Guest
Retailer-Owned Brands Can Be Little Luxuries, Too
Over the past year, as global events, weather catastrophes and economic volatility have unsettled consumers, they have increasingly turned to more modestly priced “little luxuries” for comfort and a reward. Younger generations, especially Millennials and Gen Z, are taking the lead, looking for ways to treat themselves without spending a lot, even if it’s only for an ice cream, flavored latte or new lipstick. One publication described it as buying non-luxury items as a reward for small accomplishments or as an act of self-care during stressful times. This trend has been documented and spread on social media platforms like
Shaping 2024: Key Private Brand Trends Unveiled
Entering the transformative landscape of 2024, the marketing dynamics for retail and e-commerce are undergoing significant shifts. Retailer-owned Brands (private brands), strategically positioned, are poised to be pivotal players in defining this evolving terrain. Navigating through technological advancements and dynamic shifts in consumer behavior, marketers must have the foresight to anticipate and seamlessly integrate emerging trends. The Human Touch: Authentic Connections in a Digital Era As technology permeates our lives, there's a growing desire for authentic human connections. Private brands have a unique opportunity to address this by emphasizing emotion, creativity, and empathy. Effective storytelling that highlights the human
What is ‘Scope 3’ and why should we care?
What is it, and why do you need to know? Your private brand customers are unlikely to ask you about Scope 3. But they will talk about Sustainability. Carbon. Net zero. Climate action. Greenhouse gases. Supply chain emissions. Whatever we call it – lets keep it simple and say GHG (greenhouse gas) – what is important is that according to McKinsey in retail over 90% of your GHG impact is in your products and supply chain. These are what the GHG Protocol calls Scope 3. You will need to understand your Scope 3 to engage the increasingly sustainability aware
The ‘new normal’: a time for private brands to seize the day!
Private brands want to be confident that the sales surges of the pandemic era will ultimately translate into long-term sales, but what could scupper these gains is the lack of differentiation in the premium end of the private brand scale. It’s said that the highest form of knowledge is empathy. If this is true, then the highest form of knowing our customers might be empathizing with them. Today’s customers are time-starved, stressed out, and almost ubiquitously confronted by inflationary price rises. Amid the shelves of varying quality tiers, numerous flavor varieties, and brands incorporating increasingly complex brand messaging, they
The cost-of-living crisis: a moment of truth for private brands?
Availability issues prompted trial of private brand products during the pandemic, causing sales to surge. But will the momentum fade in the cost-of-living crisis which has followed? Most private brands now face a moment of truth: will their products win out over branded goods in areas of recognition and perception, or will consumers’ willingness to spend on branded products return with a vengeance? Planning to cut back on eating out or ordering takeaways? I know I am. For many of us, it’s hard to ignore the squeeze the cost-of-living crisis is putting on our wallets. In fact, a recent study
The undeniable truth
Retailers and private brands have seen huge disruption to their supply chains due to COVID-19 and the war in Ukraine. But this is nothing compared to the impacts to come; the effects of climate change will dwarf those felt in the last couple of years by the pandemic and global volatility. But are too many are still just paying lip service to sustainability instead of seeing it as the bountiful opportunity it is? Maybe somewhat surprisingly, you do not have to be an ‘eco-warrior’ or play into tree-hugging stereotypes to realize that the impact that we have on the
Investing in Innovation for Private Brands to Combat Inflation and De-globalization
With pervasive shifts in consumer trends and today's inflationary environment, food retailers and manufacturers can no longer rely on long-held assumptions when it comes to private brands. How can private brands retailers and manufacturers improve efficiencies and collaborate for success? Doug Baker of FMI joins Roger Davidson, founder, board chairman and COO at MaGi Foods, to discuss the importance of private brand innovation in today’s food retail landscape. Doug Baker of FMI Roger Davidson, founder, board chairman and COO at MaGi Foods During your career in private brands, I’m sure you have
Having a more sustainable supply chain is the obvious (and only) choice
The evidence in favor of Retail Brand (private brand) supply chain sustainability has never been clearer; over 80% of your environmental and social impact comes from your supply chain. It is a no-brainer that you need to work with your suppliers to truly become a more sustainable and responsible business. It is not only investors but also consumers who are demanding transparency and a drive towards sustainability across the supply chain. Greener choices and lower carbon lifestyles are not showing any signs of going away. The COVID-19 pandemic has accelerated green trends, with 93% of people globally saying that
Shoppers Take a Fresh Look at Private Brands
This guest post comes from Doug Baker, Vice President, Industry Relations, FMI and Steve Markenson, Director, Research and Insights, FMI What do you know about shoppers’ views on grocery private brands? Consumer attitudes have evolved in the last couple of years, and food retailers and manufacturers can no longer rely on long-held assumptions. That is why FMI’s Private Brands Leadership Council recognized the importance of conducting new consumer research on this topic. The results are showcased in the latest version of FMI’s The Power of Private Brands series subtitled What Makes Private Brands Powerful to Shoppers. Compelling Questions for
Reimagining Retail Brand: Sustainable Packaging
We know that consumers care about the environment and enjoy the power they have in addressing environmental challenges. They do this by aligning themselves with brands that provide greener solutions. To most consumers, “greener solutions” means reducing plastic packaging.So where do you start with your brand?Plastic ReductionPlastic reduction can be as simple as ‘right sizing’ you’re packaging.Companies such as Unilever and Procter and Gamble began to convert their products to use less plastic, with cleaning liquids that were concentrated by 2X and 3X to do the same job. The result – smaller plastic bottles. Reductions in size meant less plastic,
