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Joel Warady'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:
It was not that long ago that retailers felt the best Private Label strategy was to hold a reverse auction, and only choose the PL supplier who could provide the product at the absolute lowest price. The fact is, these same buyers are still at the same buying desk, and while they talk about treating PL as a branded product, they find it difficult to get low cost out of their decision making process. What retailers need to do is hire true branded product experienced executives, who understand brands after having spent years developing and marketing them. Only then will retailers truly make strides in developing a true PL branded product strategy. Most retailers still have a very long road in front of them. |
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