Waitrose: Essential Waitrose
Waitrose had been enjoying strong growth until the recession arrived in 2008: as a premium retailer, its immediate prospects looked bleak. However, through the introduction of 1,200 disparate own label products under a new brand, named ‘Essential Waitrose’, the retailer ended 2009 as the UK’s fastest growing supermarket. Range sales rose by more than 5% and soon amounted to 16% of the retailer’s total revenue. It is estimated the launch of this brand contributed £121m of incremental growth in 2009 alone, pointing to an impressive ROMI of c.16.8:1. Waitrose successfully maintained wavering and loyalist customers and simultaneously strengthened the parent brand’s image, sales and profits.