Entrepreneurs

Council Post: Want To Get Your Product In Retail Stores? Take These 10 Essential Steps

Many product-based companies want to be carried by major retailers, but with so much competition, only a select few ever achieve that goal. Landing your product in a major retail store will take a lot of time and persuasion, and you’ll have to be able to demonstrate why your product is worth a retailer’s shelf space. 

To help entrepreneurs sell their products to a big retail store, 10 Young Entrepreneur Council members share their best advice.

1. Research Similar Products

Research the products currently on the retail store’s shelf that your product will replace. What are the sales lift that the store will get if they switch to your product? Use your product’s sales data from similar stores to show the money they’re leaving on the table if they don’t sell your product. Charts and graphs work wonders to communicate the opportunity cost of not carrying your product. – Jonathan PrichardMattressInsider.com

2. Understand the Needs You Can Fulfill

The best angle to take for earning retail space is to make a case as to what needs you can fill for the store. Look into the significant demographics for that store and make a case as to why you are the type of product they need. If you have success outside of their immediate area, let them see that this is a profitable enterprise that they can become a part of and add to their brand. – Salvador OrdoricaThe Spanish Group LLC

3. Offer Data In An Easily Digestible Format

Demonstrate that your products are already a need of the audience. Offer all data in an easily digestible format. Gather competitor data employing consumer research methods to measure impact and model revenue. Build out the plan for them and the projected benefit to the store. Craft a pitch that leaves them no reason to say no, then ask them to say yes. – Matthew CapalaAlphametic

4. Provide Evidence Shoppers Will Want Your Product

The best way to convince retailers to stock your product is to provide hard evidence that shoppers will want to buy it. Sharing testimonials and statistics from previous sales can help, but focus groups are the most convincing way to accomplish this in my opinion. – Bryce WelkerTesting.org

5. Start Small

One of the best ways to get your product on shelves is to start small. Look to your local stores and start networking. Get the word out about your product within your community. You’d be surprised how effective local pride can be when you share your goals with consumers and they genuinely love your product. Encourage them to go into their local stores and ask for it. – Blair ThomaseMerchantBroker

6. Sell Products Online First

Before putting your product up on the retailer’s shelves, I believe it’s a good idea to sell some of them online. Start a social media campaign around your product to create hype. Create a good hashtag to increase your reach. Once it gains a little exposure, it can be easier for you to convince the retailer. – Josh KohlbachWholesale Suite

7. Cover Your Value Proposition And Profitability

The first thing you have to show retailers is how much they stand to make. You could have the best product on planet Earth but if there’s a tiny profit margin, you’re going to have a tough time getting into stores. I suggest creating a plan that covers your value proposition and profitability if you want to convince retail stores to put your product on their shelves. – Chris ChristoffMonsterInsights

8. Offer A Money-Back Guarantee

Have a money-back guarantee and offer good customer service online. Give them the opportunity to sell it without the big dilemma of taking care of the customers and the unknown. By taking care of the customers, the retail store will be happy to get all the help you can offer. With the added benefits of a money-back guarantee, retail store owners won’t fear the unknown and trust your assurance more. – Daisy JingBanish

9. Explain How Your Product Will Help The Retailer

The best way to reach out to big retail stores is to let them know how carrying your product will help them. Instead of strictly talking about your product and asking for a deal, mention their target audience and research you’ve obtained before your meeting. If you can prove that their customers want what you’re offering, it’s easier to reach a deal. – John TurnerSeedProd LLC

10. Highlight Your Capacity To Fulfill Large Volume Orders

Getting your product onto a retail store shelf can help your business fast. However, you need to that you have the capacity to meet their requirements. When pitching to such stores, highlight your capacity to fulfill large volume orders. Clearly describe your ability to source materials and find alternatives if needed. You want to show that you can provide as many products as necessary. – Syed BalkhiWPBeginner

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