Own Brands, From Value Driven to Valuable
Competitive pricing is no longer the only value own brands add to retailers. They can build reputation, loyalty and sales, but their design and management requires a considered approach and careful research into audience and category behaviors.
Having an own brand offers well-documented benefits. It can be a boon to business financially and reputationally. However, how companies in different places around the world build, manage and implement these brands varies widely. Considerations must take into account packaging design, category, audience, fit with the corporate brand and perception. Successfully achieving an effective own brand requires a deft hand and a keen understanding of audience.
Design and packaging are key considerations when developing an own brand, particularly when consolidating brands. CBX, a New York-based brand agency, developed six labels – from over 60 existing brands – for Walgreens that were suited to their categories. Similarly, its work for chemist Duane Reade focuses on audience and category while using creative packaging techniques, doubling private label sales. Even more starkly, it cut American warehouse retailer BJ’s Wholesale’s own brands down to two, one for food brands and one for non-food brands.
Read the full article in Transform magazine