When a producer moves to diversify their operations, whether in products or location, how to sell to independent retailers is one of the critical challenges they’ll face. The same applies to entrepreneurs who are just starting.
Independent retailers are not excited to change the products on their shelves. Changing the status quo presents a new workload to handle and the risk of running a loss.
One product has to be sacrificed for the other because retailers have limited space and budget for a particular type of product. Therefore, you must convince a retailer that choosing yours over a familiar product is a smart move.
The following are three key recommendations to sell your goods to an independent retailer.
Start from the Little Wins
Before you can sell to the big retail stores, you’d have a portfolio that already proves the value of what you’re offering. This step suggests that your product has an impressive sales history on shelves of other stores. To achieve this, you most likely have to present evidence of the wins from the smaller stores.
If you don’t have these accomplishments yet, it’s pretty hard selling to major retailers. “Start from small and dream big” is a key principle of Robert Kiyosaki, the author of Rich Dad, Poor Dad, and that makes sense here.
You can’t get your products directly on the shelves of reputable retailers like Walmart and Target if you don’t have a remarkable track record to present.
Present Your Pitch in Person
You have to pitch your product to a retailer, whether independent or not, and experts suggest that you always pitch in person. The reason for this recommendation is that major retailers receive a lot of email pitches, and your emails may end up unopened.
Therefore, it may be best to pitch in person. This requires convincing the retailer to meet you in person. You can set up a meeting between you and them through an email, a phone call, a friend, or through their website. Whatever means you take, you must be outstanding to get their attention.
Pitching in person is a huge opportunity for you. It offers you the chance to convince the retailer and leave a lasting impression. Sometimes, what gives you an advantage over competitors is your personality.
Drive Home the Potential Benefits to the Retailer
Profit optimization is the major objective of every independent retailer. Therefore, you have to convince them that what you’re selling is their best shot at sustainable profits.
To do this, ensure to have done proper research before your pitch. Most established manufacturers sell their products at expensive prices, and the retailer will be glad to get a better deal.
All you need to do is have a solid product and well-calculated margins. They’ll do the calculations themselves, but you’ll have to present what you’ve calculated too. Remember that the retailer wants more profit even if your goods are of the exact quality with what they’re already selling.
Getting their product on the shelves of major retailers is the dream of every entrepreneur, but it’s no mean feat. It takes extensive research, a convincing sales pitch, and meticulousness.