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David Biernbaum's RetailWire Blog
January 19, 2010
PL Buyer: One of a Kind Private Label
FROM RETAILWIRE:
Although a slew of national-brand-equivalent products remain on retailers' shelves, today's store brands are implementing a major reroute of their road to success...leading retailers into an exciting new territory.... What's the next step private brands need to take to further differentiate themselves from national brands?
MY COMMENTARY:
Having worked with and consulted on private label for so many years with retailers, I would first point out that private label comes in many different forms and serves a wide variety of purposes for retailers. Here are a few shortened guidelines I recommend to all retail chains: 1. Define what you are trying to accomplish with your private label program. 2. Your private label program in itself should help to define your points of differentiation from your competitors. 3. Do not over-dress or under-dress your private brand package design. 4. Blatant imitations of the national brands work only if price is your only point of differentiation. Otherwise, develop your own identity but without confusing the consumer about what this product is. 5. Offer different styles and approaches to fit the product categories unless you are planning to be "generic." 6. Assign the marketing and branding of your private label program within the domain of professional marketing people. Branding is a discipline, not an intuition. 7. Above all, treat your store brand as a real brand. |
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