My work with you is broken down into 3 key phases…
Phase 1: The Foundations
Before you even start to think about approaching retailers, it’s important that you have solid foundations, as these will guide your retail offer and which retailers you align with. Pretty much every decision you make is guided by your foundations. If you skip this step, it could impact the retailer’s impressions of your brand and you might make decisions that are difficult to unravel later. If you already have these sorted, that’s great! If not, I can help you articulate these.
Retail strategy
Brand positioning
Brand story
Brand values - e.g. sustainability, country of origin
Competitor landscape
Market research/social proof
Ideal customer
Unique brand and value proposition
Quality photography and brand assets
Phase 2: Preparing Your Retailer Approach
This phase is really exciting! But also the most work! This is the phase where most businesses flounder, if they haven’t partnered with retailers before. But don’t worry, I’ve got you! We’ll cherry pick from this list and work on what is relevant to your target retailer. It’s so important to tailor your sales pitch to every retailer. This isn’t an exhaustive list, but an example of the types of things we will cover.
And remember, retail buyers/category managers are generally very busy, so the more organised, comprehensive and professional you are, the more effective you will be at gaining store ranging. You need to make it easy for them to reach a “YES”!
Investigating retailer expectations, standards and regulatory requirements
Nailing your pricing - both recommended retail price (RRP) and wholesale
Pricing psychology
Promotional strategy
Terms of trade - yours and theirs
Navigating retailer rebates and one off charges
Retailer gross profit % (GP%) requirements
Retailer terminology, acronyms and jargon
Your product offering
Data analytics
Sales and marketing support to the retailer
Product catalogue
Logistics - shipping, invoicing, stock management, how they place orders
Packaging and retail display requirements
Negotiation tactics and solving objections
How to approach the retailer
And finally…
The sales pitch!
When a retailer accepts your products….time to celebrate! But don’t forget it’s super easy to lose ranging, so once the celebration is over, please remember that phase 3 is ultimately responsible for your brand’s success.
If the retailer declines your products, we’ll gather their feedback and regroup. Perhaps it’s a matter of revisiting your offer and trying again! Or perhaps it’s time for us to move on to another retailer or revisit and revise your retail strategy.
Phase 3: Partnering With The Retailer
This phase is extremely crucial! Now that you have retail ranging, you don’t get to sit back and watch the sales roll in! Retail buyers/category managers have finite shelf space and will be watching your sales performance. Your product needs to keep earning that shelf space and if it doesn’t, you won’t receive another order. Sometimes you will have a really engaged retail buyer who will work with you to drive sales, but sometimes they’re simply too busy and you may not even know that your products have been deleted from their range until it’s happened. Developing trust and loyalty is key to a lasting partnership.
Finalise any terms of trade agreements
Store staff training
Instore implementation
Sales data analysis
How to handle future range reviews
How to manage price increases in the future