Store brands are positioned to become the new leaders in CPG, says CBX partner Todd Maute, in a recent Store Brands article. But in order to maintain leadership and capitalize on this new trend, “companies need to make an across-the-board commitment to best-in-class store brands that are designed (and supported) to lead, not follow.”
A strong masterbrand strategy and collaborative partnership with suppliers is a good start for retailers to develop an excellent store brand, Maute believes. It’s also imperative that the priorities, strategic thinking, and resource allocations for all the teams in the organization are aligned with that brand strategy.
“Strategic partnerships with design firms are a key part of bringing that vision to life and communicating it through packaging and other critical touchpoints,” says Maute.
But retailers need to act fast with the industry evolving more rapidly than ever. Those that do so quickly, with a commitment to innovation and strong branding, will “capture the spoils of the new paradigm.”
Read the full article in Store Brands Magazine