Throughout the world, retail appears in different formats and concepts with diverse strategies. Diversity is a key word in retail as it serves various consumer profiles, needs and generations, in specific economies and cultural environments. Even in neighbouring countries where the same retail formula could potentially be applied, consumers do in fact behave differently. Just as cultural and generational differences have a significant impact on purchase decisions, the economic environment also influences the retail arena and its development.
Daymon has unique global retail expertise and, based on this knowledge, has developed the Retail and Private Brand Maturity Model, a proprietary tool that provides critical understanding of the varied profiles and stages of retail and private brands worldwide, positioning countries through different levels of maturity.
This innovative model was developed to support Daymon’s Retail and Private Brand Strategy Solutions service, by foreseeing the future retail evolution of countries and categories by benchmarking them against the rest of the world, therefore providing a global retail framework to guide decision-making and strategy-building processes.
RETAIL MATURITY MODEL
75 countries were analysed and classified by the model, resulting in the following segmentation:
PRIVATE BRAND AS A STRATEGIC PILLAR
The Private Brand Maturity Model is a key tool that provides a global framework for the private brand development stage as a consequence of the increasingly significant role within the retailer’s business strategy.
Today there are several different stages of maturity for private brand programmes worldwide, joined by a single thread: consistent growth over the years. The model can predict the future evolution of the private brand programme by benchmarking countries and categories. When benchmarking private brand programmes worldwide, the model considers several scenarios. For example, a scenario based on a country where private brand is at an early stage of development, but for cultural reasons can be considered best-in-class in the world. A second scenario might be based on a country that most resembles the macroeconomic conditions of another, in terms of population, cultural and social characteristics, economic conditions, and retail maturity level.