品牌商的选择题：代工订单接不接

Core Viewpoint - The article discusses the dilemma faced by a dairy company in East China regarding whether to accept private label orders from channel partners, highlighting the pressure on brand owners as retailers increasingly develop their own brands, which can lead to price competition and reduced brand value [2][12][16]. Group 1: Market Dynamics - Retailers' private label sales growth is significantly outpacing overall fast-moving consumer goods (FMCG) sales, with a reported 40% increase in private label sales compared to just 2% for overall FMCG sales in the first half of 2024 [2]. - Major retailers like Sam's Club have seen their private label, Member's Mark, capture over 0.5% market share in certain categories [2]. Group 2: Manufacturer Challenges - Manufacturers face extreme transparency in cost structures when competing for private label contracts, with channel partners demanding detailed breakdowns of all costs, including minor expenses like packaging and utilities [9][10]. - The profit margins for contract manufacturing can be significantly lower, with some products yielding gross margins that are half of those for proprietary brands [8][12]. Group 3: Strategic Responses - Some manufacturers, like a leading grain and oil company, have opted to engage in contract manufacturing to maintain market presence, acknowledging that if they do not participate, competitors will [4][15]. - Companies are increasingly focusing on building their own brands while balancing the need for immediate cash flow from contract manufacturing, which can help establish trust with channel partners for future brand collaborations [17]. Group 4: Competitive Landscape - The entry of retailers into private label production has led to increased competition, particularly in categories that were previously dominated by established brands, such as dairy products [20]. - Retailers are not only looking for low-cost products but also for unique offerings, which can create opportunities for brand manufacturers to negotiate better terms based on their product quality [21]. Group 5: Long-term Implications - The reliance on contract manufacturing can weaken brand value and increase vulnerability to price competition, as seen in the experiences of various manufacturers [12][15]. - The article suggests that while contract manufacturing can provide short-term revenue, it may also pose risks to long-term brand positioning and market stability [16][23].