Welcome to Velocity This Week, where we dive into the latest news and insights from the world of retailer owned brands. In this edition, we’ll explore some exciting developments in sustainability, holiday collaborations, and innovative product offerings. Join me as we uncover the potential impact of these trends and look ahead to what 2024 has in store for the private brand industry.

Sustainability Takes Center Stage

One of the most significant stories in the realm of sustainability comes from UK retailer Tesco. In an effort to reduce plastic waste, Tesco is making a big change to its popular Tesco-owned brand pocket tissue multipacks. The retailer is replacing the plastic packaging with recyclable paper, saving over 55 million pieces of soft plastic.

Tesco’s campaign manager, Courtney Pallett, explains the motivation behind this shift: “The pocket versions tend to be used on the go and can all too easily become litter. The new paper packaging works just as well as the old plastic wrap, but is more sustainable.”

Tesco’s move sets a precedent for other supermarkets to follow suit and make similar changes to their private brand packaging. By embracing more eco-friendly alternatives, retailers can contribute to the global effort to reduce plastic waste and create a more sustainable future.

Holiday Collaborations Spread Joy

During the holiday season, retailers often find creative ways to engage with their customers. Cincinnati-based grocer Kroger did just that by teaming up with Santa Claus himself for a special collaboration. Kroger’s official blog, Freshlane, promoted a retailer-owned brand and Elf on the Shelf collaboration, encouraging shoppers to whip up a batch of classic sugar cookies using Kroger-branded products. The blog post featured a list of ingredients, all sourced from Kroger’s private brand range:

“Butter, pure cane sugar, large white eggs, vanilla, bleached flour, baking powder, and iodized salt.”

This collaboration not only showcases Kroger’s private brand products but also taps into the holiday spirit and brings joy to customers. By leveraging popular holiday traditions like Elf on the Shelf, retailers can create memorable experiences and strengthen their connection with shoppers.

Innovative Offerings for Festive Feasts

Ikea, known for its iconic meatballs, took its holiday offerings to the next level by introducing its first-ever turkey-sized meatball. Combining the scale of a traditional Christmas turkey with the deliciousness of Ikea’s meatballs, this festive centerpiece is sure to be a hit.

Karen Hughes, the food manager for Ikea UK, describes the turkey-sized meatball as the ultimate Christmas showstopper: “We can’t wait for some of our customers to make it the centerpiece of their Christmas dinner.”

In addition to the turkey-sized meatball, Ikea also offers a veggie ball Christmas tree, catering to those who follow a plant-based diet. By expanding their holiday offerings and catering to different dietary preferences, Ikea demonstrates its commitment to providing diverse and inclusive options for festive feasts.

Looking Ahead to 2024

As we enter the new year, it’s essential to stay informed about the upcoming events and opportunities in the private brand industry. The Vertex Awards, an international competition celebrating private brand design excellence, is now open for entries. This is a chance for private brand designers to showcase their work and compete against participants from around the world.

Christopher Durham, cofounder of the Vertex Awards, encourages participation: “The Vertex Awards is a chance for private brand design to shine in the new year. We’d love to see how you compete against more than 52 countries around the world.”

In addition to the Vertex Awards, the Velocity Institute is hosting a Private Brands and AI Summit on February 21, 2024. This virtual event will explore the potential uses and pitfalls of AI for private brands in retail. Retail executives are increasingly focused on leveraging AI to deliver smarter, faster, and more customer-centric experiences. The summit will feature industry thought leaders and challengers discussing the future of AI in the retail industry.

The marquee event of the year, the Velocity Conference and Expo, will take place in Charlotte, North Carolina, from May 13 to 15, 2024. This event offers unparalleled networking opportunities and a platform for private brand businesses to showcase their products and services. With sponsorships, booths, and tickets now available, retailers and brands can seize the opportunity to increase their brand awareness and connect with industry leaders.

A Promising Year Ahead

As we reflect on the latest developments in the world of retailer owned brands, it’s clear that sustainability, collaborations, and innovative offerings are shaping the industry. Tesco’s move towards recyclable paper packaging sets a positive example for other retailers to follow. Kroger’s holiday collaboration with Elf on the Shelf brings joy to customers and strengthens brand loyalty. Ikea’s turkey-sized meatball and veggie ball Christmas tree cater to diverse dietary preferences, ensuring everyone can enjoy a festive feast.

Looking ahead to 2024, the Vertex Awards, Private Brands and AI Summit, and Velocity Conference and Expo offer exciting opportunities for private brand professionals to showcase their work, learn from industry leaders, and network with other leaders in the industry. The private brand industry is evolving rapidly, and embracing sustainability, collaboration, and innovation will be key to success in the years to come.

Join us on this journey as we navigate the ever-changing landscape of retailer-owned brands and strive to create a more sustainable, inclusive, and customer-centric future.