Groceryshop presentation reveals how store brands build shopper loyalty, but require enhanced product development, compliance and collaboration
Being a successful retailer isn't the same thing as being a successful brand, and even the most well-oiled grocer can sputter when it tries to switch gears.
As the retail landscape has been shaped by inflation, higher prices and value-seeking shoppers, private label has solidified itself as a strong opportunity for grocers, noted Reid Swanson, Centric Software VP, Americas grocery and retail, who laid out the good, the bad and the difficult with private label during a presentation at Groceryshop this week.
In the (very) good column, private label growth has outpaced that of national brands.
"Retailers are starting to understand that through their private label strategic initiative, they have a very unique opportunity to change the relationship with the consumer," said Swanson. "Instead of the consumer just going to their local retailer to find national brands, they are now open to building a new relationship with that grocery retailer and their own brands."
As a result, a private label relationship can help grocers build unprecedented ...