Throughout Australia, retailers have a limited amount of shelf space to offer suppliers.
This means that it’s exceptionally difficult for smaller businesses to achieve listings into of new products into stores. If you want to make your product stand out, by placing it on the shelves of your favourite local, or international retailers, then you need to know what to do to make sure that you catch their eye first time around. You get one chance at a first impression!
The first thing to remember is that retailers prefer to see a record of accomplishments and a convincing presentation when they’re determining whether something is going to be successful. The following tips will help you to make sure that you present your product in a way that not only captures the attention of your chosen retailers, but enhances your chances of getting a sustainable place on those valuable shelves.
1. Do your Research- Unique selling proposition!
First of all, companies that want to get onto retail shelves need to begin by researching their local stores and preferred retailers and finding out what kind of products they offer. Look for segments where your product would fit perfectly, and try to avoid areas with too many competing products. You cant be a “me too” in this industry. If there are competing products present, then you’ll need to point out the ways in which your product is unique and somehow better. Speak to store customers if you can to get their views on various product preferences, as this will help to strengthen your case.
Engage the advice of experts that know this industry and can assist with market audits and feedback
2. Show that your Product Sells
Many up and coming businesses forget that when they’re trying to get their product onto retailer shelves, they’re asking that retailer to take a huge risk by introducing something that their customers probably haven’t seen before. Investing in a new product requires retailers to incur various costs, including the price of buying, stocking, and displaying your product – so they want to make sure it’s going to sell before they shell out any cash. Consider looking for unique ways to sell your product before taking it to a retail space so you can demonstrate a good sales record.
3. Show Interest in your Product
Besides showing that your product has the capacity to bring in profits, you should also show that people are generally interested in it. For instance, writing a blog about your product and using social media to get extra feedback will help to offer evidence that you have sales potential. The more people you can get interested in what you have to sell, the more likely retailers are to invest in you.
4. Make Sure you Answer Important Questions
When you’re presenting your product, either through a local meeting or international buyers showcase, you’ll need to prepare a detailed presentation that includes answers to all of the questions your potential investors might have. Your presentation will need to cover important facts about the target market for your product, reasons why your product will be appealing to other customers, and what kind of volume you can supply.
5. Start by Selling Locally
If you’re located in Melbourne, Brisbane, or Sydney, then your best bet is to begin selling there! The chances are that you’re already a customer within your local stores, and you might be familiar with the storeowners. Approaching local stores will help you to fine-tune your presentations and product so that you can deal with any underlying problems that might be disrupting your chances for future sales.
6. Make the Most of your Space
In brick and mortar store locations, floor space can be quite expensive. That’s why it’s essential for your packaging and product to take up as little real estate as possible. Make sure that you use small amounts of packaging where possible, while still ensuring that it’s durable enough to protect your food, or whatever else you might be selling. A good tip is to visit the retailer you want to sell with and look at the kind of things they’re already selling. If your packaging would stand out for all of the wrong reasons, then it might be time to change it. Reduced carton qtys are looked upon favourably by retailers, as well as shelf-friendly-packaging (perforated “lips” that can be removed easily and have a great looking shelf display)
Finding your Retail Space
No matter what you’re trying to sell, it can be much easier to break into an industry and start gathering customers and profits if you piggyback off the existing trust and reliability that has been built by another retail organisation. Selling to retailers can be a fantastic solution for small business owners throughout Australia who want to make a name for themselves on the shelves that their customers see every day.
For help becoming a retail expert, contact Steve at 0424 503 837.