Date: 24.02.2021 | Shing Yee
Sometimes referred as OEM (Original Equipment Manufacturer) products, private label products are items manufactured by a third-party manufacturer, and sold under a retailer's brand name. As a retailer, you can specify everything about the products, including the specifications of the products, how it is packaged, and how your label looks like on the products etc.
Private label products can be profitable for your store, if done right, not only it can give your store additional product lines to sell, but also helps in increasing the credibility and trust of your store.
If you, as a retailer or brand owner, have considered offering a line of private label range products, it helps to become more familiar with the pros and cons as you work through the process.
1. Research your target audiences
Try to perform in depth research on your target audiences, knowing their preferences and needs, and create the brand and appearance for your private label product lines that matches the quality level in comparison with other familiar branded product lines.
2. Tell your brand story
Communicate the story behind your brand i.e. how the brand source the ingredients, where the products are made or what kind of certifications that your products had acquired etc. Nowadays, many retailers use cost effective channels such as social media or online stores to communicate their private label brands story, this might helps in closing the quality-perception gap that many private labels face.
3. Show your product and brand differentiation:
Utilize the design of product packaging to draw attention to the consumers with your brand language and convey the functional benefits of the items to differentiate your private label brands from other branded names.
If private label strategy is done right, it can be a great advantage for your retail store and your brand. Start slow, and ease into it by testing with one or two products versus a whole line of items.
For your first few products, take note of which branded items are your best sellers in your retail store.
For example, if you sell a variety of gloves, find out the gap of the demands and get a gloves supplier who can create a similar item, add your own twist to the design such as offering bigger size to target your male audiences, offering new color to broaden the choice, or package it into an economic two pair pack, and have a label created with your own unique brand.
At this point, if you are looking at expanding your private label brands with gloves products, here are something that we would want to share with you: Ever since the outbreak of COVID-19, there are a lot of scams and frauds related to gloves products. We have previously wrote about on how to choose a reliable gloves manufacturers for your business, take a look here. If you are focusing your search in Malaysia, you might find this article helpful.
Drop us an enquiry here to find out how we can help you to develop profitable private label gloves products.
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