Meijer to Detail Innovation’s Role in Driving Private Label Performance
At RetailConnections Feb. 24-26 Summit, Steve Light will outline framework for capturing new customers and locking in loyalty
Online PR News – 07-November-2012 –Brand-building is everybody’s business with opportunities to shine across all operational areas from marketing and merchandising to logistics, e-commerce, store ops, finance and IT.
And in the realm of private label brands, business is booming. Sales of store brands grew 3.9% while national brands rose just 0.6% in a year’s time, according to The Nielsen Company’s latest figures. Among those attuned to private label’s potential is Steve Light, Group Vice President, Merchandising Operations at Meijer, the big box behemoth with an estimated $16 billion in annual revenues.
Light will share insights on leveraging innovative strategies to propel private label growth and secure customer allegiance for the long term at the RetailConnections Business Executive Summit, Feb. 24-26, 2013, in Miami. In his keynote, “Taking Private Label Brands to the Next Level: The Role of Innovation as a Foundation for Growth,” Light will outline the forces shaping private label programs including globalization, trends in sourcing and the new frontier of digital media and e-commerce.
As Meijer and other retailers are well aware, private labels are outperforming national brands on key metrics, reaching record-breaking levels in both dollars and units sold. And price is becoming a rapidly diminishing consideration for consumers, even as the economy shows signs of recovery. Savvy retailers are investing in existing brands and building new product families to seize this rich opportunity.
Just this week, Walgreen launched its own line of “green” household goods under the Ology name as a way to differentiate itself from competitors. The first wave of 24 baby and personal care items, light bulbs, cleaning and paper products will hit more than 7,900 stores this week. Another two dozen Ology products are due out this spring from Walgreen.
RetailConnections Summit presenters include
Registration for the RetailConnections Business Executive Summit Feb. 24-26, 2013, is open to qualified retail executives and registration via www.retailconnections.com. Discount rates at the Turnberry Isle Hotel & Resort are available for a limited time, after which point reservations will be accommodated on an as-available basis. Sign up now for this once-a-year senior leadership Summit.
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