Meet consumer demands and create customised products via private-label vendors

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 10, 2022, 1:49 AM GMT+0

Private-label strategies are more efficient and faster and can help brands overcome supply chain issues.

As supply chain issues persist, brands and retailers looking to launch new products should adopt a private-label strategy. A private label strategy offers better production control, greater efficiency and profits since products can be manufactured by third-party vendors.

Brands and retailers can sell private-label items alongside premium products but at lower rates and better margins. By shifting production to third-party manufacturers, brands can meet consumers’ demands while avoiding supply chain issues like sourcing materials, quality assurance, and more.

Working with a private-label company that offers sample products can help brands test the product’s success and marketing strategy without completely spending their entire budget. To differentiate from big brands, pick a private-label vendor that offers bespoke ingredients and packaging.

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