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KNOW YOUR DNA Every retailer has its own unique genetic code, and the first step is to understand, decipher and disseminate it There are almost 8 billion people on earth, but our genetic code or DNA as it is called, is 99.9% the same from one human being to the next. Differences in the .1% hold all the important clues to what makes us unique. Think of it this way, most of what defines us as a species is foundationally the same in our genes, but it is this small little sliver of “differentiation” in our DNA that defines us, that separates us, that crystallizes who we are. Similar to people, retailers also have their own DNA that represents the “heart and soul” of who they are, and peels one retailer apart from another. There are the common structural elements like service, freshness, price, variety/assortment within a retailer, but how you position yourself within each, along with the personality you wrap around your approach that makes all the difference. It is true, some retailers have a more palpable, readily identifiable DNA than others, who might be a little more “vanilla”, but there is a real importance in studying and rooting out what the retailer’s DNA really is (whether you are working inside a retailer or you are on the supplier side). This is because your private brand program should flow from that understanding. Your own brand program should be an amplification of your retail DNA. It should be a further expression of it and in sync with the retailer’s genetic code. Though not every retailer and private brand program lives up to this principle.
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GLOBAL RETAIL BRANDS / MAY 2022
Target’s DNA Sets Everything In Motion One retailer whose DNA works in lock step with their private brand portfolio is Target, and they are a good study in this retailer-to-own brand harmony. First, look at the hallmarks of their retailer DNA and brand values: Key words that you would use to capture their DNA, approach and attitude are: “Youthful” “Modern” “Fashion-Forward” “Optimistic” “Vibrant” “Fresh”
These are words that embody who they are and set the tone for their marketing, brand naming and overall private brand portfolio architecture. This DNA permeates their private brand program. One of their most recent brand launches in Frozen Novelties and Bakery indulgences, Favorite Day, typifies their DNA, it expands it and amplifies it. You see this connectedness of DNA expression-to-Private Brands in almost everything they do, from fashion to food to housewares. Before you go down on a vigorous path of Private Brand development, or as a supplier, pitch a new item to a retailer that you think makes intuitive sense, remember that it all starts with a retailer’s DNA first. Know it.
