We’re barely into the new year and already the pace of business is frenetic. It’s a good time for Retail Brand leaders to step back and make sure they are pursuing the most important strategies. Here are five imperatives for Retail Brands in 2022, all based on points made during the four groundbreaking RBI’s Summits over the past year.

1-Think Big and Bold

Excelling in Retail Brands requires starting with a bold ambition and believing you have a right to win in the marketplace.

“Retail brands need to escape the trap of coming in second place against other brands,” said Christopher Durham, Velocity Institute President, in a presentation during the RBI Innovation Summit.

Retail Brands also have to meet the needs of increasingly values-focused consumers. Walmart is relaying how this plays out in its ambitious sustainability journey.

“In private brands, we are committed to driving towards a regenerative future,” said Cheryl Lam, Walmart’s Sustainability Packaging Leader, Private Brands, during the RBI Sustainability Summit.

2-Identify Unmet Consumer Needs

Solving for unmet needs is the ultimate way to show that Retail Brands are tuned into today’s consumer lifestyles — and shoppers increasingly expect this of Retail Brands. The point was emphasized by speakers from Walgreens and Longo’s at RBI’s Innovation Summit. Walgreens eyes the importance of addressing unmet needs in healthcare and other sectors. Canada’s Longo’s supermarkets has been focusing on innovative solutions to battle meal fatigue.

“Guests have been coming in for new solutions to avoid becoming bored with their meals,” said Jenny Longo, Senior Director Private Brands, Culinary Innovation and Central Kitchen.

3-Execute Well on Plans

Even the most ambitious plans will come up short if not implemented well. This is a key point for Retail Brands, because retailers are dealing with so many moving parts.

In RBI’s Design Summit, Coles of Australia and its brand communications agency underscored the importance of implementation by outlining its multi-step approach for a brand introduction — from insights foundation to design rollout to launch.

“Our aim is to grow own brand,” said Lisa-Marie Pejovnik, Coles Marketing Manager.

4-Emphasize Partnerships

Retailers need to collaborate with suppliers and other partners to achieve ongoing success with their brands. Sometimes the collaboration needs to turn into mentoring. Target puts an emphasis on supporting minority-owned suppliers in their journeys, said Flora Ekpe-Idang, Senior Brand Marketing Manager, in a presentation at the RBI Diversity Summit. Ekpe-Idang leads the retailer’s Black audience marketing strategy.

She described a range of efforts — from a supplier accelerator program to fairs for Black-owned businesses.

5-Ace Shopper Experience

Retail Brands need to enhance shopper experiences across channels, because most consumers are now omnichannel shoppers. Part of the solution is to overcome supply chain challenges to ensure in-stock positions. At the RBI Innovation Summit, Party City, which relies on helium for its balloons, outlined a novel approach to overcoming helium shortages. The retailer has been purchasing helium mines, said Susan Sanderson-Briggs, SVP, Brand and Marketing. Meanwhile, retailer Thrive Market has been accelerating shopper experience by leveraging bold designs to improve how private brands show up online, based on a presentation at the RBI Design Summit.

From shopper experience to bold thinking, retailers need to tackle key imperatives for 2022 and beyond. RBI will support these efforts with a range of activities to inform and educate leaders and drive networking, collaboration and growth.