What is the First Step in Selling into Big Box Retailers? Click Here to Learn More!
Selling your product to a retail chain can be a daunting task, but with the right plan in place, it can be a successful venture. In this short video training, we will discuss the first step you need to take when selling to a retail chain and how to create a plan that will convert.
The Importance of Having a Plan
Before diving into the action steps of selling to a retail chain, it is crucial to have a well-thought-out plan. Many people make the mistake of reaching out to retail chains without a clear strategy, resulting in little to no response from buyers. In fact, 98% of people who attempt to sell to retail chains are ignored or dismissed.
The reason for this lack of response is often because these individuals fail to address the buyer’s needs and preferences. Buyers are busy individuals with demanding jobs, and they don’t have the time or patience to entertain poorly planned pitches. They are looking for products that will sell and contribute to their bottom line. In order to create a plan that will catch the attention of retail chain buyers, it is important to understand their business and what they are looking for. This requires thorough research and preparation.
Researching the Retail Chain
One effective way to prepare your plan is to visit the stores of the retail chain you are targeting. Take the time to observe the products they currently carry and identify any gaps or opportunities where your product could fit in. If your product is similar to what is already being sold in the store, it will be difficult for a buyer to see the value in adding your product to their assortment.
For example, let’s say you have a makeup product that is similar to what is already available in the store. To make your product stand out, you need to find a unique angle or feature that sets it apart. In one case, a client had a makeup product that was nothing special, but she realized that it was particularly good for people who sweat. This unique selling point became the focus of her pitch to retail chains. By targeting different demographics, such as active sports enthusiasts or older women, she was able to repackage her product and make it more appealing to buyers.
Finding Your Angle
If your product is in a competitive market or lacks a unique selling point, it is important to do some recon work to find your angle. Look for opportunities where your product can fill a gap or offer something different from what is currently available. For example, a client who was selling moisturizers for the face and body realized that no one was selling a neck cream to smooth out wrinkles. This became the focus of his pitch, and he was able to get his product into major retailers by showcasing the uniqueness of his neck cream.
The Power of Innovation and Uniqueness
In the world of retail, innovation and uniqueness are highly valued. Buyers are constantly looking for products that will capture the attention of consumers and drive sales. By identifying what makes your product different and highlighting its unique features, you can increase your chances of getting noticed by retail chain buyers.
Creating a plan that showcases the innovation and uniqueness of your product is key. This involves doing thorough research on the retail chain you are targeting, identifying gaps in their assortment, and finding ways to position your product as a solution to those gaps. By presenting your product in a way that is different from what is currently available, you can make it more appealing to buyers.
In conclusion, the first step in selling to a retail chain is to have a well-thought-out plan. This plan should focus on showcasing the innovation and uniqueness of your product, as well as addressing the needs and preferences of retail chain buyers. By doing thorough research and preparation, you can increase your chances of getting noticed and ultimately getting your product into retail stores.
If you are interested in receiving support and guidance in selling your product to retail chains, Retail MBA offers coaching and training programs to help you navigate the process. Whether it’s through their master classes, live events, or done-for-you services, they can provide the expertise and resources you need to succeed in the retail industry.
Remember, the key to selling to retail chains is to have a plan that stands out and addresses the needs of buyers. With the right strategy in place, you can turn your product into a retail success story.
Here are a few other blog posts you might be interested in:
Step-by-step training on how to sell to major retailers
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In this training, I will discuss some of the things to think about when approaching a retailer to sell your products and become a vendor. Hope it helps! 🙂
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And…if you like this training, you will love these new short training sessions as well! Click on the links provided to watch and grow your consumer product business TODAY!