10 Ways How to Retail a Product and Get It on Shelves
Have you ever had an amazing product that you just couldn’t seem to get on store shelves? It’s a frustrating feeling, but don’t give up just yet! There are a few things you can do to increase your chances of success. Check out this blog post for 10 tips on how to retail a product successfully.
How to Retail a Product Successfully
There is no one answer to this question as there are many ways to retail a product, depending on the product, the retail environment, and the retailer’s goals. However, some tips on how to retail a product successfully include knowing your target audience, creating an appealing and inviting display, and providing excellent customer service.
Only a select few product-based companies ever achieve the goal of being carried by major retailers.
If you want to sell a product to major retailers, you’ll need to be persistent and able to persuade them why they should carry your products. Here are some things to keep in mind to increase your chances of getting their product on store shelves.
10 Ways To Get Your Product On The Shelf
1. Find Similar Products
Find out which products on the store’s shelves are comparable to yours. How much will the retail outlet make if they switch?
If you don’t sell our product, you’re leaving money on the table! Use sales data from similar stores to see how much you could be making.
2. Know The Needs You Can Fulfill
The best way to get your merchandise into retail stores is to show them why you’re the right fit for their store’s demographics. Explain to them how your brand is the type of product their shoppers are looking for.
Show the retailers how your business can be a profitable venture for them and how it can add value to their brands, too.
3. Provide Your Prospects With Valuable Information
Show that your product is a solution to a problem your audience is already facing. Provide all data in a digestible way.
To make sure that our product is the best match for the audience, we need to gather information on competitors. This will allow us to compare our sales to revenue and gauge our overall success.
If you have a great idea for a project or product, craft a pitch that leaves your audience with no reason to say no. Once you have your pitch ready, ask them to say yes.
4. Show That Your Product is Worthwhile
The best way to convince a retailer to stock your product is to show them evidence that people will buy the product.
Testimonials and statistics are great, but the most persuasive way to close a sale is by conducting your own focus group.
5. Start Local
One of the best ways to get your product on shelves is to start locally. Networking and establishing relationships with storeowners is a great way to get your foot in the door.
Local pride and word of mouth can be extremely effective, so encourage your customers to shop at their favorite store and ask the manager to carry your new product!
6. Market Your Product
Start marketing your products on social media before putting them on store shelves. Creating a good hashtag is essential to increasing your reach online.
Once you have created a buzz around your product, it will be easier to convince retailers to stock your product on their shelves.
7. Show Your Value Proposition and Profitability
What you need to show retailers is your value proposition and how profitable it is. If you have a great product but a tiny profit margin, you’ll have a tough time getting into stores. Make sure your value proposition is clear and profitable to increase your chances of success.
If you want your retail product to be put on store shelves, you need to provide your retailer with a detailed plan that outlines how the product will be profitable for them.
8. Offer a Money-Back Guarantee
Offer a money-back guarantee and great customer service online. This will give the retailer the chance to sell the product without having to worry as much about customers and any unknown issues.
By offering your customers a money-back guarantee, you give them peace of mind and show them that your store is trustworthy.
9. Tell Retailers How Your Service Will Benefit Them
When contacting large retailers, it is important to mention how your products will benefit them. Rather than simply presenting your pitch and asking for a discount, it is beneficial to present any market research you have gathered beforehand. This shows them that you are knowledgeable of their goals and demonstrates that you are offering them something valuable.
If you can show that your product is in demand among their target audience, you’ll be more likely to reach a favorable deal.
10. Show Your Capability To Handle Big Orders
If you’re looking to sell your products in a retail setting, you’ll need to make sure that you’re capable of meeting their requirements for product placement.
When selling to retailers, be sure to mention your ability to provide large quantities of products. Emphasize your capacity to find alternative materials if needed. This will demonstrate to the buyer that you can supply the products they need.
You want to show that you can supply as many different products and services as you need.
Benefits of Getting Your Products in Retail Stores
Retail stores are an excellent place to sell your products. Most business owners prefer to sell their products in retail outlets because of the following benefits:
Having your products in authorized retail locations is one of the best ways for small business owners to increase revenue. Retailers already have an established relationship with their customers and know how to market similar items, which can increase the visibility of your brand and your sales.
Sell to a Wider Audience
Selling products through retail stores is a great way to expand your product’s geographic range. You can sell your products to almost any location, depending on the scope of retailers where you place your merchandise. This is a fantastic way to get your items out there and boost your revenue.
You can expand to other markets without having to open new physical storefronts. This can help your company to grow without needing to invest a lot of money.
Opportunities for Business Growth
Businesses that sell products in retail stores can enjoy many benefits, including success and growth.
If you’re an entrepreneur who has successfully sold your products in smaller retail stores, you can quickly get documentation for sales proof. This will help you immensely when it comes to seeking out new opportunities for business growth.
It is easier to seek funding from lenders if you have contracts with retail stores to sell your products.
Retailers and grocery stores can advise on how to boost sales, including how to improve packaging or increase brand awareness.
Lower Operating Costs
One of the benefits of having your products in retail locations is that it reduces your cost of operations. Since customers get the product straight from the retailer, you do not have to worry about incurring any shipping costs. This is an excellent way to increase your profit margins!
You don’t have to spend a lot of money on marketing campaigns to get exposure for your products.
Dealing with a retail location can be easier than managing multiple individual customers.
If a customer needs a product delivered quickly, it is more convenient for the entrepreneur to have their products in a retail store where they are easily accessible. This way, the entrepreneur can focus on fulfilling the customer’s order without having to worry about coordinating multiple deliveries.
How to Pitch a Product to a Retail Store
Unless you’ve been selling products for years, knowing how to pitch a product to a retail store can seem a little intimidating. And, in all honesty, it’s something you’ll probably learn over time.
If you want to be successful in selling your product to a store, you need to know how to pitch it correctly. This can be difficult if you don’t have experience with face-to-face sales, but following these tips will give you the best chance at success.
If you already know how to sell, this will serve as a refresher and help you formulate your plan.
1. Get in The Door
When approaching a retail location, you should first make an appointment to visit them, rather than going in and trying to sell them on the spot.
Be as specific as possible with times and dates. This will eliminate any back-and-forth and save you both some time. Even if you’re not actually in town, let them know you’re nearby. This will create a sense of urgency and encourage them to meet with you sooner.
2. Give a Demo
Giving a demo of your product is a great way to demonstrate its value.
First, customize your demonstration to the customer. Every customer is different so it’s important to do your research and find out what would appeal to them specifically.
Second, tell a story. People relate better if you involve the product in a story rather than just giving a straightforward demo.
Third, rehearse. Good sales reps prepare and rehearse the delivery multiple times so that they know exactly what they’re going to say and do.
Fourth, test everything beforehand. If your product has the possibility of breaking down, make sure you test it before you walk in the door.
And finally, close the deal. Asking for the sale is something a lot of people forget to do, but the best time to ask is right after the demo when they’re already interested in the product.
3. Leave a Product Sell Sheet
A product sell sheet is a one-page document that outlines the key benefits of a product and provides ordering information. This tool is used to help customers understand what a product offers and how to purchase it.
Keep your sales sheets focused on the benefits of your products. This will make it easier for your customers to see how using your product or service will improve their life.
For example, if you have a foot care product that eliminates unsightly and painful corns, your heading could read:
“Eliminate painful and ugly corns in 3 days.”
Instead of using long, boring chunks of text, try breaking up your copy with bullets, short sentences, and callouts.
And don’t forget your call to action. Now is your chance to ask for the business – don’t be afraid.
If you want to close more sales, always ask for a commitment. If you’re not asking people to buy, you’re leaving money on the table. Use your product selling sheets as a way to ask for the sale and close more deals.
Make your CTA stand out by making it bold, large, and eye-catching. Use a different font, make it a different color, or do whatever you can to make it pop.
What If You Can’t Secure a Meeting?
Demonstrating a physical product is a wise move, especially if the product is not easily demonstrated remotely.
Although it is possible to close a sale with just samples and literature, it is always more effective to do so in person.
Products like software are much easier to demonstrate remotely, and it’s worth considering if your customers are in different parts of the world. This can be a great way to connect with them without having to travel.
If for whatever reason, you find yourself with too many meetings with retail buyers, you could consider reducing the number of these meetings. You could hire someone else whose job it would be to meet with these retailers and do all the talking.
Now you know how to retail a product and get your merchandise on store shelves. By following these tips, you’ll be well on your way to getting your products in front of potential customers and increasing sales.