56
June | 2023
Business
H
How do I love thee, private-label
products? Let me count the ways.
1. Private labeling allows you to add
to your brand with little risk.
2. It gives customers a wider variety
of products from which to choose.
3. It allows you to easily expand your
business and add to your bottom line.
Private-label products are goods
that are sold under your brand but
manufactured by a third party, such
as a wholesaler. Here's how it works:
A fl orist wants to sell candles under
the company's own name. e fl orist
goes to a third-party manufacturer of
private-label stock and orders a pallet
of candles. e manufacturer makes
the candles and labels them with the
fl orist's label, and then the fl orist sells
the candles as the company's "own."
One well-known form of private
labeling is a store brand at a grocery
store or a big-box store—like Kroger's
"Private Selection" and "Kroger Brand"
and Walmart's "Great Value" and
"Equate" branded products. Private
labeling allows businesses to expand
their inventories, off er customized
products to their customers and
receive higher profi t margins as a result.
DISCOVER HOW
"PRIVATE LABEL"
PRODUCTS CAN
RESONATE WITH
TODAY'S CONSUMERS,
EXPAND YOUR BRAND
AND GENERATE
GREATER SALES
By Melinda R. Cordell
