Competition in the private label market is becoming more and more intense, and not only dealers and retailers, but also e-commerce platforms and department stores have begun to actively participate. Looking at market trends, private brands are also changing, and how to respond to this has become a new issue. To this end, here are three ways a new private label brand can revolutionize the beauty and personal care market.
1. Prepare to compete
As luxury private brands and affordable private brands develop their business online and offline, the private label living space of pharmacies and supermarkets is being squeezed from both sides. Amazon is currently focused on becoming a key sales channel for big-name brands, but the e-commerce giant is looking to expand into the private label market, especially after its acquisition of organic food supermarket Whole Foods Market. There are signs that they are considering it. Whole Foods’ private label beauty business is small but mature and has the potential to become a high-end product platform offering natural skin and hair care products.
2. Make a fuss over price
Specialty beauty retailers are already able to build Private Label 3.0 and come up with new concepts and personalized products, but they need to be aware of some obstacles. Previously, private label products were easily identified by simple packaging and lacked trademarks, which often gave the impression of poor quality. But this moment is the same as that moment. To stay ahead of the competition, retailers are beginning to recognize the value of investing in private label products.
3. Broader online marketing
Online marketing strategies provide private labels with a channel to spread their brand story and display personalized products that resonate with their target consumers. Private label exposure in the online world is very important as young people primarily shop online. The ability to understand and leverage customer consumption data is also important, as so many brands compete for users’ attention.
To reach younger consumers, private brands must incorporate social media shopping into their multiplatform retail models. Therefore, businesses need to create a seamless shopping experience across media platforms. Pharmacies can also tap into the consumption potential of young beauty-loving people, create their own brand and spread it through social media celebrities.
Post time: Dec-07-2023