Shout it Out
Retailers might not have the deep pockets of a consumer-packaged-goods giant. But a little creative thinking goes a long way. Consider the following tips — in no apparent order — when marketing your store brand products:
1. Don’t just promote on price. A quality store brand product at a low price might be appealing to many consumers, but it isn’t necessarily a strong differentiator.
“The most successful retailers use [their brands] to not only drive margin, but to provide a clear point of difference, help enhance the shopping experience, and — most importantly — provide customers with additional reason to come to your stores and buy more,” says Andres Siefken, vice president of marketing with Daymon Worldwide, Stamford, Conn.
Brad Hanna, senior vice president, consumer packaged goods, and group practice leader of Kansas City, Mo.-based Barkley, says the “quality and value” proposition is an entry point for many categories. Retailers such as Target, Costco, Trader Joe’s, Whole Foods and Safeway have gone beyond this proposition and carried through the more “vibrant, relevant and defined personality” of their retail brands into their store brand products to better differentiate themselves in the market.
2. Consider the category. Store brand penetration varies […]