BUSINESS FEATURE 33 As retailers continue to find new ways to grow their businesses, understanding the crucial elements and practical considerations involved in private label collaboration can help to level-up your growth. Spring Fair 2024 brought together industry leaders in an exciting live panel that explored how to do this. Led by Sebastian Schyberg, Sales Manager at Sebnini Trading Ltd, the panel highlighted the pros and cons of own brand products and how to make use of it. Alongside Sebastian, the panel included industry experts like Gert Schyberg Founder and Managing Director of Sebnini Trading, Louise Schild, Global Aircare Manager at Chez Quintessence Fragrances, and Chantal Pearce, Head of Buying in Homewares. If you’re looking to grow your business with own brand products, here are some of the needto-knows from our experts at Spring Fair. PRIVATE LABEL VS. WHITE LABEL Before we delve into the nitty-gritty of own brand products, it’s important to know the difference between private and white label products. Private label products are those developed and marketed exclusively by one store or company offering a level of exclusivity and brand recognition. Sebnini Trading Ltd is a great example of this as they collaborate with retailers to develop and manufacture candle and diffuser products under the retailers’ own brand names. This allows them to sell products tailored to their market. White label products are products created by one company and then branded and sold by another under their own brand name. These products provide retailers with the opportunity to offer a range of products without extensive development or manufacturing. The only difference from private label is that it is supplied in the retailer’s own packaging. For instance, most retailers sell a 100 per cent generic tea light in their stores, but it is uniquely branded for that store. If you’re a smaller company, it’s a good way to start selling own branded products. The production and order quantity tend to be smaller, and the only cost is that of your own branding. THE BENEFITS OF LAUNCHING OWN BRAND PRODUCTS • Cost efficiency: Own brand products offer a cost-effective entry into the market, especially for smaller companies, as they eliminate the need for product development costs and allow smaller production and order quantities. • Exclusivity: Private label products allow for exclusivity, catering to specific markets or customers, which is great for smaller retailers or if you’re operating in a niche market. • Brand perception: Private label products have gained consumer confidence over the years, often performing equally or better than bigger brands. • Pricing flexibility: Larger retailers can introduce own branded products at reduced prices, attracting consumers with lower pricing while still maintaining higher profit margins. UNLOCK THE POTENTIAL OF WHITE LABEL PRODUCTS At Spring Fair 2024, Sebastian Schyberg, Sales Manager at Sebnini Trading Ltd, led a panel highlighting the pros and cons of own brand products and how to make use of them. Here’s some of the main points we took away from the talk. Photo by ika dam on Unsplash
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