Private Label Strategy Creates Customer Loyalty
Manage episode 485376685 series 3522901
The retail landscape for natural products has changed dramatically, especially since the pandemic pushed more consumers toward Amazon and online shopping. How can independent health food stores not just survive but thrive in this environment?
Jake Kivico, representing the third generation of family ownership at Nature's Finest in Phoenix, Arizona, reveals their strategic approach to building customer loyalty despite digital competition. After joining the family business full-time in 2021, Jake quickly realized that competing with Amazon on its terms wasn't viable. Instead, Nature's Finest developed a multi-faceted strategy centered around carefully selected brand partnerships and an innovative approach to private labeling.
What makes their approach unique is the creation of multiple private label brands through different manufacturing partners. Unlike most retailers who develop a single house brand, Nature's Finest operates several distinct private labels, addressing the misconception some customers have about house brand quality while ensuring customers can only purchase these products at their stores. Since most shoppers ask for specific supplements rather than brands, this strategy creates genuine loyalty by offering exclusive products that can't be found on Amazon.
Listen as Jake shares how they began this journey, the manufacturers they partner with, and how they've expanded their private label offerings over time. Whether you're a retailer looking for new competitive strategies or a brand wanting to understand the retailer perspective, this conversation offers valuable insights into building lasting customer relationships in the age of Amazon. Ready to rethink your approach to product exclusivity and customer loyalty?
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About Amanda Ballard
Amanda has worked in natural products marketing in the retail setting since 2016 and has a great understanding of the unique challenges and opportunities that retailers in this industry face. More than anything, she wants this industry to continue to boom and believes much of that success hinges on the ability of retailers to do well in their businesses and market their products effectively.
About Tina Smith
Since 2014, Tina has worked with multiple natural products businesses, discovering how to market their CBD products online, without having their payment processor shut them down, to letting customers talk about their health issues those products have helped them solve. She knows first hand how experts like you offer the best products and a superior customer experience, that is why she is committed to helping you find an easy way to grow your natural product business.
Chapters
1. Partnering With The Right Brands (00:00:00)
2. Jake's Journey Into Natural Products (00:06:04)
3. Private Label Strategy For Customer Loyalty (00:10:27)
4. Building Multiple Private Label Brands (00:17:32)
5. Brand Transparency And MAP Enforcement (00:24:25)
6. Launching And Promoting Private Labels (00:34:23)
7. Staff Education And Product Placement (00:41:08)
40 episodes