Retailers need to ensure that whatever goes to the market stands tall as one of the best quality brands competitively priced , without looking like there ’ s private label branding devaluation which will undoubtedly raise loyalty concerns on the whole product mix . retail players to re-strategize and realign on their modus operandi to ensure that whatever is on the market is exactly what is in the alignment with consumer needs and total satisfaction - that whatever is availed to consumers is exactly what they need at that time .
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Private Label - The Future Of Retail
By Patrick Maninga
Private brand ownership and dominance has stood the test of time as a sector for specialization in key and strategic discussions of every retailer and its dominance a measure of success amongst retail strategists as well as all retail market shareholders ranging from market leaders to followers . New retail entrants have always come in and up geared with different strategies to own brands in the markets and have control over the same .
It is the vision and objective of every retailer to deliver consumer satisfaction through private branding . All players have always come in private branding through one of the most common and always perceived to be the “ easiest ” route , unknowingly , that by hacking this “ easiest ” route , it is a bearing that private label can actually work and turn around market situations in retail to ensure availability , competitiveness and continued sustainable market dominance of the mother brand , retailer hence numbers .
Just like any other brand , product dominance is the interest of any vendor when it comes to retail / market operations . Every supplier is on the run to ensure that whatever product she takes to the market , survives the test of time to compete market leaders and ultimately take over .
Private brands have come in to offset the market imbalances associated with the ever changing landscape in the retail sector .
With ever changing dynamics in the market on who controls the supply and consumption , who sets the prices and who reacts to the same through price matching as well as pushing for competitive identity , every retailer is on the strategic rush to take to the shelf a brand that she can use to fight competition or use as a deal loader to trigger or create market chaos and / or disruptions .
Private branding has made the retailers to go an extra mile to identify , analyze and come up with what exactly will ( not ) work for a particular market segment . Whilst private brands have a history of underperforming and not being able to survive market turbulences and tides , the current retail players believe that the deal is in the same scope of operations . That whatever has failed or struggled to pick light before , is exactly what is supposed to be in the hearts of the consumers .
The private brands profitability realization through consumer uptake has made both the local and international commercial and
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Retailers need to ensure that whatever goes to the market stands tall as one of the best quality brands competitively priced , without looking like there ’ s private label branding devaluation which will undoubtedly raise loyalty concerns on the whole product mix . retail players to re-strategize and realign on their modus operandi to ensure that whatever is on the market is exactly what is in the alignment with consumer needs and total satisfaction - that whatever is availed to consumers is exactly what they need at that time .
In all these , the question which has always been the fear in the trade has always shifted onto consumer perception occasioned with consumer behavior . Will the consumers pass the same retailer loyalty to the new retailer owned brands ? The question is on whether the consumer trust on the retailer brand will be translated into the private brand of the same retailer and give up variety accompanied with choices . Do consumers love the retailer for what she can offer ( spoilt for choices , varieties and ranges leading to pricing ) or generally love the retailer for who they are ( their own brand )? Are we in the market to pick on the brand we love or whether consumers are going to shift brand to brand in pursuit of quality and prices .
The bone of contention in the hearts of the retail private branding policy makers , strategists , commercial teams and foot soldiers is on whether varieties in the market can be sorted for one consumer brand , and if consumers , denied their power to enjoy varieties , will stick to the brand or jump ship in pursuit of range from other retailers . Will one brand in the whole range in a category be able to compete or outperform the rest of the self-sustaining brands with market muscles .
Among these strategies like margins renegotiations , proper range realignment , display and what have you , without forgetting what begot the retail predecessor brands that did not sustain themselves in the markets including the mother brands ,
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