Sustainable sourcing to innovate a private brand

Abstract

To encourage private brands to undertake sustainable sourcing, this paper examines widely-held myths, risks, and business opportunities. This paper introduces the Crawl-Walk-Run approach and outlines actionable steps to take along the way. It is most important to establish one's team of private brand stewards and develop an approachable, believable and achievable private brand sustainable sourcing strategy. There are sustainable sourcing opportunities to address in areas such as packaging, supplier diversity, food waste, and supply chain animal welfare. One must develop sustainable sourcing strategies to give one's private brand products the ‘AND’ factor so customers feel they are getting more for their money. One must communicate one's efforts effectively to develop LOHAS (Lifestyle of Health and Sustainability) and millennial loyalty, and dollars to the value equation reflected in one's private brand sustainable sourcing strategy.