China embracing private brands
Private brand products are growing rapidly in China’s retail market as their quality improves and continue to demonstrate a good value.
According to the Asian Review, many domestic products have been unpopular in China because they were seen as inferior to their brand name counterparts. Imports, by contrast, though more expensive, were seen as top notch. But the era of blind loyalty to foreign brands is ending as consumers begin to notice that Chinese companies, too, can make fine products.
This change presents an opening to retailers such as Chinese e-commerce leader, Alibaba Group Holding and others, who have begun selling own-brand products, according to the article. The marriage of competitive pricing and good quality creates opportunities for companies that make and sell private-label goods in China.
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