Private Brand Reinvention Unleashes Growth
Challenge
A prominent Dollar Channel retailer was suffering from an incohesive private label program that was not supported throughout the organization. Sales of existing private label products stagnated, yet overall sales and customer traffic was growing. To maximize profit potential, the retailer asked TPG to swiftly develop and launch a line of new products in redesigned packaging to which customers would relate to the retail brand while appreciating the value.
Discovery
We began by establishing an overall roadmap for the development and launch of the new product lines. By acting as the liaison between the supplier community and retailer to coordinate the overall efforts, immediate trust was established and progress achieved. This integral role allowed the opportunity to condense the overall timeline and increase speed to market. It was critical to identify the optimal balance of best cost of goods and supplier relations to bring quality products to market that delivered against the brand promise of being a value. In addition, we built a process to ensure the products would be delivered as agreed upon in the correct label, at the right cost and specifications. In order to drive awareness and trial of the new product lines, we helped create private label promotions to achieve a successful launch.
Impact
A robust strategy coupled with an outstanding launch of a high quality private label program exceeded expectations and was embraced by store customers. The retailer dramatically improved speed to shelf verses prior launches, and costs of goods savings and price increase avoidances were delivered with current and new suppliers for sustainable growth.
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