Private Brand Development
Leading retailers are putting in to action robust annual planning processes with common scorecards and tools and key sessions for cross-functional team action planning. This annual planning work has inputs from category buyers and category planning as well as top down targets that must be achieved. Done well, this work helps uncover significant gaps to PB financial targets and an action plan to close gaps and exceed expectations.
Private Brand Development work also involves strategic supplier management and optimizing the sourcing strategy including PB Joint Business Planning work with suppliers. Important areas today are around Product Innovation and Product Safety/Quality management.
What We Do
TPG’s Private Brand team has designed and implemented new or upgraded annual planning processes to drive PB growth and cost management for retailers delivering faster response to variances to budget and forecasts and a stronger path to adjustment of plans to exceed plans. We have worked with our clients on sourcing strategies, optimizing product-buying prices, but with an eye on the customer and innovation as well. A partial list of our Private Brand Development consulting services includes:
- Private Brand Annual Planning Process Design: TPG will design and implement an annual process applying industry best practices, clarifying roles, responsibilities and integrating it with other key retail processes.
- Supplier Management: TPG enables the retailer to source their products successfully and supports a constructive relationship with the supplier (Joint Business Planning) that facilitates new shopper insights and innovation.
- Product Innovation: TPG provides and customizes a repeatable process for ongoing development of consumer brand platforms and concepts that stretch across categories. This ensures a manageable and stable pipeline of private brand innovation year over year. This work leverages the unique capabilities of the retailer (shopper insights, access, merchandising strength) to deliver fast, projectable sales and profit results.
- Product Safety/Quality: In today’s social media driven world, Retailers must ensure product safety to protect brand equity. Consistent product quality (in line with the Brand guidelines) is crucial for building a strong brand. This contains both the real quality of the product as well the perceived quality (packaging, price level, product design, place on the shelf).