MBD recently attended Velocity: The My Private Brand Conference in Charlotte, NC. During the conference, one of the speakers said when she first described her job in the private brand industry, she would say, “You know when you go to the store and there’s the cheaper brand? I work on those ones!” I have to confess I used to say the same thing.
Over the years, I have learned so much about the importance of developing a private brand with emotional appeal. Private brands need to work just as hard (if not harder) than national brands to develop a unique brand identity and connection to their consumers.
Velocity reminded me why I love this industry and why innovative marketing for private brands is critical. It was exciting to see how the industry is evolving and moving toward more creativity and honesty than ever before.
Some of my key takeaways from the event:
1. Transparency is the new definition of quality.
2. Consumers want products that are not only good for them but also good for the environment.
3. Private brands need to have a compelling story and show the people behind the products.
4. By 2044, America will be a multicultural majority. Private brands need to intentionally reach people from all cultures.
5. It is key to develop a private brand e-commerce strategy before it is too late. Developing 2 versions of packaging artwork (online & in-store) makes it easier for consumers to purchase online.
Maria Dubuc, President of MBD and WBD, recently shared her point of view as apart of a My Private Brand Blog. Be sure to check it out here!
I’m already looking forward to next year at Velocity. Thank you to all who made it such a vibrant and inspiring conference!
- Katie Locke