Thinking Inside the Box

July 29, 2010
/ Print / Reprints /
ShareMore
/ Text Size+

Just as many are thinking about life for private label post-recession, and just as many are thinking about life in host country South Africa after the World Cup, we should all be thinking about where we go with our programs after whatever event we are working on now.





By the time you read this, we will all know the results and the winners and losers of soccer's World Cup, the greatest sports event in the world. What is so important for any host country is not only the tourism, the extra visits and money spent, but also the legacy left behind.
Kind of like our private label promotions. We all (or nearly all of us) plan these events in our businesses, whether we are a retailer or a manufacturer. We’re all after that great push for increased sales and profits. But what happens afterward?
Just as many are thinking about life for private label post-recession, and just as many are thinking about life in host country South Africa after the World Cup, we should all be thinking about where we go with our programs after whatever event we are working on now. We’ve had Memorial Day, or whichever holiday summer/barbecue celebration we have in the northern hemisphere. In the southern hemisphere, plans are in place for a change of cooking and shopping patterns and, of course, the build up for all of us towards the holiday seasons coming in the Fall and December.
Have we evaluated the ongoing buildup of our private label promotional activity? What are we doing about our product development program? And do we have a focused and carefully targeted funnel of developments coming through the project management beaurocracy?
Many of us are addressing SKU rationalization. What are we going to do with the space? Offer more facings of what sells and makes money? Hopefully. How about taking out major gondolas and installing more fridges and fixtures for new areas of the new products that consumers are looking for, and often struggling to find?
Are we gearing up our product development teams to be able to do more in terms of creating destination products? We have the traffic coming into the store. But our competitors are doing everything they can to divert that traffic and attract our customers to their stores - through new formats, new products and new programs.
Even total new store formats are emerging fast. Smaller, fresher, lower-priced, more nimble and better managed for success, the new formats with far fewer SKUs than conventional supermarkets are showing us that often, less is more. And always with strong private label.
So, time to think about the legacy of the recession. Not only low price, but also product focus. Meal solutions. Convenience. Fresh. Recipes. Balance of space to meet demand. Creating zones and destinations that are different from the norm.

All these issues address customer habits. Private label should be our major factor to address these changing habits. Our favorite team may not have won the World Cup. But our favorite team in store will always win, as long as we study, train, keep fit and constantly seek and develop new ways to overcome our opponents.

 

Did you enjoy this article? Click here to subscribe to Private Label Buyer.

Recent Articles by Tom Stephens

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

November 2014 New Food Products

This month's new food products are Flours, crepes, lollipops, several candy items, pancakes, dip, fish, raisins, pizza, almond milk, peanut butter, and a breakfast bowl.

Podcasts

Coming with a clear, comprehensive plan was the key to success for Longo Brothers Fruit Markets when the grocer decided to roll out a two-tier private label strategy, Jenny Longo and Robert Koss tell PLBuyer editor Chris Freeman in this podcast.

More Podcasts

Private Label Buyer Magazine

PLB November 2014 cover

November 2014

The November 2014 issue of Private Label Buyer - its last issue - includes articles about the retailer as manufacturer and OTC/healthcare items, as well as category insights on pizza and household goods. Check it out today!

Table Of Contents Subscribe

Private Label Segments

Which segment of private label will see the biggest growth over the next year?
View Results Poll Archive

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40pxgoogle+ icon 40px

PLB Marketplace