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Change Is Coming And Will Drive Business, Expert Advises

March 23, 2012
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Change is not only coming, but it will drive business going forward, said Robyn Waters, former vice president of trend, design and product development for Target.


Change is not only coming, but it will drive business going forward, said Robyn Waters, former vice president of trend, design and product development for Target.
 
Translation is the key for retailers and suppliers in the marketplace, Waters told attendees at the Private Label Manufacturers Association (PLMA) annual meeting March 23 in Florida. “If you want to thrive in today’s climate you have to embrace change,” Waters said.
 
Part of that change comes in global retailing, she said, with the customer controlling the experience by being able to research and buy products online with credit cards. It’s also a save/splurge mentality, one that will benefit both private label and name brand retailers.
 
“Customers are choosing to buy more private label goods, but they’re not going to stop buying name brand products,” she said. “They’re going to do both. The very same customer that will buy private label for toothpaste or laundry detergent, every once in a while, they’re going to splurge on that pair of designer sunglasses they’ve been saving for.”
 

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