Category: Thoughts

Pricing strategies

Unleashing the Power of Pricing Strategies for Businesses

Infiniti Research, a leading market intelligence solutions provider, has announced the launch of their latest newsletter on pricing strategies for businesses. With the market becoming increasingly competitive, choosing the right pricing strategy isn’t easy as it used to be. Today, customers demand robust and timely services that cater to their needs. Also, with the rising use of the internet and smartphones, customers can now compare prices with just a click of a button. So, the pricing strategies that companies choose must be one that not only gives a good ROI but also gives a sense of ‘value for money’ to customers.

Adopting Healthcare Pricing Strategies: What to Keep in Mind

Changing economic and demographic characteristics are affecting the healthcare needs of patients worldwide. So, healthcare companies are under the pressure to create robust pricing strategies to attract customers, cover costs, and make profits.

Although there are a number of pricing strategies that healthcare companies can employ when setting the price for their products and services, it’s vital to have a value proposition that justifies those prices. This is where the real power of devising a competitive pricing strategy comes into play.

Adopting a competitive pricing strategy can help healthcare firms as it helps strengthen their brand value and save money in the long-run. By leveraging a competitive pricing strategy, healthcare firms can gain access to real-time price trends in the industry and competitors’ pricing models. There are certain factors that enable healthcare companies to competitively price their products and services. Our latest blog unveils these key factors and more.

Why your product pricing strategy needs an update?

To sustain a leading edge in today’s competitive marketplace, businesses must revamp their traditional pricing models and proactively respond to competitors’ plans and price changes. Gone are those days where businesses leveraged cost plus pricing strategies by solely relying on the cost of production and distribution. Today, businesses must take into consideration various factors such as competitors’ pricing models, the market value for the product, demand patterns, and price elasticity while setting the price for their products.

Our latest blog highlights four reasons why businesses must leverage new pricing strategies. If you are still confused about choosing the right pricing strategy for your business, Infiniti’s experienced market research experts can help.

Pricing a New Product: Right Pricing Strategies to Follow

Recent research shows that even minor variations in product pricing can lower or raise profit margins by more than 20-25%. So, while setting the price for a new product, businesses must formulate product pricing strategies that are favorable to all the parties involved. But, is it an easy task? Certainly not! To assure profitable sustenance, businesses must price products such that it covers the production cost, company overheads costs, and offers suitable profits.

By conducting qualitative and quantitative market intelligence study, our experts have figured out some of the key product pricing strategies that can be used while setting the price for a new product. Gather detailed insights into these pricing strategies in our latest blog.

smart packaging

Using Smart Packaging to Tackle Business Challenges – How the Market Leaders Are Doing it

Smart packaging is still evolving, but we cannot completely ignore its importance. Agile businesses are looking at packaging as a possible holistic solution to transform the way they deliver, sell, and use products. Innovative smart packaging applications are being embraced by market leaders across industries who are trying to leverage the benefits of smart packaging solutions to enhance their operations and at the same time provide an unparalleled customer experience. In this blog, experts at Infiniti explore how top companies are using smart packaging to overcome some key business issues.

Our analysis of the packaging space suggests that the different applications are arriving in waves. Is your business prepared for such transformations? Request a free proposal to know how we can help you stay updated with the latest trends and innovations in your industry.

How businesses can benefit from smart packaging

smart packagingInventory and lifecycle management

Smart packaging can provide solutions to common supply chain challenges including sourcing raw materials from suppliers, managing the supply chain, and delivering products to the final customer. With smart packaging solutions, companies can gain real-time ability to track and trace the exact product location in the production and distribution cycle. It also offers benefits including agility, quality and safety, and sustainability.

Protection against internal and external threats

Packaging of a product often acts as a valuable layer of defense against both internal and external threats affecting the product integrity. In the food retail industry alone close to 30% of food products are known to be discarded due to spoilage. Smart packaging can help avoid such counterfeits and combat excessive losses for companies. By using advanced technologies such as blockchain, brands can create a secure, unalterable record of a product’s origin as well as the path to market.

Smart packaging offers significant opportunities and a real risk of disruption. Get in touch with our experts to know more about our solutions for more insights on what your business needs to know before implementing smart packaging solutions.

Enhance user experience

Using packaging, brands can enhance user satisfaction by making the use of the product more engaging, efficient, or informative, as well as by providing valuable consumer insights to brand owners and retailers. Companies can earn greater brand loyalty by using innovations in smart packaging to lure more customers. For instance, some brands are even using technologies such as AR-based apps to transform the customer experience through packaging.

Learn more about how Infiniti’s solutions can help your business

strategic planning

Uncovering the Potential of Strategic Planning in Healthcare

The U.S. healthcare system is extremely complex and often difficult to comprehend. Healthcare consumers face difficulty in understanding the factors that cause limited access or uncoordinated care, conflicting interests amongst healthcare providers, and even high charges that leave financially broke. Healthcare organizations itself are often affected by rapid changes taking place in their external environment. Amidst the dynamic nature of the industry, it is vital for healthcare providers to undertake a strategic planning process to streamline their operations.

What is strategic planning in healthcare?

The answer to what is strategic planning in healthcare is simple. Strategic planning involves creating objectives and setting goals relating to where a healthcare company would like to go in the future, and then constructing a plan to achieve these objectives. Healthcare strategic plan must consider the factors that could change the organization’s operations significantly. This includes potential government policy changes, technological advancements, and economic trends. Although some providers tend to overlook the importance of strategic planning in healthcare, agile organizations in the healthcare industry use it to their advantage to succeed in both long and short term.

The work of strategic planning doesn’t stop at the strategic plan, but it’s a start. Request a free proposal to know how our experts can help healthcare organizations in effective strategic planning.

Benefits of strategic planning in healthcare

strategic planningStrategic planning in healthcare has numerous benefits primarily because healthcare organizations operate at many levels ranging from patient care to financing. As such it is crucial for healthcare systems to plan well in advance for the future. Unlike traditional planning techniques, a strategic plan takes into account every sector of the organization, considering foreseeable changes for all departments. Some of the key areas that a healthcare strategic plan can significantly improve include:

Helps become proactive

Strategic planning helps providers to become proactive rather than reactive. Through strategic planning, healthcare companies can anticipate unfavorable events much before they occur and allows the organization to take necessary precautions before they actually happen.

If you're considering adopting strategic planning at your organization or are looking for ways to align your operations, then Infiniti may have just the solution you've been looking for. Get in touch with us for more insights.

Increases operational efficiency

Having a strategic planning process in place acts as a roadmap for healthcare companies to align the operational activities to achieve predetermined goals. It guides management discussions and decision making in determining resource and budget requirements in order to accomplish the key objectives, thereby increasing operational efficiency.

Enhances market share and profitability

Organizations can gain valuable insights with strategic planning on market trends, consumer segments, as well as product and service offerings in healthcare which can have an impact on their success. An approach that is targeted and well-strategized to turn all sales and marketing efforts into the best possible outcomes will facilitate in increasing profitability and market share.

Makes the business more durable

Due to the highly dynamic nature of the healthcare industry, organizations that lack a durable foundation, focus and foresight will have trouble riding the next wave. Strategic planning in healthcare ensures that organizations are well focused on what they want to achieve and how to achieve it.

Learn more about Infiniti's solutions for the healthcare industry

Employee experience

How Creating an Unparalleled Employee Experience Enables Successful Business Transformation

Employees who are confident and well-prepared are integral to fueling business transformations. Several top organizations are investing heavily into employee intelligence capabilities that give a better understanding of employee experience and expectations and the gaps in catering to them effectively. An employee journey becomes fruitful only when the organization is successful in providing a unique and valuable employee experience. As employees are crucial to executing business transformations smoothly, it will become extremely difficult for a business to succeed in its ambitions unless their employees feel invested. They do better when they are rewarded for experimenting, envision their place in the firm’s future, and can ask questions. Moreover, helping employees understand and realize their full potential can equip an organization with the talent and elasticity to succeed in a rapidly transforming world.

Interested to know more about creating a unique employee experience culture for your organization? Request a free proposal to gain access to our employee intelligence dashboard.

employee experienceWhat is employee experience?

Employee experience (EX) is the new competitive frontier for agile organizations who have realized that it is no longer enough to make customer experience (CX) a corporate priority. EX encompasses everything that an employee experiences in his or her related to the organization. This can range from their first contact as a potential recruit to the end of employment tenure with the company. It is often influenced by the company’s physical workspace, the work-life balance, and technology that enables greater productivity.

Why is employee experience important?

Companies that invest into employee experience enjoy the employee experience advantage. So why is employee intelligence so important? Several workforce factors have contributed to the rising importance of employee intelligence in organizations. Across industries, there is a prevalent war for talent. As such, it is becoming harder than ever for employers to attract and retain talent. A superior employee experience management can give employers a competitive advantage in attracting recruits and engaging them in ways that encourage them to stay with the organization. Moreover, due to the widespread use of the internet and social media, organizations can no longer hide behind employer branding campaigns or rely on skillful recruiters to position themselves among recruits.

Get in touch with an analyst to learn how to set yourself up for success with our Employee intelligence solutions.

How to improve employee experience

Use employee journey mapping

Employee journey maps show the various stages an employee goes through in their time with a company. With this data, companies can easily identify pain points and critical moments where employee feedback and action is required to bridge the gaps in the current and desired state.

Refine internal communication

The role of internal communications team is much more than merely disseminating company information. They play an important part in fostering a sense of community, encourage employees to work together for a common goal, and create a cohesive company culture. This promotes employees to become brand advocates for the company.

Provide manager training

Personal relationship plays a major role in fostering a better employee experience. This is especially true in the case of relationships shared by the employee and their superiors. When managers are unclear as to how they can better motivate or communicate with their employees, it causes loss of productivity and eventually ends with the employee finding another job. Manager training should teach delegation, interpersonal skills, time management, goal-setting, and effective ways to give feedback.

Learn more about our employee intelligence solutions

Pharmaceutical manufacturing

IoT in Pharmaceutical Manufacturing: How it will Make a Difference

Internet of things (IoT) has the power to revolutionize pharmaceutical manufacturing in everything ranging from drug discovery to remote patient access and monitoring. Top pharma companies around the globe are increasingly adopting IoT technologies in their manufacturing plants in an effort to achieve optimization and improve process efficiency. Earlier, different data formats for different processes in a pharmaceutical manufacturing plant made data access and interpretation a significant challenge for effective communication. IoT technologies enable standardization within a pharmaceutical manufacturing plant by effectively connecting network, equipment, and systems across the plant. Furthermore, Pharma companies can also use IoT technologies to gain access to real-time data and visibility of operations through the entire manufacturing process. Here’s a detailed look on how IoT will transform pharmaceutical manufacturing.

Despite technological advancements, the pressing matter pharma companies have to address is how to achieve more control over their operations within and outside the facilities to remain competitive, optimize time-to-market, avoid shipment delays, and reduce the waste. Request a free proposal to know we can help overcome this dilemma.

IoT in Pharmaceutical Manufacturing

Pharmaceutical manufacturingIndustrial mechanics and maintenance

Although the use of industrial monitoring devices are already widespread in the pharmaceutical industry, real-time status information is yet to be widely available. Using pharma IoT monitoring sensors companies can instantaneously feed all relevant facility data into a single dashboard, alerting a supervisor in case of any abnormal conditions or urgent maintenance requirements. IoT in pharmaceutical manufacturing will also enable handling critical conditions remotely.

Managing pharma supply chain

Once the drugs leave the manufacturing plant, they travel through different modes of transport and may be subject to varying temperatures and weather conditions. Although in most cases care is undertaken to maintain the packages within the prescribed temperatures, chances of variations during transit cannot be completely ruled out. IoT can be helpful in such situations to provide real-time data to manufacturers every step of the way with improved supply chain visibility. The temperature changes or any damage to the products will be immediately notified to the manufacturers and determine whether the drugs are fit to sell or not.

In the pharmaceutical industry, mistakes have serious consequences, so progress will always be slow and cautious. Get in touch with our experts to learn how our solutions can help companies in the pharmaceutical industry.

Controlling drug manufacturing environment

In pharmaceutical manufacturing, sub-optimal environmental conditions can often prove to be fatal. However, this obstacle can be easily handled with the help of IoT. Pharma IoT establishes transparency in drug production and storage environment by allowing multiple sensors to monitor environmental indicators such as temperature, humidity, radiation, and light in real-time.

Learn more about Infiniti’s solutions for the pharma industry

CPG industry trends

Emerging CPG Industry Trends in Asia

The rapid economic growth in Asia has resulted in increased consumer spending. Over the next decade, we can expect continued economic spend in Asia especially as the middle class widens. The economic, industrial and social reforms have transformed the lifestyle and consumption patterns of consumers in the region.  Various changes in the demographic, economic, and technological landscape in the CPG industry in Asia have also given rise to new CPG industry trends. Lured by the growth prospects, several foreign companies have already begun planning their market entry strategies into the Asian CPG industry. For such companies, it is vital to scrutinize and be watchful of the CPG industry trends and formulate strategies accordingly.

To gain a competitive edge and survive in the fiercely competitive Asian market, foreign companies must take a holistic approach inclusive of critical CPG industry trends and opportunities. Learn how our solutions can help!

CPG industry trends in Asia

CPG industryRise of ecommerce

One of the most disruptive change experienced by CPG companies in Asia is the emergence of ecommerce. Ecommerce, which is well established in the West, is gradually expanding routes to the FMCG sector in Asia’s developing markets. Increased access to the internet and smartphones are fueling are presenting a valuable opportunity for brands to target and deepen their relationships with customers. Over the last year, CPG industry sales online saw a steady growth globally, with China being one of the prime contributors to this growth. This change in consumer shopping preferences will greatly impact the CPG industry in Asia.

Growth in premium goods segment

Luxury goods are becoming highly popular among Asian consumers, fueled by urbanization, higher GDP, and changing lifestyles. Although this was relevant earlier in the fashion industry, the premium segment is becoming one of the most attractive CPG industry trends to watch out for. Demand for premium FMCG goods is growing particularly in regions like China, where the demand for luxury purchases are on the rise even in smaller cities and rural areas.

While the opportunities in Asian’s emerging markets are exciting, the market terrain in these countries is complex and dynamic. Get in touch with our experts to learn how we can help you navigate the challenges and capitalize on the opportunities coming your way.

Changing demographics

The aging population is a growing concern in Asian countries. By the year 2050, a good majority of Asia’s population will comprise of the elderly, soon making it home to the oldest population in the world. Such shifting demographics will imply significant change to the CPG industry trends in the region. The demand for certain goods are likely to increase in the long-run while the demand for some currently well-performing segments are bound to decrease. Such CPG industry trends must be considered for companies planning their market entry strategies into Asia.

Strong home-grown brands

Home-grown brands in Asia enjoy a strong and loyal customer base and will continue to dominate the CPG industry in the region. Some of these brands have even mastered effective customer targeting, flexible distribution, social media marketing, and customer engagement. Local brands understand regional consumers and mostly follow low-cost strategies while focusing on efficiency.

Gain more insights on Infiniti’s solutions for companies in the CPG industry

Recent Posts

smart manufacturing

How to Successfully Navigate Through the Transition to Smart Manufacturing

Manufacturing as we know it is going through a phase of unprecedented transformations. Several initiatives and efforts are in full swing to fundamentally transform the manufacturing sector and associated processes. These initiatives, although known by different names such as industry 4.0 in the west to manufacturing innovation 3.0 in the east, they all stand to have a common pursuit – smart manufacturing. A fully-connected manufacturing business where machines, devices, and people work seamlessly, sharing and acting on information in real-time is vital for manufacturers to pull off a successful changeover to smart manufacturing.

The global push for smart manufacturing is underway, creating a pool of growth opportunities for manufacturers. Smart manufacturing techniques offer several opportunities for companies in the manufacturing industry to improve their operations by providing greater connectivity across the manufacturing facility and the ability to act on production intelligence. However, while some agile manufacturers have embraced smart manufacturing fully and are reaping the benefits already, most still have much work ahead of them. According to experts at Infiniti, less than 15% of manufacturing companies around the globe have successfully implemented a strategy to apply Internet of Things (IoT) technologies to their production processes. Experts at Infiniti explain how companies in the manufacturing sector can go about smartly implementing smart manufacturing in their organizations.

Learn more about how Infiniti’s solutions can help stay updated with the latest manufacturing industry trends and challenges.

Improve quality and productivity

Quality management and kaizen techniques can only provide limited outcomes when the information relied on are limited and not available in real-time. Manufacturers are leveraging embedded equipment intelligence to monitor most product specifications in real-time, either from a customer or regulatory perspective. Apart from this, they’re using this intelligence to address product defects and variations, verify whether quality goals are met, and improve customer satisfaction. Embedded intelligence, when used to improve control and transparency of manufacturing processes creates new opportunities to improve productivity. For instance, operators on the plant floor are analyzing real-time production data to uncover hidden inefficiencies and ensure faster implementation of changes. Managers and logistics professionals are leveraging smart manufacturing technologies to deliver critical data including forecasts and schedules to suppliers, while also monitoring delivery performances at the supply chain level.

Enhancing decision-making process

Manufacturers must consider upgrading their existing technologies in order to attain next-gen productivity. This involves reconciling dissimilar data sources with the current IT systems, extracting the data from smart manufacturing technologies, and then converting that data into actionable insights. Manufacturers that have adhered to these steps and armed themselves with better information are using it to optimize their assets, improve their responsiveness to changing customer demands, refine workflows, and reduce inventory holding.

There is an increasing need for for agile production, operational efficiency, and control in the manufacturing industry. Get in touch with our experts to learn how our solutions can help your organization keep up with the changing market dynamics.

Safeguard against threats

Availability of larger data sets and more connection points can introduce greater risk to manufacturing companies in the forms of internal and external threats. Cyber attackers are looking beyond corporate servers to target operations technologies, while decades-old devices and controls of companies in the manufacturing sector can be more susceptible to breaches through both malicious attacks and unintentional employee actions. No single security technology or methodology will suffice in this complex threat landscape. Instead, manufacturers must use a comprehensive, defense-in-depth approach that establishes security safeguards at different layers to stop threats on multiple fronts. Robust and secure network infrastructure should be built on standard and unmodified Ethernet, which has become the industry preference for security purposes.

Safe, compliant, and reliable operations

An ongoing concern for most manufacturers is to achieving safe, compliant, and reliable operations, and smart manufacturing technologies provide new opportunities for dealing with some of these age-old challenges. Common opportunities provided by smart manufacturing will include replacing obsolete and isolated automation systems that have exceeded their life spans, are difficult to connect and are no longer supported by their manufacturers. However, manufacturers also should define new requirements based on past performance in areas such as employee injuries, machinery downtime, and work stoppages.

Learn more about Infiniti’s solutions for companies in the manufacturing industry

Recent Posts

manufacturing overhead costs

Cost Reduction Strategies in Manufacturing: A Guide to Effectively Tackle Your Manufacturing Overhead costs

manufacturing overhead costs

If the production method is inefficient businesses are less likely to profit from it, irrespective of how impressive their products are. Rather than increasing the price of the product in such situations, it is advisable for manufacturing companies to lower the production costs and the manufacturing overhead costs.

What are manufacturing overhead costs?

Manufacturing overhead is concerned with a company’s manufacturing operations and includes the costs incurred in the manufacturing facilities other than the costs of direct materials and direct labor. Manufacturing overhead costs include all the indirect costs incurred during the production process. Our most successful clients focus on ways to improve costs, profits, and flexibility by reducing manufacturing costs. Manufacturing cost reduction efforts can result in significant product cost savings, manufacturing cost-saving, and life cycle cost saving especially when companies implement the right strategies for the reduction of manufacturing overhead costs.

It is vital for manufacturers to reduce their manufacturing overhead costs without having to compromise on the quality and quantity of the products. Not sure how to achieve this? Request a free proposal from our industry experts to find out.

Cost reduction strategies in manufacturing

Cut down material costs

One of the simplest ways to reduce manufacturing overhead costs in by cutting down the material costs. This can be achieved by tweaking product designs and effectively utilizing all the resources available at hand. It is always beneficial to opt for simpler designs and cost-saving raw materials. The leftover materials including cardboard, metal, and paper can be sent for recycling.

Optimize employee performance

Employees in manufacturing companies must be trained to keep pace with the changing consumer expectations. Training and development activities must be carried out to enhance the skills and productivity of employees in manufacturing facilities. Qualified and skilled employees can help businesses minimize their manufacturing overhead costs that occur due to production inefficiencies.

Get in touch with our experts to know how our advanced solutions for the manufacturing industry can help your business to trim down expenses while improving business efficiency.

Negotiate with suppliers

 Another way of significantly reducing the manufacturing overhead costs is to negotiate with the suppliers to reduce prices. To gain a reasonable price reduction from the suppliers, manufacturers can try offering larger deposits and ensuring that all the bills are settled on time.

Control inventory storage and purchases

The longer stocks are held, the more is the warehousing costs incurred by manufacturers. To avoid this and reduce the resulting manufacturing overhead costs, manufacturers must have a fair idea of when to resupply so that they do not get stuck with excess or obsolete inventory. Furthermore, adequate care must also be given to avoid inventory shortages. Inventory shortages lead to backorders which require manufacturers to add extra shipping costs and even worse, they can lead to unsatisfied consumers.

Learn more about Infiniti’s solutions for the manufacturing industry

Healthcare business intelligence

Roadblocks to Building a flawless Healthcare Business Intelligence strategy

The healthcare sector is moving into an era of hyper-personalization. The escalating growth in the industry is driven by factors including growing populations, the evolution of developing countries, increase in labor costs, and progress in the medical field. Although the quality of care and patient satisfaction largely depends on the relationship between patients and physicians, it is also bound inevitably by technology and advanced capabilities such as healthcare business intelligence. Organizations can leverage healthcare business intelligence to unearth hidden patterns and clues for balancing costs, improving patient care, complying with the accepted standards and norms, and defining strategies for further growth. According to experts at Infiniti Research, one of the major flaws in attempts to enhance business operations in healthcare is the lack of an effective healthcare business intelligence strategy. Let’s explore and understand the key obstacles that are holding back providers from implementing a successful healthcare business intelligence strategy and understand how to overcome them.

Unable to successfully build a healthcare business intelligence strategy? Request a free proposal from our industry experts for valuable insights to enhance your healthcare business intelligence.

Healthcare business intelligence

Access to data

Large healthcare organizations usually have a greater number of EHR systems that are in use simultaneously. While some of these systems are built in-house, others may be hosted through EHR vendors. As every EHR has its own backend database, pulling information from all of them could prove to be a tedious and time consuming process. During such events, healthcare providers can turn to either an EHR conversion company to bring disparate data together and then leave it to the provider’s healthcare business intelligence team or leave the whole process of collecting information to a healthcare business intelligence company. Either way, the process will be handled by savvy businesses that are well-versed with EHR systems on the market, as well as their unique attributes.

High data sensitivity

Healthcare companies not only deal with financial and personal information of their patients’ but also record sensitive patient and clinical data regulated by the strict HIPAA rules. They require extra security while handling. When it comes to effectively managing data, healthcare providers must think through the strategy of managing access to confidential information, distributing roles, and ensure data security across all sources and data warehouses.

While the volume and value of healthcare data are breaking new ground, many payers and providers are struggling to keep up with the capabilities needed to support and deliver the basics. Get in touch with us to learn how you can up your game with a better healthcare business intelligence strategy.

Data quality
Healthcare data is often derived from different sources such as HER, ADT, and ERP. Also, this data is used by different departments in the healthcare organization including radiology, cardiology, pharmacy, and several others. The formats in which data is processed can also vary from videos and pictures to text or other multimedia. When all collected data finally gets processed, healthcare provides find a lot of data in their analytical system hasn’t been stored as structured, codified values. Instead, the healthcare business intelligence team faces tons of unstructured text information. Mapping these values and structuring them across systems to extract valuable insights is a resource-exhausting and time-intensive process.

Learn more about our solutions for the healthcare industry.

retail industry

The Reasons Behind Soaring Private Label Success in the European Retail Industry

In the European retail industry, there is currently an unprecedented prominence of private labels. According to our industry experts, the sales and market share of private label brands have climbed to an all-time high in countries including Belgium, Netherlands, Austria, Denmark, Poland, Sweden, and Norway. Our experts believe that some of the key drivers behind the success of private labels are the expansion of retailing around the world, the emergence of e-commerce, the success of discounters, and changing millennial shopping habits. Furthermore, Private labels allow companies in the retail industry to offer something distinct to their customers. With intensifying competition in the retail industry, private labels have grown to include exclusive products aimed at increasing brand loyalty.

Brands in the retail industry should always be on the lookout for opportunities to better serve their customers. Request a free proposal to know how we can help you capitalize on the right market opportunities.

retail industryThe rise of millennials

Millennials are expected to outnumber baby boomers over the next decade as the generation with the highest discretionary spending power. Millennials are known to be experimental in trying out new products and consequently, private labels are becoming increasingly popular among this group. They demand products that do more, provide greater convenience and offer a variety of lifestyle options and are known to undertake extensive research before buying products. Loyalty to established brands in FMCG cannot be expected from millennials. As a result, almost all major retailers in Europe have developed sophisticated private label programs that give tough competition to established FMCG brands.

Attractive and meaningful packaging

Modern retailers have realized the importance of attractive and meaningful packaging and generally, they have been succeeding in using packaging to get the right message across to shoppers. In the case of private label, it is mostly up to the retailer to set the specification, and there has been some heavy investment in packaging solutions. Apart from increasing the market share, private labels have also undergone stratification with the rise of premium and mid-range offerings besides the traditional bargain ones. Stratification has been in practice over several decades. Today, however, we can see stratification based on factors including organic, natural, gluten-free, and value-based.

Private label is a secret weapon for retailers today. To use it right and maximize its potential, experts at Infiniti can help you as it has done with many companies in the retail industry. Get in touch with us for more insights.

Health-conscious customers

The UK is a market where players in the retail industry use private-labels to reinforce an already-strong store equity position. The major supermarkets’ strategy has been to grow private-label sales. This can particularly be seen in fresh foods, while reducing the range of packaged goods. Retailers are gradually expanding their private-label brands to include healthier options, including for consumers with special dietary needs, and recommends looking for opportunities to remove, reduce or replace undesirable ingredients in their prepared foods. The benefits are also being prominently highlighted on packages and with in-store signage.

Ecommerce boom

Private labels are being disrupted on many various levels due to the rise of ecommerce. Several top ecommerce companies are fragmenting the path to purchase and opening new opportunities for private labels. E-commerce platforms are opening up many doors to expand the sales of private labels.

Learn more about Infiniti’s solutions for companies in the retail industry