Contributed by Richa Kapoor
With India on the cusp of a retail revolution and discount stores riding high on the wave, the only way retailers can create moolah for themselves is having their "Private Labels".
But the only caution for retailers is that there should be a clear understanding of what a Private Label strategy mean and what are the different types of labels which can compete in the market:
Store brands – The goods produced by the retailer himself, to transfer the cost benefits to the consumer are called store brands. The retailer's name is very evident on the packaging. for eg: Shoppers' Stop : STOP
Store sub-brands - Products where the retailer's name is low-key on the packaging.
Umbrella branding - A generic brand, independent from the name of the retailer.
Individual brands - A name used in one category, this is only used to promote a "real" discount product line.
Exclusive brands - Again a name used in one category, but to promote "added value" products within the category.
Copycat private labels - brands owned by a retailer which use similar trade dress, i.e. packaging as a leading national brand.
Reference: The Free Dictionary
Wikipedia, about retail