Private brands surge as retailers try to boost sales
Offering exclusive, high-quality private brands is becoming a critical tool for retailers looking to develop loyal customers in todays highly competitive marketplace, experts said on Sunday at the National Retail Federations annual conference in New York.
We have the sameness everywhere, Wilson Zhu, vice president of private brand development and global sourcing at Office Depot Inc. said during a panel. You cannot make a profit by selling Coca-Cola because everybody has it.
So retailers are developing exclusive products that they hope will not only attract shoppers to their stores, but will also entice them to return for the exclusive item.
