Barry Lemmon, Global Head of Retail & Shopper
Recession or not, the rules stay the same! The changing economic conditions make playing by the rules more important, i.e. truly understand shopper behaviour and use shopper insights to create compelling in-store solutions. The companies that win will, as ever, be those that best meet shopper needs at the first moment of truth.
Bruno Botton, Global Account Director
Private Labels tend to grow during recessionary times, and do not decline afterwards. Therefore it is absolutely key to keep investing in your brands, and not damage their equity by heavy promotions or cutting on quality. Think ‘value’ and not only price; reward loyalty; unbundle to help cherry pick; and don’t lose the emotional connection with your target consumers.
David Soulsby, Global Director - Sales Forecasting
The winning strategy against private label is innovation. Not just safe close–in line extensions - make sure you also have breakthrough innovation in the pipeline. Get ahead of the market and this will give you the opportunity to justify a premium even in these difficult economic times.
Douwe Rademaker, Global Account Director
Five rules to win the war against private labels:
1) Focus on your strongest brands, divest in low growing brands
2) Invest in building emotional loyalty with strongest brands, create strong brand stories
3) Innovate pack design, stand out on the shelf
4) Understand your shopper and build a strong shopper strategy
5) Last but not least, quality is king
Rosie Hawkins, Global Head of Brand & Communications
Even in recession, consumers do not make decisions purely on the basis of functional benefits such as price. Understand how your consumers are responding to the recession and devise a strategy that reflects your brand’s core values. Should you provide reassurance (of quality, durability), help (via price cutting or value deals) or a much needed escape?
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