By Vasco Brinca, senior Vice President, Emealae, DaymonWorldwide

Retailers around the globe today have more power in the value chain than ever before as many have become actual agents for change in the lives of their consumers. From a greater focus on health and wellness to introducing opportunities to access ethnic-inspired flavors and products, retailers often hold the key to a new world of better life experiences.

Consumers on every continent have more choices about where and how they shop than ever before, creating an increasingly competitive retail landscape that blurs the lines between online and physical shopping environments.

The notion of a primary store has all but disappeared as consumers shop multiple formats for everyday needs. Digital growth has also fragmented the supply chain, as shoppers now have more choices for online ordering plus multiple points of fulfillment such as in-home delivery and click and collect models.

The actual role of the primary shopper has also changed as the responsibility is increasingly shared by several members of the household.

All of these complex scenarios make building brands and securing shopper loyalty difficult goals for retailers to achieve, but it can be done. In fact, this environment offers particular opportunities for retailers to leverage their Private Brands as a means to differentiate from competitors and inspire core consumers with targeted innovation that speaks to their particular needs.

To do this well, global retailers must invest the time and marketing muscle into offering ‘nowhere else’ experiences and robust Private Brand product lines. Start by analyzing global retail trends, particularly those that apply to most consumers versus just a specific demographic, as a means to build effective strategies.

Daymon Worldwide regularly monitors global retail trends to help our retailer and supplier partners better track and respond to future consumer needs and preferences. To see our 2015 Global Retail Trends Predictions, which were identified through the lens of our proprietary Global Trendwheel TM, visit http://www.daymon.com/newsroom/daymon-worldwide-releases-2015-and-beyond-global-retail-trends-predictions/.

In addition to tracking relevant consumer trends, it’s also crucial to review the category-specific opportunities that exist for Private Brands at a particular store level before moving forward with a new program. Of course, not all categories offer equal opportunities. Areas with high Private Brand shares and low brand loyalty are the obvious places to start, and offer a gateway to trial for other categories and experiences upon which consumers will base future decisions.

On the other end of the spectrum, and what is most exciting for Private Brands, are those areas where there’s a clear opportunity for differentiation and innovation. Some of the fastest growing include fresh meals, convenient produce, health and wellness programs, bakery and deli.

Shoppers are looking for that hook. If retailers use their Private Brands to trump competitor offerings, they will win the business and ultimately become the best choice for their customers.

For more information or to speak with Vasco Brinca, please contact him via email: [email protected].