Redefining innovation in Private Brands

Rather than focusing on product attributes to build uniqueness, it is becoming clear that the key focus must be on the consumer, identifying evolving needs and values and making sure the PB offer is aligned accordingly.

Taking into account inflationary considerations, innovation will be a key differentiator to deliver meaningful products to today’s consumers at affordable prices.

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While many retailers around the world needed to press pause or slow down on innovative strategies as global events reshaped consumer behaviour; increased supply chain complexities and in turn a dialed up inflationary squeeze – consumer demand for innovation has not abated. What were once shopping preferences before the pandemic are now expectations, giving Private Brands scope to redefine innovation.

READ DAYMON'S RECOMMENDATIONS FOR MEANINGFUL PRIVATE BRAND INNOVATION STRATEGIES

*This Article is Exclusively Produced by Daymon for Private Label & Licensing ME

About Daymon

With 50 years of experience building successful private brand programs around the world, Daymon is the only solution provider that influences all aspects of private brand development, from strategy to execution to consumer engagement. Daymon’s unique approach helps retailers and brands set themselves apart through a full suite of best-in-class private brand development services, including: strategy, analytics and insights, product development, supplier development and management, account management, and design and packaging management. Daymon drives brand innovation, differentiation and results.
 

For more insights and recommendations for driving your brand, contact idc@daymon.com.