The private brand product experience
Different private brand retailers have different measures of success for their brand.
For some it will be really high quality, probably higher price, for some there will be maybe some compromises on quality but offering really brilliant value; and a lot of UK private retailers will have ranges of own brand products, premium products there might be good, better, best ranges, there might be healthy food ranges, there might be free from ranges.
There are all sorts of different requirements but the important thing is that suppliers and retailers work together to develop the right products to reflect the own retail brand.
The focus on product is absolutely critical, the product experience outlasts any retail experience in-store or online, whatever that might be. And the product itself is the reflection of the brand of the retailer to the customer.
So the product is absolutely king.
It’s impossible to compete on all levels with private brands and make sure the products that are developed are consistent and true to those brand values.
What the real brand values are innovation or value for money or premium ranges, make sure that the product development supplier and retailer working together is consistently delivering against your own retail brand.
There’s a huge amount of data around private brand products both for the status quo and every time a change is made. So recipe changes, customer research is necessary afterward, you’ve got to understand the impact on the product, the impact on overall sales of the category, the impact on sales of the brand. So reassessment is necessary all the time and a single view of the data that actually picks out the salient points and actually presents them to people making decisions and understanding that data is absolutely critical.
S4RB understand all of the challenges facing retailers with private brands, we work with many large retailers across the globe using cloud-based services to deliver solutions to improve the private brand experience.