Whether you’ve just heard of them or have filled your shopping trolley with them, private-label brands like Kirkland Signature (Costco), Great Value (Walmart), and Good & Gather (Target) are an undeniable part of our market (and our lives).
And for this bulk importer and wholesale supplier, private labels has always equaled new mindsets and new market possibilities. The Source86′ bulk product list showcases our commitment to exceeding these expectations.
Just last week, CVS Health announced that they have joined the ranks of private label providers with its new Well Market line of health snacks and food products. Well-Market products will adorn the shelves of all CVS Pharmacy stores and offer customers a healthier alternative to the snacks that already fill their shopping baskets.
“Our goal at CVS Health is to be the most consumer-centric healthcare solutions company. Through this repositioning and expansion of our food and beverage portfolio, we are doing more by providing new nutritious options our customers crave,” says Musab Balbale, Chief Merchandising Officer of CVS Health. “From the easy-to-understand packaging to the delicious snacks themselves, our customers can feel great about consuming Well Market products as part of their individual wellness goals.”
From popcorn to cookies to pita chips, CVS Health may be launching Well Market with a “limited line”, but the 40 snacks, beverages, and grocery products it’s bringing to its stores are more than enough to leave us with our jaws on the floor.
But it’s not just the variety, it’s the boldness they bring to private-label products that have us in awe.
Five things Well Market is doing right
Here are some of the most important takeaways every private label brand can take note of from the Well Market press release to ensure their success:
Take packaging seriously
Make sure your manufacturer uses easy-to-understand packaging and labeling so customers can instantly recognize the difference and value of your product.
Build from existing experiences
Target a product segment that customers already crave, and provide a healthier or superior alternative. And when you cater to specific dietary needs and preferences like vegan, gluten-free, and keto, identify the niche needs of your existing buyers and see how you can improve their purchases.
A little personalization goes a long way
Don’t be afraid to personalize products according to the niche tastes and preferences of your customer base and the greater market. Investing in niche specialization helps cement long-term loyalty.
Be adventurous with possibilities
Be brave when it comes to exploring new products and partnering with new manufacturers. Well Market’s flavor-infused sprouted almonds (including Salt & Vinegar, Zesty Dill Pickle, and Maple Cinnamon) are infused with flavor during the sprouting period. Quirky new product developments like these are what keep customers curious and intrigued.
Take taste to the next level
Explore flavors boldly. Flavors like Jalapeno Roasted In-Shell Pistachios, Curry Trail Mix, and Everything Bagel Gluten-Free Pita Chips are probably the last flavors you’d think of when asked “What’s your favorite flavor snack?” But you can bet these are the flavors that will find their fans and become bestsellers.
Doing private label with oomph
“Well Market offers exciting new options for consumers to explore their taste preferences and nutritional needs. Crave-worthy snacks can be part of a balanced lifestyle, and that’s what we help our customers achieve at CVS Pharmacy,” said Mike Wier, Vice President, Store Brands, CVS Health.
Putting your mind where your customer is at is what CVS Health is doing right. And when you’re launching or improving your private label brand, that’s the secret to success.
But it’s also about going beyond what customers think they need and intuiting what they don’t even know they need yet.
And that’s exactly what Source86 helps you achieve. We go beyond the realm of a bulk importer and wholesale supplier, exploring your market and audience to find out how you can explore new possibilities, connecting the dots between your industry and the bulk ingredient market.
Get in touch with us and let’s talk about how big an impact your private label line could have in the lives of your customers.
