Breaking into the competitive FMCG market and getting your product listed with wholesalers and retailers requires a well-thought-out strategy and careful planning. What are the key points you need to explore and consider to successfully navigate this process and secure valuable partnerships with FMCG distributors? Let look at the five key points to consider.
"Navigating the FMCG market can be tough, but with a strategic approach to pricing and strong industry relationships, you can secure valuable partnerships and achieve long-term success." Alan Crawford, MD of Crawford Consultancy
Is Your Pricing and Commercial Offering Sustainable?
One of the crucial factors that FMCG wholesalers and retailers consider when deciding to list a product is its pricing and commercial offering. Ensure that your pricing strategy is competitive yet sustainable for both you and the retailer. Consider factors such as:
Production costs
Margins
Market demand
RRP - (recommended retail price)
Set a price that is attractive to wholesalers and retailers while ensuring profitability for your business.
What Is Your Route to Market?
Decide on the most suitable route to market for your product. Will you go direct to store, work with warehouses, or opt for third-party distribution? Each option has its pros and cons, so choose the one that aligns best with your business goals, resources, and distribution capabilities. Evaluate the costs, efficiency, and reach of each distribution channel before making a decision.
How Will You Sell Your Product on the Ground?
Having a solid sales and marketing strategy is essential for successfully selling your product through FMCG wholesalers and retailers.
Consider investing in point-of-sale materials, promotions, and advertising to drive visibility and sales.
Train your sales team to effectively communicate the value proposition of your product.
Build strong relationships with retailers to secure prominent shelf space and placements.
What Are the Key Relationships That Will Lead You to Success
Building strong relationships with key stakeholders in the FMCG industry is crucial for getting your product listed and achieving success. Network with industry influencers, attend trade shows and conferences, and connect with potential partners to expand your reach and visibility. Collaborate with distributors, retailers, and other players in the supply chain to create win-win partnerships that benefit all parties involved.
Are You Prepared for Stakeholder Asks
Anticipate and prepare for the various asks that stakeholders may have when considering listing your product. Be ready to provide samples, marketing support, promotional materials, and sales data to demonstrate the potential of your product. Develop a thorough understanding of the needs and expectations of wholesalers and retailers to address their concerns and requirements effectively.
"Understanding your route to market and being prepared for stakeholder demands are crucial steps in getting your product listed with wholesalers and retailers. It's about creating a win-win scenario for everyone involved." Alan Crawford, MD of Crawford Consultancy
In conclusion, getting your product listed with FMCG wholesalers and retailers requires careful planning, strategic thinking, and a proactive approach to building relationships and showcasing the value of your product. By considering pricing sustainability, route to market options, sales strategies, key relationships, and stakeholder asks, you can increase your chances of successfully entering the FMCG market and achieving growth and success for your brand.
Breaking into the competitive FMCG market and getting your product listed with wholesalers and retailers requires a well-thought-out strategy and careful planning. Explore our business consulting services to help you navigate this process."
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