How to implement 12-month growth targets with private 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, is discussing 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 last 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 10th, 11th and 12th critical success factors listed in the white paper, which are:

• The need to create a trend management program to keep up with changing consumer needs.

• How to implement 12-month growth targets with private brands.

• The keys to creating a mobilized one-team approach between the retailer, supplier and consumer to deliver a far greater penetration of private brands.

Click here to listen to the fourth podcast: