The first in-person Velocity Institute Conference since 2019 was a welcome opportunity for the Private Brand industry to regather and network, but there was a lot more to the event as well. Velocity excelled as a forum for essential insights about how the industry can benefit from all the lessons of the past couple of years. Here are ten key takeaways from retailer and solution partner speakers at the Charlotte, N.C.-based conference.

1. Address Unmet Needs:

Finding consumer needs that haven’t been met is one of the most exciting opportunities in retail. CVS Health identified the need for a unique line of home health care products, from folding canes to walkers, as outlined by the retailer in a conference session. The need led to an innovative partnership between CVS Health and Michael Graves Design for the retailer’s Private Brand.

2. Fine Tune Brand Propositions:

With 15 brands representing about $20 billion in sales, Lowe’s Home Improvement is emphasizing the importance of enhancing strategies to ensure each brand has a unique proposition. “We’re being more intentional in making sure each brand has a position and a segment” with consumers, said Sarah Dodd, SVP, Global Merchandising.

3. Pivot for Changing Consumers:

The Private Brands industry has become expert at producing National Brand Equivalent products, but now consumers are craving innovation and differentiation, said Christopher Durham, President, The Velocity Institute. He emphasized that retailers and suppliers need to step up to meet the challenge. “We need to emerge from COVID as a confident industry that’s ready to lead,” he said.

4. Bring Joy to the World:

Party City is transforming its business with a mission to own the party category, said Susan Sanderson-Briggs, Senior Vice President, Enterprise Brand & Marketing. Private brand is playing a big role in this transformation, powered by robust consumer insights. “Our positioning is to be the celebrations category leader,” she said. “It’s about spreading joy to the world.”

5. Make Suppliers into Partners:

Suppliers are crucial partners in helping retailers to succeed with Private Brand strategies that include sustainability, said Lisa Robinson-Davis, Vice President of Quality, Process Management and Compliance at PetSmart. Robinson-Davis, along with executives from Supply Pilot and Consumer Science, emphasized the need for supplier collaboration to drive two-way communications and empower suppliers.

6. Don’t Ignore Jenny:

Retailers involved in brand transformations have the opportunity to rethink their customer bases and realign Private Brands. This is a priority for Rite Aid, whose traditional customer has been Judy, a 55-plus female shopper with multiple health concerns, said Bob Himler, Vice President of Own Brand Development. The retailer is keeping a focus on Judy while now also prioritizing Jenny, a younger female shopper (age 25 to 49) who represents a growth opportunity.

7. Spotlight Both Quality and Value:

The reinvention of Wakefern’s Private Brands began a few years ago, and shoppers are increasingly embracing the offerings in brands such as Bowl & Basket and Paperbird, said Chris Skyers, Vice President, Own Brands. “The timing could not be better for us,” he said. “We’re able to offer such great quality and great value in this economy.”

8. Listen to Judge Maria:

As a veteran judge of the Vertex Awards, Maria Dubuc knows a thing or two about award-winning design. The President of Marketing by Design (MBD) relayed keys to design success in a Velocity presentation. “ Be true to your brand voice,” she said. “Adopt unexpected color palettes. Enjoy patterns and illustrations. And never stop exploring.”

9. Act on the Permission to Accelerate:

“Consumers are giving Private Brands the permission to do things differently,” said Andre Lombard, Global Executive Creative Director, Daymon. Creative agencies can help push Private Brands beyond traditional packaging design by leveraging innovation and insights about consumers, he said.

10. Eye Innovation Beyond Products:

Retailers often emphasize products in speaking about innovation — but innovation needs to go further, said Albertsons’ Beto Galvan, Vice President of Own Brands Innovation and Product Management. He emphasized that packaging, presentation and service are important aspects of innovation.

The Velocity sessions will be available for viewing on demand by Pro and Plus members of the Velocity Institute. Meanwhile, the Institute will present a range of upcoming events, including networking meetups, virtual summits and the in-person Velocity Institute Private Brand Sustainability Summit, to be held in Cincinnati October 18 to 19.