Should brands be worried about Walgreen’s new store brand, Nice!?   Last week, the nation’s largest drugstore chain launched its store brand, Nice! and reaffirmed its re-energized private-label strategy.  More than 400 items, mostly grocery and paper products, will be sold at all 7,742 Walgreens and Duane Reade drugstores nationwide 2012.  Costco and Macy’s recently reinvigorated its house brands, too .   Private label products help retailers generate higher profit margins and instill brand loyalty.   What can brands do?   Reinforce perceived product quality and key benefits and don’t compete with private label by dropping prices.    – Rich