Retailers Get Creative with Private Labels to Combat Inflation
In a world where inflation is biting harder than ever, retailers are turning up the heat with their own private label brands, and the results are sizzling. Yes, even Ace Hardware is spicing things up with its own line of sauces and seasonings. Here’s a roundup of the most notable moves:
Gopuff: Recently launched Basically Premium, an elevated twist on its Basically line. Think gluten-free beef sticks and mini ice cream cones. They’ve also extended their Basically line to include everything from puppy pads to cookie bites. With a 70% YoY increase in private label purchases, Gopuff is proving that basic can be brilliant.
Target: Slashing prices across 5,000 items, including its popular Good & Gather and Everspring brands. Earlier this year, Target launched Dealworthy, covering everything from boxer briefs to paper plates, and revamped its Up&Up brand. Target’s strategy? Quality meets affordability.
Kroger: Has given its private label pet line, Abound, a makeover with new packaging and expanded offerings. With plans to introduce 800 new products in 2024, Kroger is set to keep pet owners and their furry friends happy.
CVS Pharmacy: Rolled out Well Market, uniting its existing brands under one umbrella to eliminate consumer confusion. From Salt & Vinegar Flavor-Infused Almonds to Fruity-Cereal Gluten-Free Cookies, CVS is making wellness both accessible and tasty.
Misfits Market: Expanded its Odds & Ends brand to include pasta and olive oil, complete with a brand-new look. Imperfect never looked so perfect.
Walmart: Introduced Better Goods, an elevated private label line featuring plant-based mozzarella cheese and oat milk-based frozen desserts, mostly priced under $5. High quality doesn’t have to mean high cost.
Retailers are clearly stepping up their game, offering value without compromising on quality. As inflation continues to challenge consumers, these innovative private label strategies are a win-win, providing both savings and satisfaction. Watch this space – the private label revolution is just getting started!
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Courier at Gopuff
5moShould help the company make more money. Now they afford to pay the drivers a decent price to deliver the stuff. Oh wait never mind.