With holidays filling up the calendar left and right, retailers often look to promote their products, including from private brands, in unique and thematic ways. Private brand consultancy Daymon is offering advice to those retailers to help boost private label performance around the holidays, even thematic ones outside of Christmas, Thanksgiving, etc.
“With inflation continuing to tighten wallets, private brands are in the unique position to create exclusive assortments while also delivering on specific consumer needs and price points,” said Chelsey Capps, director of Thought Leadership at Daymon. “Key private brand opportunities include the development of cohesive cross-department themes, delivering on little luxuries, and the expansion of the typical Valentine’s Day audience beyond traditional expectations to drive incremental sales.”
According to Daymon, there are three key ways that retailers can thrive when it comes to holiday promotions:
- Cross-department solutions: “Unlike category-specific national brands which are limited to segments like candy, Private brands have the unique opportunity to connect themed offerings into larger solutions for consumers and across categories. This can be done implicitly, with repetition of seasonal designs or flavors, or explicitly via targeted displays, cross-promotions, and online item recommendations. From a grocery standpoint, Daymon is finding increased cross-promotion of Valentine’s Day meal solutions, from private brand bakery programs that include heart shaped donuts and cookies to dinner and dessert recipes that highlight how to save money using retailers’ private brand offerings.”
- Delivering little luxuries: “While consumers still want to celebrate holidays, inflation continues to play a heavy role in their decisions on how to allocate their budget. Private brands can offer budget-friendly solutions for holiday shoppers across key price points, while still delivering the consumer desire for little luxuries and simple joys. Offering seasonal items in miniature sizes, under $5 price points, and even home décor items can be key ways to promote incremental sales as consumers look for simple ways to bring happiness to themselves and their loved ones.”
- Building on traditional expectations: “Valentine’s Day has shifted to become a holiday promoting inclusivity, moving beyond traditional romance to celebrating the whole family, singles, friends, and even our pets. Private brands are expanding their Valentine’s Day marketing communications and developing products keeping this expanded audience in mind. Daymon has seen this brought to life with coffee mugs celebrating self-love for singles, matching themed pajamas for the whole family, and new toys for furry friends. Additionally, we are seeing social influencers greatly impacting how holidays such as Valentine’s Day are marketed, with DIY gifting options supporting bulk purchasing, especially for school valentine needs. In the world of TikTok, Instagram, and Pinterest, these thematic seasonal holidays have opened the door for private brands to get in the mix and offer experiential solutions such as DIY cookie and cake decorating.”