“This year’s Private Brands Summit goes beyond creating ‘me too’ products and looking at how to successfully compete on more levels than just price,” said Joe McKie, vice president of private brands at FMI.
Since its introduction on supermarket shelves in 1978, Private Brands shifted from competitively priced substitutes to items that are considered not only affordable, but also high quality and flavorful. According to FMI’s U.S. Grocery Shopper Trends 2011 report, shoppers originally purchased Private Brands to save money, but are now sticking with the products for their taste. These trends open up more discussions for Summit attendees, as they learn how to strategically manage their brands and grow stronger consumer loyalties.
FMI will share results from a partnered report with Buxton, looking at customer analytics for private brands at retail and present case studies for determining an ROI calculation. Buxton’s process included testing and fine-tuning marketing efforts to provide an understanding of the best ROI when marketing to loyal Private Brand customers, while giving incentives to “switchers,” or those likely to buy both Private Brands and National Brands. Meijer, Inc. and John B. Sanfilippo & Son, Inc. were the retailer and supplier companies, respectively, who participated in the case study.
“When it comes to private brands,” knowing your customers” is the most critical element for brand owners when developing their brand strategies.” McKie said. “Our research, supplier partners and presenters at the FMI Private Brands Summit, indicate that we need to challenge the strategy model for private brands – we have to give customers one more reason to shop and a reason to come back – since price is no longer the unique motivation.”
Media Information:
Studies available for press
Interviews with Joe McKie
Industry Topics address your specific area of expertise with resources, reports, events and more.
Our Research covers consumer behavior and retail operation benchmarks so you can make informed business decisions.
Events and Education including online and in-person help you advance your food retail career.
Food Safety training, resources and guidance that help you create a company food safety culture.
Government Affairs work — federal and state — on the latest food industry policy, regulatory and legislative issues.
Get Involved. From industry awards to newsletters and committees, these resources help you take advantage of your membership.
Best practices, guidance documents, infographics, signage and more for the food industry on the COVID-19 pandemic.
