Understanding Retail Strategy When Pitching Your New Product

You’ll probably only get one chance to pitch a new product idea to a retailer… so don’t bugger it up!

Do your homework to find out:

  • Who is their target shopper?
  • What are the most common trip (or shopper) missions of their target market (the primary reason the target shopper walks through the door)?
  • Who is their competition (by banner &/or region)?
  • What is their product assortment (categories and ranges)?
  • What are their product placement & merchandising strategies?
  • What is their pricing strategy?
  • What is their promotions strategy?
  • What is their private label or store brand offering (if any)?
  • What is their brand? Does your brand align with their brand?

Desktop research can answer most of your questions but don’t be afraid to ask the Category Manager if you can’t find the information. Asking such questions shows you are thinking strategically about their needs.

And remember the golden rule, never present the same generic pitch to multiple retailers!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s