typically a retailer. These products, often called “store brands” or “own brands,” have surged in popularity for their balance of quality and affordability.
Evolution Over the Years
Initially associated with low-cost and generic alternatives, private labels have undergone a metamorphosis. Today, they epitomize innovation, quality, and exclusivity across various product categories. The market has matured, shifting from basic offerings to nuanced, premium experiences—reshaping consumer expectations in the process.
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