The weekly web mag Store Brand Decisions published this fascinating interview with Andres Siefken, vice president of brand strategy and marketing for private brands broker Daymon Worldwide, based in Stamford, Connecticut. According to Siefken,
“I see tremendous growth as retailers get better at managing their brands. I also see a lot of competition from national brands, but the value alternative will consistently be with the private brands”
Resist the Temptation of Easy Money for Long-Term Store Brand Growth
Thought Leadership: Andres Siefken, Daymon Worldwide
Consumer packaged goods companies are cutting back on innovation, reducing prices and throwing money at retailers and consumers with increased promotions and store coupons to compete more forcefully with store brands –– all strong indicators that store brands are gaining sustainable growth in the marketplace.
In fact, CPG companies are so concerned about the incursions of store brands on their sales and earnings that some are beginning to refer to and/or compare their brands to private brands in advertisements, according to Andres Siefken, vice president of brand strategy and marketing for private brands broker Daymon Worldwide Inc., based in Stamford, Conn.