Upping The Ante On Private Label Sourcing
For the past decade, retailers have increasingly embraced private brands as a strategy to continue bottom-line growth. However, most have focused disproportionately on branding and positioning and have not fully rolled up their sleeves to address sourcing strategy and execution - which could be critical to unlocking the value of private brand profits. In this article, sourcing capabilities needed to be effective in today's private label environment will be outlined. The risks, rewards, and influence that private labels have on a retailer's competitive strategy will also be explored.