Over the past year or so, Private Labels have been at the forefront of my discussions with both CPG retailers and suppliers. These products have been one of the key drivers in the industry through the latest economic downturn.
While working with a retail client recently on a Private Label initiative, one of my contacts suggested that I read “Private Label Strategy – How To Meet The Store Brand Challenge” by Kumar and Steenkamp.
Whether you are a retailer or a supplier this book is definitely a great addition to your professional library.
The authors are both Marketing professors and the book is published by Harvard Business Scholl Press. However, the book goes beyond academic theory and delves more into practical hands on advice for both retailers and suppliers.
Neatly divided into two perspectives, the book explores Private Labels strategies from a retailer perspective first and then from a supplier / manufacturer perspective in the second half.
Regardless of your role, I highly suggest reading both “sides” of the story to better appreciate the whole picture of this fast growing segment of the market.
Given that President’s Choice and “no name” are the two largest CPG brands in Canada (yes, bigger than Kraft, Kellogg’s or Coca-Cola), Private Label strategy is a subject area worth our time and attention!