Waitrose is launching a new innovation programme called BrandsNew, aiming to support emerging brands.
- Over £2 million will be invested in the programme’s first year to facilitate growth and exposure.
- The initiative will involve partnerships with RangeMe and YF (formerly Young Foodies) for strategic support.
- Successful brands will gain access to dedicated support from Waitrose’s innovation team and confirmed retail space.
- The BrandsNew initiative is part of Waitrose’s strategy to offer customers innovative products and maintain competitive pricing.
Waitrose has announced the launch of its BrandsNew innovation programme, aimed at supporting new brands entering the retail space. With a substantial investment of over £2 million in its inaugural year, the initiative underscores Waitrose’s commitment to innovation and customer satisfaction.
Leveraging the expertise of the Branded Innovation team, along with the resources of product discovery platform RangeMe and the innovation consultancy YF, Waitrose seeks to create a conducive environment for emerging brands. This strategic partnership is designed to ease the complexities faced by new brands in establishing themselves in the competitive supermarket landscape.
Charlotte Di Cello, Waitrose’s commercial director, noted the company’s longstanding tradition of backing new brands, highlighting successes such as Innocent and Sipsmith. “Identifying, backing, and growing brilliant new brands is something we’ve done for years,” she stated, expressing enthusiasm for the opportunities the programme will offer.
Participating brands are promised a comprehensive support package. This includes collaboration opportunities with Waitrose’s innovation team and access to essential resources such as confirmed retail space, marketing assistance, and performance data analytics. These elements are crucial for brands aiming to establish a foothold in the market.
The initiative aligns with Waitrose’s broader ‘Food to Feel Good About’ strategy, focusing on delivering high-quality products to consumers. Additionally, the programme is complemented by Waitrose’s ongoing investment in price reductions, including a £10 million investment to lower prices in its premium product lines.
In summary, Waitrose’s BrandsNew programme serves as a strategic vehicle to foster innovation and introduce novel products to its customer base, enhancing the shopping experience.
