When it comes to brand selection, what strategy do many retailers adopt?

A mixed brand approach is a strategy widely adopted by many retailers because it allows them to cater to a diverse customer base and meet varying consumer needs. This strategy combines different types of brands, including national brands, private labels, and sometimes even luxury brands, to offer a comprehensive selection of products. By curating a product assortment that features both well-known brands and exclusive private label items, retailers can enhance their value proposition, appealing to shoppers who are looking for quality, price competitiveness, and unique offerings.

Utilizing a mixed brand approach also allows retailers to respond to market trends and consumer preferences effectively. Retailers can position themselves in the marketplace by balancing the appeal of established brands, which may draw in customers based on reputation and quality, with the unique appeal of private label products, which can often provide higher margins and foster customer loyalty. This flexibility helps retailers optimize their inventory and marketing strategies to reach a broader audience, resulting in increased customer satisfaction and sales.