Wisner Marketing is conducting a major industry-wide initiative in partnership with the Food Marketing Institute (FMI) to create a category management process and approach that is specific to private label. Recently the Category Management Association announced the launch of Category Management 2.0. The updated version promises to better address changes in shopper marketing, omni-channel retailing, channel-blurring demographics, and consumer buying behavior. In particular, new and sophisticated analytical tools will give retailers much greater ability to manage and manipulate performance within each category.
This Category Management 2.1 initiative with FMI creates a process that will be unique to managing store brands. Store brands have a unique set of dynamics and impact on the retailer’s overall performance that transcends what can be achieved alone with national brands. This project involves many leading store brand manufacturers who are providing funding for the project in addition to many retailers who will be full participants in establishing a definitive approach for the industry. The end result will include new consumer insights, benchmarking tools, and other approaches for maximizing retailer performance. The project will be conducted throughout 2017 and is anticipated to be released in late summer or early fall.