Private labels are products that are manufactured by one company but sold under another company's brand name. Retailers often create 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. Private labels can be found in various categories, including food, clothing, and household goods. Major retailers like Walmart and Costco have their own private label brands, such as Great Value and Kirkland Signature, which help them differentiate their offerings and build customer loyalty.