Rising inflation has fueled global demand for private labels, as increasingly price-conscious consumers seek affordable, quality products. In response, more retailers are developing exclusive private label products to drive sales and loyalty in the competitive consumer packaged goods (CPG) space.
To grow their private brands, retailers are turning to product lifecycle management (PLM) systems, as they find their old tools are no longer adequate to keep up with today’s consumer and market trends. PLM software helps retailers and manufacturers manage and accelerate product development. It accommodates the entire product lifecycle, from initial ideation to market launch, through effective collaboration and resource monitoring.
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