Private label refers to products that are manufactured by one company but sold under another company's brand name. Retailers often use private label products to offer unique items that can compete with national brands. These products are typically sold at a lower price, providing consumers with more affordable options. Many grocery stores and retailers, such as Walmart and Costco, have their own private label lines. These products can range from food items to household goods. By controlling the branding and marketing, retailers can increase their profit margins while providing customers with quality alternatives to well-known brands.