Critical success factors for store brands
Tom Stephens, an expert in private brands and the founder of Brand Strategy Consultants, recently authored a white paper titled “Build and Sustain Your Private Brands with a Greater Level of Success in the Face of Rapid Change.” Stephens, who is also a member of the Private Label Hall of Fame, recently discussed the white paper in a series of podcasts with Store Brands’ Editor-in-Chief Lawrence Aylward. The white paper contains 12 critical success factors that retailers need to embrace for their private brands programs.
In this second of four podcasts, Stephens, who developed and brought Canadian retailer Loblaws’ lauded President’s Choice private brand to the United States in the early 1990s, discusses the fourth, fifth and sixth critical success factors listed in the white paper, which are:
• The importance of maintaining in-store and online execution of departments, merchandising, staffing, customer relations, signage, checkout, shelf management and product placement in regard to private brands.
• The importance that store brands should play in loyalty programs.
• How to ensure a consistent digital strategy of private brands across click and collect, home delivery and all social media communication.
Stephens will address the last six critical success factors in the next two podcasts, the third of which will appear in Store Brands Today on May 13.
Click here to listen to the second podcast: