Have you ever been through the situation where you’ve got a great product or at least you think you have one but then the retailer rejects selling them at their store? You talk your way through but the meeting ends in minutes with no good news following the meeting and finding out your new product has been rejected by the retailer only weeks or perhaps in some worse case scenario months later. You scratch your head and asks why but the reason given is not really a solid reason or perhaps no reason at all. Why?
For starters, you are not the first and only one getting rejected. Often retailers are getting offered and presented with new products practically every single day by different suppliers like yourself. When it comes to the selection and choice of whether they should sell your item or another one’s it really comes up to a few important factors. So here are some sure-fire and important way to get your product noticed and stand a higher chance of getting it sold on shelf
Time is of essence
Retailers have usually a pretty tight schedule daily. Opening up a meeting slot for your means you have to grab ahold of the opportunity. There may not be another second meeting to discuss about getting your product on the shelf again therefore list down the questions or topics of discussion to make sure you check them off later during the meeting.
So you think you are prepared to answer any questions thrown. Wrong! Retailers don’t ask much and if they do it likely means that they are interested. Otherwise its your responsibility to get them interested. Make sure you prepare a short and concise selling story.
Don’t be a scrooge
Bring enough samples for your retailer. Don’t come into the meeting empty handed and don’t come without samples. Retailers usually want the actual selling product as samples and not mock up ones. This is so they are aware what they are bringing into their stores. Make sure to bring enough samples and not only one piece. Retailers are consumers too. Most would like to try your product before they sell them at their store hence bring at least 3 of each – 1 for presentation, 2 for trial and consumption
Its always good to check with the retailer their expected margin and also cost involved in getting your product sold in their stores. As mentioned in my earlier posts, retailers usually require a certain amount upfront fee which they call as listing fee if your product has successfully been selected to be listed. Also, it would be a good time to ask their expected margin. You should already have a certain margin in mind but its always good to ask as if you are giving a margin that is lower, your product maybe rejected due to this reason