5 Reasons Buyers Don’t Buy Your Product at Chain Stores – How to Get Your Product into Stores!
Are you looking to get your product into retail stores? It can be a daunting task, but Karen Waksman, founder of Retail MBA, has five reasons why buyers don’t want your product to change stores.
The first reason a buyer may not be interested in your product is the packaging. It’s important to make sure your packaging looks professional and is up to the standards of the retail store. Waksman says, “These are very easy fixes but packaging may seem obvious but I’ve seen some really amazing products not think through their packaging and literally lose millions and millions of dollars because one change to order could literally mean the difference between you becoming a millionaire or not.”
The second reason a buyer may not be interested in your product is the pricing. Waksman says, “Sometimes there’s certain retailers that just meet a certain price and if you can’t hit that price you cannot work with them.” However, she also says that there are strategies and workarounds to get the price you need.
The third reason a buyer may not be interested in your product is if they don’t see any value add to what they’re currently doing. Waksman says, “Buyers are day jobs they work during the day they go home it’s a little different than an entrepreneur not putting anyone down a lot of you guys are day jobbers and also uh our entrepreneurs on the side the reason I say this is because there’s a lot of paperwork involved in submitting a vendor into their business um and sometimes they don’t want to fill out the paperwork just because what you’re showing them is not that cool compared to what they’re seeing in their stores.”
The fourth reason a buyer may not be interested in your product is if you’re not following up correctly. Waksman says, “If a buyer says I’m interested in your product send me a sample you cannot delay a week or two or five use overnight that thing you get it to that buyer right away why because they don’t have time and plus buyers change jobs all the time in two weeks that buyer could be out of that position it is very common for a chain store buyer to be switched out of their buying position to a different buying position.”
The fifth reason a buyer may not be interested in your product is if they start going through all of the fees and all of the things and you are not interested in some of their terms. Waksman says, “A buyer is usually the one in charge at that point you will be told any fees or any issues in advance before she works with you these are Big established Brands they need to have their products uh store shelves filled they do not have time to play games all of it is told to you in advance do not delay and if you look at all of the stuff that she gives you and it’s not working for you because you’re not going to make a dime and you cannot find a solution then she will not continue to work with you.”
How to Get Your Product into Stores!
Getting your product into retail stores can be a daunting task, but with the right strategies and workarounds, it is possible. Waksman says, “There’s always a way to get a buyer interested in you trust me I’ve seen some of the silliest products getting a chance there’s if you want it bad someone’s there to teach you how.” If you’re looking for more information on how to get your product into retail stores, Waksman offers free webinars on her website, RetailMBA.com
Outline of How to Get Your Product in Stores - 5 Reasons Buyers Don't Buy at Chain Stores!
Securing a spot for your product on the shelves of retail chain stores can seem like an insurmountable challenge. However, understanding the common reasons that buyers may not be interested in your product can help you overcome these obstacles and successfully get your product into stores. Karen Waksman, founder of Retail MBA, has identified five main reasons that may hinder your progress. In this article, we will discuss these reasons and provide actionable solutions to help you successfully navigate the retail landscape.
Reason 1: Inadequate Packaging
A buyer may not be interested in your product if the packaging is not up to par. According to Waksman, many great products have lost millions of dollars because they did not invest in proper packaging. To avoid this pitfall, ensure your packaging looks professional, communicates your brand’s identity, and meets the standards of the retail store.
Solution: Invest in Quality Packaging
Work with a professional packaging designer to create packaging that stands out on the shelf, showcases your product’s unique selling points, and appeals to the target audience. Additionally, ensure your packaging is functional, easy to open, and protects your product during shipping and storage.
Reason 2: Incorrect Pricing
Buyers may not be interested in your product if the pricing does not align with the retailer’s expectations. Waksman points out that some retailers have specific price points, and if you cannot meet those, you may not be able to work with them.
Solution: Research and Adjust Your Pricing Strategy
Thoroughly research the market to understand the price points of similar products. Use this information to develop a competitive pricing strategy that allows for a profit margin while meeting the retailer’s requirements. Be prepared to negotiate and explore alternative pricing strategies, such as volume discounts or promotional offers.
Reason 3: Lack of Value Add
Buyers may not be interested in your product if it does not offer a clear value add compared to the products currently on the store shelves. Waksman explains that buyers have day jobs and may not want to take on the additional paperwork associated with a new vendor if the product does not have a compelling value proposition.
Solution: Develop a Strong Value Proposition
Identify the unique selling points that differentiate your product from the competition. Emphasize these features in your marketing materials and product presentations to buyers. Show the buyer how your product can benefit their store, whether through increased sales, customer satisfaction, or filling a gap in the market.
Reason 4: Poor Follow-up
If a buyer expresses interest in your product but you fail to follow up promptly, they may lose interest. Waksman emphasizes the importance of acting quickly, as buyers often change positions within a company.
Solution: Be Prompt and Persistent in Your Follow-up
When a buyer requests a sample or additional information, send it to them as quickly as possible, using overnight shipping if necessary. Maintain consistent communication with the buyer and be prepared to address any concerns or questions they may have.
Reason 5: Unwillingness to Accept Buyer Terms
Buyers may not be interested in your product if you are unwilling to accept their terms, including fees and other requirements. Waksman explains that established brands need to have their store shelves filled and do not have time for vendors who are unwilling to work within their parameters.
Solution: Be Flexible and Prepared for Negotiation
Understand the fees and terms associated with working with a particular retailer in advance. Be prepared to negotiate and find creative solutions to accommodate the buyer’s requirements while maintaining a profitable business model.