In this video, Penny Coates non-executive director focused on retail for Solutions for Retail Brands (S4RB) draws on her career with Asda, Boots, Mars and PepsiCo to present some interesting observations on private brand.
Solving The Challenges Of Private Brand Retailers
I think team work is really important in any aspect of life.
If you take the athlete that appears to be the individual successful athlete, they have a massive team behind them and I think private brands are no different to that.
It’s really critical that everybody understands the customers’ needs and that suppliers and retailers work well together to satisfy those customer needs.
It’s actually all about mutual success because the growth of one and the growth of the other are intrinsically linked.
Suppliers and retailers working together can be a lot more efficient than the two working alone because both need to test products, both need to understand what the customer thinks of the products and it’s really critical to get that information and to get it quickly and efficiently.
It’s about the whole supply chain, it’s about where the product comes from, it’s about the look of the packaging, the look of the product and actually meeting the customer needs overall.
So, things like quality testing and understanding customer feedback, if both supplier and retailer do that it’s really inefficient, so actually working together One View, One Team, that has to be the way forward.