Todd Maute from NACS Show Panel Urges C-Stores to Take a Savvier Approach to Private Label
LAS VEGAS, NV, Oct 10, 2012 (MARKETWIRE via COMTEX) — Well-executed branding strategies for private label products can help convenience stores set themselves apart, bolster shopper loyalty, improve price perception and, ultimately, boost their bottom lines. And yet the industry still has a long way to go when it comes to taking full advantage of private label’s powerful potential, said Todd Maute, a partner in the global branding firm CBX, during a panel discussion Sunday at the National Association of Convenience Stores (NACS) annual expo and convention.
“Private label is a hot commodity and is in the news a lot these days,” Maute told the audience during “Private Label Profit Puzzle,” a panel discussion featuring c-store and branding experts from four national firms. “But much of its recent growth has been driven by the sluggish economy and is the result of consumers ‘trading down’ in search of better price values.”
During the panel discussion, Maute underscored the need for the industry to adopt a new attitude about private label — one in which companies see private label products, not as lower-tier alternatives to the national brands, but as powerful marketing and branding vehicles in their own right.
“If economic weakness […]