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The beauty of Private Label is that it allows food retailers the freedom to develop their own offerings based on a deep understanding of their customers. It provides a point of differentiation and gives consumers greater choice. Where a national brand makes industrial-sized decisions based on driving millions of units, Private Label can deliver a more nuanced experience influenced by a specific geography or customer demographic.
A vital component of Private Label success is the quality of collaboration between suppliers. In this article, we examine how Private Label organizations can make their collaboration experience even richer.
Compared to suppliers of national brands, Private Label suppliers are small organizations. For the retailer managing a Private Label range, this could mean dealing with as many as 500 small organizations. This could be due to a very wide range of products, or because the retailer wishes to spread their risk by engaging with multiple suppliers for particularly successful ranges (i.e. Private Label cereal). This can present a communication challenge when a supplier who ‘goes deep’ on their particular product or ingredient, is working with a retailer who has to manage a breadth of relationships.
A key selling point for Private Label is the ability to create products that national brands either don’t want or don’t have the time to invest in. On the supplier side, the ideal state is to have consistency, whereas retailers want to differentiate in the market by offering innovative products that other grocery stores do not have.
A good example of this is bakery muffins.
The beauty of Private Label is that it allows food retailers the freedom to develop their own offerings based on a deep understanding of their customers. It provides a point of differentiation and gives consumers greater choice. Where a national brand makes industrial-sized decisions based on driving millions of units, Private Label can deliver...
Unless you’ve been living under a rock, you’ll know that the veganism trend is becoming highly prevalent across the globe. Growing numbers of consumers are mindfully opting to reduce their meat consumption and are turning to vegan products instead. According to forecasts by Allied Market Research, the global meat alternative market will reach a...