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
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.