Description
In grocery retail, one trend that remains ever strong is that food retailers are embracing own brands more than ever, with some developing comprehensive strategies in this area. With the rising consumer acceptance of such items, a superior private label offering has emerged as key to differentiation among food retailers. To ensure that their private label strategy is successful, the new offerings must tick all of the emerging trend boxes that their national brand counterparts do.
It is heartening to see retailers embrace the best practices regarding the entire private-brand experience when developing new private label items. They are incorporating such emerging trends as simple ingredients, local sourcing and an emphasis on fresh perimeter products, while balancing quality and cost considerations. They understand that promoting and merchandising private label products for maximum appeal to shoppers includes performing extensive research, marketing to customers by traditional and digital means, and providing pertinent information about the product.
Top retailers are coming forward to make recommendations across key areas like quality, price and promotion, merchandising, marketing, packaging, sustainability, innovation and renovation (or reformulation). By leveraging best practices across these areas, retailers are creating a cycle of continuous improvement and excellence in private-brand product delivery and raising consumer acceptability for store brands.
