Managing Private Labels in Modern Retailing in India
Article Details
Pub. Date
:
April, 2005
Product Name
:
Advertising Express
Product Type
:
EXPERT VIEWS
Product Code
:
AEEV20504
Author Name
:
Gibson G Vedamani
Availability
:
YES
Subject/Domain
:
Marketing
Download Format
:
PDF Format
No. of Pages
:
2
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For delivery in electronic
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Description
When one looks at what a private label means in modern retailing, it is but a set of values offered and promises made by the retail organization to their customersvalues and promises from the organization that any competition simply cannot offer! It is definitely not about a product or service identity, an image or a logo created by a retail organization for its merchandise or services to be known! These values and promises, offered privately by the retailer to the customer, help to establish an enjoyable cohesion or bonding between both.
The private label brands' contribution to total sales in Wal-Mart is almost 40%, and in Tesco too. The forecast in global retailing is to attain category distinction through a careful planning of the private label brands. Supermarkets now explore non-food markets to develop own labels. As a shift in that direction, Tesco extends its Finest range into home ware.
Westside, the apparel retailing initiative from the house of Tatas, is a success story with a strategic approach to private brand retailing (approximately 80% to 85% of the merchandise retailed are their own brands). The store is said to be facing a struggle in the area of men's apparel, which is truly brand led, and the company is said to be currently contemplating to accommodate a few `must have' men's brands in the store in addition to their core private labels.