This research provides insights into how communication contributes to improving the co-creation of value in supplier–key retailer relationships and identifies the drivers of communication in an emerging context. By adopting the S-D logic approach and the literature on business-to-business communication, this article aims to gain an in-depth understanding of the role of effective communication in enhancing co-creation between suppliers and large retailers to generate high perceived value. Through a grounded theory approach, interviews with 15 fast-moving consumer goods purchasing managers reveal the importance of the co-creation process through effective communication with suppliers to capture greater value. Co-creation concerns product design, marketing and logistics services, and private labels. The results show the multidimensional nature of communication based on four drivers: needs identification, transparency, sharing of information and closer interactions.
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