Private labeling has developed into one of today's most lucrative business practices. The advantages of a line of privately labeled products has driven the strategy's popularity in recent years, creating new and exciting sales opportunities for manufacturers of all sizes.
Consumers are increasingly turning away from national brands in favor of supporting local products or organizations whose vision they identify with, and business owners can capitalize on this trend by offering their own private label product versions to other retailers, while in many cases incorporating the retailers branding and logo. Best of all, printing your own private labels is now more cost-efficient than ever with the large selection of color label printers sold by Durafast Label Company. Now, manufacturers can expand into new areas and reach new audiences at minimal cost.
What is a private label?
Products offered under a private label are manufactured by a producer for another organization to offer under their own brand. This allows for products to take on a new identity which benefits both retailers and manufacturers. Private label products are also commonly found at a lower price point that that of larger, national brands, although there has been a recent trend of "premium" private label lines designed to showcase an organization's ability to compete with recognized brands. The use of private labels has been proven an effective strategy for products such as foods, beverages, wine, coffee, tea, essential oils, candles, cosmetics, vitamins and supplements.
The decision to pursue private label branding allows for manufacturers' products to strike new business relationships, which helps their product reach new potential customers. This strategy can result in significant financial returns, with little investment or risk on the part of the manufacturer.
Today's shoppers are looking for ways to get more for their dollar, without sacrificing quality or experience. By launching a private label for your organization, you can meet these needs while delivering a more personable brand experience than the national manufacturers. Digital color label printers for DuraFast also lets organizations avoid ordering expensive, large runs of labels, and allows for the printing of exactly the amount required, significantly reducing waste.
With the many different versions of digital color label printers sold by DuraFast, manufacturers can experiment with private label designs and print samples to entice potential customers. Once an order has been confirmed, it is possible to print the exact number of labels required, reducing waste. This removes reliance on third-party label suppliers, who require large purchase orders that must be stored until needed, where they can be lost or damaged.
The packaging and labels can be tailored to meet your particular needs, including product name, description, company's logo and contact information. By investing in an in-house label printing solution, your organization can experiment with different labeling strategies to determine which meet the strongest consumer response, without the long waits and headaches involved in ordering from third-party vendors.
Private labeling also helps give specialty businesses the competitive edge. Wineries can print private labels with the bridge and grooms name, create limited-edition labels for charities or fundraisers, or even produce corporate labels for branding water bottles and other collateral for corporate give-aways.
An in-house label printing solution can also allow your organization to complete custom contracts, such as for special events, charities or weddings. For example, a wine or beverage producer could quickly and affordably print custom labels for a wedding party, a popular service that can open your organization up to new markets.
Differentiate from Competitors
By being able to separate your organization's product from the national brands, you can appeal to consumer desire for quality as well as price. The perception of private labels has moved on from simply a low-cost alternative to become a preferred option for the majority of shoppers. And by starting your own private label line, you are in control of where the product is sold, and can set a price point that appeals to your target market.
Our line of Primera color label printers are ideal to begin realizing the advantages of offering private labels. The Primera LX500, LX910 and LX2000 all offer cost-effective label printing solutions that can have you start realizing the benefits of private labels as early as possible.
Don't wait and let competitors beat your new private label line to market. By investing in a product label printing solution from DuraFast today, you can begin increasing your brands reach and profitability through exploring your private label line!