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Capturing Private Brand Growth Opportunity

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This guest post comes from Doug Macdonald, Brand Compliance Business Development Manager Oracle Retail.

Establishing and maintaining a high level of trust in respect to a retailer’s brand promise is critical to the long-term sustainability and growth of private brand. As the supply chain becomes more complex and consumers demand more transparency on the sourcing, components, ethical development and sustainable nature of the products they purchase, retailers are challenged to bring new products to market fast while maintaining real-time, accurate information from their supply chains.

This newly-released private brand report examines the state of the industry in North America and intends to provide retail leaders with tangible takeaways for navigating the risks and rewards of private brands in the modern retail ecosystem.

Over the past five years, the dollar volume of private brand within the mass retail channel has grown more than 41%, from $43.1 billion in 2013 to $60.8 billion in 2018, far outpacing national brands’ 7.4% growth in the same period.

At 18%, the U.S. currently trails markets like the U.K. and Australia in private label market share, signaling there may be further opportunity for growth. This growth translates into dollars for retailers, who can realize 25-30% higher margins on private label goods than from branded products.

What\’s Inside the Report?

  • State of the Private Label Industry
  • Regulations and Legislative Requirements
  • Solving Complexity for Private Label Success
  • Overview of Successful Private Brand Retailers Using Oracle Retail Brand Compliance

Click here for the full report.


\"\"Doug Macdonald
Oracle Retail Brand Compliance Business Development Manager
Doug Macdonald is member of the Oracle Retail Brand Compliance team. His focus is helping retailers navigate the journey to private brand excellence. During his career he has assisted companies across multiple industries to transform the way they develop new products in complex and highly competitive markets. His experience includes innovation, quality, manufacturing, compliance, sourcing, procurement, and supplier risk management. He has a bachelor’s in engineering from Heriot-Watt University, Edinburgh.

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Are Your Brands On Trend for 2020 and Beyond? A New Report from Daymon

\"\"Do your Private Brand products stand out on the shelf? Or do they fade into the background, merely another can, box or bottle among a sea of competitors?

In today’s retail environment, 98% of National Brand assortment is the same across retailers — making differentiation through Private Brands vital to your success as a retailer. And what’s on the outside of your brand packaging matters just as much as what’s inside. If your design strategy is more imitation than innovation, it will not get the attention it deserves.

To help you stay ahead of the curve, the new Daymon Private Brand Design Trends Report presents what the top 5 design trends impacting Private Brand for 2020 and beyond.

The report presents ways to:

  • differentiate and attract attention on-shelf
  • elevate the perception of your products and your brand
  • choose the best approach for your overall brand strategy

Download the free report now.


For more insights from Daymon don\’t miss Michael Taylor, President and Tahir Taj, Head of Operations for Europe & Asia-Pacific when they present at the Velocity Europe Conference. The groundbreaking event will be held on October 21-23 in Lisbon Portugal.

The pair will discuss:

Permission to Pioneer: The Power of Private Brands
Private Brands are setting the pace for the industry, having become a crucial source of differentiation, store choice and consumer preference. With Daymon’s 50-year history and expertise in the Private Brand space, Michael Taylor, President of Daymon, and Tahir Taj, Head of Operations for Europe & Asia-Pacific will discuss the evolution of Private Brands globally and provide their perspective on the future of the industry, with a focus on what’s next in innovation. Leveraging proprietary insights, custom research and thought leadership the presentation will provide an inside look into the emerging trends and strategies driving change at retail, along with the key action steps retailers must use to innovate and lead through their Private Brands to ensure long-term, sustainable growth

Register Today!


 

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5 Modern Day Imperatives for Private Brands

\"\"A guest post from Doug Baker, Vice President, Industry Relations – Private Brands, Technology, Food Marketing Institute.

5 Modern Day Imperatives for Private Brands

Last week I attended and spoke at My Private Brand’s Velocity Conference in Charlotte, North Carolina. The experience reminded me of a blog post I authored just last fall talking about how the FMI Private Brand Leadership Council is bringing about change within private brands—from what we would consider a simple transition in nomenclature, from private label to private brand, to the more complex transition of changing how trading partners collaborate to drive more innovation.

\"\"In every business process there are several imperatives that move the needle in a positive direction. At the conference this week, I walked attendees through five key imperatives that have been identified through our private brand research supported by the FMI Private Brand Leadership Council’s guidance. Here they are:

  1. Stay Ahead of Key Trends with Data: With a more aware and active consumer, the breadth of trend metrics a brand owner must consider continues to grow.
  2. Private Brands Are About More Than Lower Cost: Just a short time ago, the north star for some private brand programs was to laser focus on what the leading manufacturer brands were doing and build a lower cost option. Today, that north star has been displaced by several consumer influencers.
  3. Transparency Is One of These Consumer Influencers: Shoppers want to know where their food comes from, and a transparent supply chain has never been more desirable. Options like SmartLabel®help shoppers make informed decisions about products they are considering.
  4. Health and Well-Being and Social Issues Matter Too: From the use of food to positively influence health and well-being, to social issues driving environmental decisions on how we manufacture and how we package products, shoppers are choosing products that help them eat well, shop well and live better.
  5. Trading Partner Collaboration is Essential: The final imperative, which will either aide success or secure failure for some private brands, is how trading partners must change the collaboration model to better meet the many metrics and demands facing private brands today.

To learn more about FMI’s Private Brands Leadership Council join us in Arlington, VA, September 26 – 27, 2019 for our Private Brands D.C. Summit and download our private brands research online.

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What Voice Shopping Means for Private Brands

\"\"This guest post comes from Kelly Thompson Kell, North American Market Strategy Director for Trace One.

Grocery shoppers truly want to feel heard. That’s why more consumers are embracing smart speakers and voice assistant technology, specifically Amazon’s Alexa and Google Home, to shop from anywhere using only their voice. Voice shopping is growing so fast experts predict voice orders will soar from $2 billion in 2018 to $40 billion by 2022 in the U.S. alone.

Private brands managers need to pay attention to this trend because consumers crave the ease, convenience and time savings of using voice technology to make e-commerce even faster. A remarkable 56% of consumers who shop for groceries online either already use a voice-controlled smart speaker or plan to purchase one within the next six months.
Consumers use voice technology to efficiently create shopping lists, receive sales announcements, find stores, search for products, and place orders. The popularity of this technology means private brands need a presence on voice platforms to reach grocery shoppers, and remain relevant and competitive.

Amazon uses its own voice technology to promote its private brands. As Bain & Co. found, when voice shoppers make a first-time purchase without specifying a brand, Alexa is more likely to recommend an Amazon private brand in that category.

In time for Thanksgiving, Kroger launched voice-assisted ordering for online grocery shopping using Google Assistant, Walmart, Target,and Carrefour also partnered with Google to sell their products, including private brands, to voice shoppers.

Meanwhile, consumer packaged goods (CPG) leaders have created content to reach voice shoppers. P&G developed a Tide-branded Alexa app to provide tips on how to clean stains, and Unilever developed Alexa apps to share free recipes.

To prepare a proactive voice strategy, retail companies can collaborate with their trading partners to share accurate information, and focus on popular, unique private brand products to boost their visibility and sales among voice shoppers.

 


\"\"Kelly Thompson Kell
North American Market Strategy Director, Trace One

Kelly is a thought leader in the areas of food product development, grocery technology strategy and supplier-retailer collaboration. Her 13 years of internal consulting, strategy engagement, and project leadership within the technology, retail, and CPG industries allow her to bring first-hand experience to the table.

Given her involvement in private label grocery sourcing at Target Corporation and her background as a food scientist and business consultant at Nestle, Kelly sees a strong need to improve communication between grocers and suppliers during the product development process.

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Life in the Fast Lane with Private Brands

\"\"This guest post comes from  Doug Baker, Vice President, Industry Relations – Private Brands, Technology, Food Marketing Institute.

Private brands have become full-fledged brands in their own right, as evidenced by 69% of consumers saying it’s very or somewhat important to have a good assortment of private brands in food and beverage. These own brand products continue to make strides and hit an upward growth trajectory again.

As consumers continue to explore new products based more on attributes and less on the brand providing them, retailers are quickly positioning their own brands to differentiate as a competitive strategy. The FMI Private Brand Leadership Council stays on top of these trends with the second release of the Power of Private Brands research. To dive deeper into private brand topics and insights throughout the year, the council broke up the research into four separate releases:

In addition to premier consumer and operational insights, the Private Brand Council hosted its fourth-annual D.C. Summit, an event developed by and for private brand stakeholders. The unique style of the summit encourages share-group-style discussion on four-to-five key topics identified by the Council. In 2018, the group explored consumer trends, the shift from private label to private brand, and the change from price-only programs to consumer-needs programs. The group also explored how private brands will compete, how the industry will address data accuracy challenges, and changes needed with trading partner collaboration based on the new challenges presented by the digitally engaged food shopper.

There is a strong opinion from the industry that based on the current momentum from consumer acceptance, the private brand dollar share could double from the current 15 percent average to almost 30 percent in the next 10 years. It’s an exciting time for private brands, and I predict 2019 will be more fast-paced than 2018.