The consulting-led software company, Solutions for Retail Brands (S4RB) has released “UNIFIED BRAND EXPERIENCE, New Thinking About U.S. Private Brand Success” the first in a three-part series of reports that delivers new insights for private brand management.
Private Brands are no longer secret weapons. Today they are more public than private, representing one of the best-known and most valuable competitive strategies for U.S. food retailers. It’s resulted in exclusive opportunities for retailers to battle a wide-range of competitors and court a quickly changing customer base.
Private Brand is a business that has progressed dramatically from the days of generic products at rock-bottom prices. Today these brands are premium, sophisticated, in-tune with new consumer behaviors, and even groundbreaking.
If all this is the case, then why has growth slowed?
WHAT ARE THE CHALLENGES THAT FACE
PRIVATE BRAND MANAGERS AS THEY ATTEMPT TO BUILD AND GROW THEIR BRANDS?
Retailers have taken on more responsibilities with own brands, and they aren’t always prepared for this level of ownership. They have been challenged by execution problems, national brand innovation, formidable competition, breakdowns in trading partner communications, and inability to capitalize on quickly changing consumer trends. On top of this, retailers don’t always realize that consumers today consider the story behind the brand as important as the brand itself.
Retailers have struggled to:
- Integrate a wide variety of data points into quality insights about products and brands
- Address the quickly changing preferences of younger consumers
- Compete with formidable Private Brand specialists such as Aldi, Lidl and Trader Joe’s
- Run their Private Brand businesses with lean teams that need more support
- Collaborate with suppliers as teammates and key resources.
There is a solution that addresses these and related challenges. It has already built a successful track record in several countries, including in the U.K., a world leader in private brand retail, and now in the U.S. It’s an approach that’s relevant whether private brand products are sold in a supermarket or other type of food retailer, or online. The strategy is called Unified Brand Experience.
This report explains the approach and how it can be applied to the unique and varied journeys of individual Private Brand retailers.
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