For many industries, selling products online through e-commerce is the focal point of the marketing and sales strategy. For some companies, it is the right focus and strategy. For many other brands, the goal and objective is also to get products on the shelf with retailers.
Retailers that carry your product can quickly execrate sales and brand profits. Often, the larger retailers will order much higher volumes and this quickly boosts sales for a brand. Larger retailers order through distributors and brands will have to pursue distributors as well to retail their products.
Regardless of online sales, in most cases it is good to also distribute products the traditional way, through brick and mortar retailers. To get products on the shelf with retailers that are local, statewide, and national here are 5 tips to increase chances at success.
5 Tips To Get Products On The Shelf With Retailers
1. Have the required materials for the retailers.
This is a big one. Nothing annoys category buyers of retailers than unprepared manufacturers and brands. Companies that want to retail their products must have the required materials for the retailers. They should be properly done for best results. Such material is for example, sell sheets, pricing lists with the proper margins, and products for review and testing.
2. Have products ready for retailers to review.
For a buyer to consider a new product or product line, they will want to see the products and test them for review. Companies that want to land shelf space with retailers must have the products ready for review. Buyers will expect to get the products intended for the store for review. They pay extra attention to the quality of the product, packaging design, and product types in comparison to what they already sell.
3. Have the right margins for the retailers.
This may seem obvious but so many companies and brands make mistakes here. The profit margins have to be right for everyone, especially the retailer who will expect certain margins. The standard price markup tends to be around 2.5, which means the retailer typically sells the products they carry for more than double of their cost, but less than triple.
4. Visit the store in person proper to the meeting.
Know the retailer first before pitching them in a meeting on a new product or product line. Retailers want to know that you have done your research. In other words, for best chances at landing a deal with a retailer, know the retailer well. Learn about competitive products, what the retailer is about culture wise, locations and their target audience.
5. Have a strong online presence for retailing.
Retail buyers want to make sure the products are of certain quality. They are also interested to see that the brand has a strong online presence. Retailers want to make sure that brands have marketing and advertising campaigns and proper online presence to stimulate brand awareness and sales.