Co-op Sweden in push for private label expansion
Retailer Co-op Sweden has gone live with a Product Lifecycle Management (PLM) portal in a bid, it says, to help increase private label product development and become more competitive within that market.
Trace One, the company that supplied the online portal, says it will also help the retailer meet strict government requirements around product ingredients, safety and ethical sourcing, as well as speeding up the product development process.
“Expanding our own label ranges and improving brand perceptions is a key business objective for us this year,” explains Thomas Säll, CEO at Co-op Sweden. “To match the competition, we want to increase our number of private label products. Not only will this increase our margins but it will also give us the opportunity to innovate with our products and bring something new to the market.
“The Trace One PLM solution was the best and most comprehensive tool available for private label development.”
The tool is able to source the top and most credible suppliers to work with, as it stores all audit details and certifications gained from each supplier for the retailer to access. As many of the suppliers already use the portal with other retailers, the complex collaboration process during product development is simplified. The system also helps the retailer meet government legislation as all details and product specifications are kept on one online database.
“Coop Sweden currently occupies around 21 per cent of the grocery market, so we are delighted to be working with one of the leading retailers in Scandinavia,” adds Amina West, vice-president, Northern Europe at Trace One.
