MoreRetailers need to invest in their private label brands with such vehicles as consumer research and new product innovation to continue growing private label, said a speaker Monday at the second session of consulting firm ECRM's private label conference in Dallas.
Retailers need to invest in their private label brands with such vehicles as consumer research and new product innovation to continue growing private label, said a speaker Monday at the second session of consulting firm ECRM's private label conference in Dallas.
Manufacturers should extend their collaboration with retailers to foster private label growth as well, said Jerry Lauro, a senior director with Daymon Worldwide, which is the major sponsor of the conference.
Among steps Lauro recommended are:
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Leveraging consumer research to develop new private label brands
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Creating consumer connectivity with private label
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Customizing private label with consumer needs in mind
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Taking risks to bring new products to market
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Thinking globally to look for innovations and to expand PL offerings.
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