Bharti Retail has introduced eight Wal-Mart private labels including these two='Great Value' and 'George'- in its supermaket chain Easy day, to attract more consumers, with their international design and packaging and more importantly the value they represent. This is the first time that a Wal-Mart private label has been launched in stores, not owned by the retailer that grosses `$400` billion annually through `7800` stores in `16` countries. Wal-Mart has introduced these private labels in its cas-and-cary wholesale store, it recently launched in partnership with Bharti. This would mean, these private labels can find way to other retail stores as well. Private labels or store brands are those, owned and sold by retailers in their stores typically at a lower prices, because of minimal marketing and advertising expenses. This also helps retailers keep a check on prices of the national brands or those owned by other manufactureres or suppliers, because of cheaper competition.
Bharti Retail gets `15-20%` of sales from private labels and hopes to raise it to `30%` in future. Introduction of more private labels may help Bharti follow its partner Wal-Mart's everyday low price philisophy. On average, Bharti stores offer `10-20%` lower prices on private labels, as against national brands.
What is the motto behind introducing private labels by WalMart ?