Private Label Manufacturers Association ( PLMA )

The Private Label Manufacturers Association (PLMA) conference, held annually in Chicago, was chalk full of market drivers and growth incentives for retailers and suppliers in 2011. As reported by PerishableNews.com, attendance was up more than 15 percent, according to a PLMA spokesperson, despite the sluggish growth private label experienced in 2010.

Brian Sharoff, president of PLMA said large Chinese retailers need to jump on the bandwagon and begin to develop private labels because of the huge market potential, according to PeopleDaily.com.

"In developed markets, such a strategy has had a history of more than 20 years after retailers tried to seek more profit to differentiate themselves from the competition," Sharoff said. "In China, it is still relatively new but has very big potential."

PeopleDaily.com reported private label products are priced 20 to 30 percent below name brands, and they account for more than one-third of retailers’ total stock in the United States or Europe. China only accounts for 5 percent, per the Shanghai Commission of Commerce.