Innovation occurs in products, fits, fabrics, silhouettes, packaging, pricing and selling methods.
The launch of new categories and new products is at the heart of any retailer’s business. New products keep consumers’ excitement levels high and add “freshness” to a brand/retailer.
Launching private label products, across a range of categories, is on the anvil for most major retailers.
As retailers grow and develop their private label brands, some plan to extend the products to modern trade outlets belonging to other retailers. While launching new private label products across categories is important, retailers must choose the categories wisely. Categories which have a dominant presence of branded products may want to be avoided or carefully assessed.
(Source: Primary research interviews)
Strategic Issues for Retail CEOs* : Perspectives on Operating in India’s Retail Sector