The Ten Keys to Retail Brand Success - Intro


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Introduction to Patrick Rodmell's 10-part series on the Keys to Retail Brand Success.

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The Ten Keys to Retail Brand Success - Intro

  1. 1. PLBUYER NOVEMBER 2010 The Ten Keys to Private Brand Success Guest Commentary Introduction BY PATRICK RODMELLKEYS TO RETAIL BRAND SUCCESS:It’s time to move from private label to retail brands I love Ikea. Not just as a shopper, into private brand strategy and Aldi and Trader Joe’s, whose retail these foundations the “Keys to Retail but as a retail consultant who how the programs could support brand strategies are dramatically Brand Success.” They are: marvels at the journey it’s taken the overall retail proposition. The different but represent the majority • Strategic Brand Positioning to get into the hearts and minds result – cheap goods that looked of each chains product range, it’s • Product Quality Management of consumers. even cheaper, with only price as an hard to argue against the potential • Effective Pricing Strategies Once, whenever anyone visited your inducement to purchase. for significant upside. • Communication of Purchase home, there was always a slight In the stores, shoppers felt As a company that has provided Drivers anxiety that they would recognize ashamed when they would put a integrated consulting, marketing • Process Engineering that your sofa or dining room table private label item in their shopping and design execution for more • Product Innovation was from Ikea. It looked cheap, and baskets. Regrettably, these private than 100 retailers worldwide, • Performance Measurement it implied that you were as well. label programs still exist on the we’ve seen the good, the bad and • Associate Engagement Then through the early ‘90s, a shelves of many retailers in North the ugly when it comes to private • Market like a National Brand transformation started to occur. America. Those that have made label. Along the road, we’ve • Store Execution Ikea styles got better. The quality improvements still have lots of room uncovered the key success factors in In the coming issues of PL Buyer, improved. And its advertising to improve. determining whether a private label I will be providing more insight into started to connect with a different In Europe, private labels have will eventually take hold as more each of these keys to retail brand consumer DNA. Ikea had overcome historic stigmas and most than a price alternative and become success, a deeper dive into one key transformed itself from a shameful have achieved retail brand status. a retail brand. There are some in each subsequent issue. necessity to a badge of honor. Could North American retailers common foundations that apply Private label is on a similar realize this level of success? In the universally in the retailer’s quest Patrick Rodmell is President and CEO of journey. Historically, there really short term, not likely. But when you to realize maximum value from its Watt International, a Toronto-based retail wasn’t a whole lot of thought going look at the success of companies like exclusive lines of products. We call agency.