Retailer ready checklist

Retailer ready checklist 1

We know how tough it can be to get a retailer to take notice of challenger brands. And with many buyers telling the industry that categories are at saturation point, you need to create, and utilise, every possible opportunity to gain attention and drive action.

But how can you actually cut-through the noise and reach your retailer?

YF has worked directly with buyers to provide you with a checklist of all the information you need to successfully secure a listing in your desired retailer.

 

Have a clear vision

Let us start with your growth strategy. A buyer will want to invest in a brand that has a clear vision and can articulate how their brand will grow and expand. Be sure to share these goals with the buyer. Where do you see your brand in the next few years? Why does working with the retailer help you? And how might it help the retailer? Sell your story and the story of the potential partnership.

Below is a useful framework to consider when engaging with new retailers:

Customer: How can I help you and your strategy?
Consumer: What is my brand doing that’s special for the consumer?
Category: How will my brand add value to the wider category?
Competitor: How is my brand unique vs other brands in this category?

 

Get clued up

Do some research to find out who the specific buyer is you should reach out to; LinkedIn is a great place to start. It is best to find the buyer who works in your product’s category. Try to find out about range reviews too. How often are the buyers seeking new products on the shelves? How can this knowledge help you to reach out to the retailer at a more suitable period in the year?

 

Have a reason

Patience is a virtue. Get in touch with the buyer when you have a reason to. If you have not heard back and it has been a while, try reaching out with specific news or updates rather than to just generically chase. You are more likely to get a response if you have a clear intention.

 

Collaboration over competition

Try and make contact with other challenger brands who have secured up and running accounts with retailers. Seek their experience. Most brands will be happy to share their dos and don’ts if you ask them nicely. Do as much as you can to ensure you are full of information before reaching out to the retailer.

At YF we foster a Community of challenger food and drink brands who are always sharing knowledge and experience on many topics. If you value collaboration over competition and would like to learn more about how the Community could benefit you, read more here.

 

Be specific in your approach

You have your meeting with a buyer booked in, well done. But remember, you can only introduce your brand once. Think smart about how to tell your story. What makes your brand stand out? How does your product differ from those already on their shelves? How much do you know about the retailer? Why would your brand be a good match? Answer these key questions before considering your initial introduction to your chosen retailer. It might also help unlock things for the brand as a whole.

 

Consider supply chain routes

Even at the initial stage, do your best to forecast how you are going to fulfil the orders. Find out which distributors are connected with the retailer/s you are aiming for. Consider your metrics carefully. This preparation will serve you well in the run up to your initial meeting.

If you have any supply chain questions, we have a dedicated team that can parachute into growing brands to make sure you are working at optimal operational efficiency and effectiveness. Learn more about how we can help here.

How well do you really understand the UK’s biggest retailers?

Want to find out more? We have only just scratched the surface.

Partnering with GS1 UK, YF has worked with teams across the retailers to create YF Retail Insights – providing you with exclusive retailer insights, relevant industry news, and ensuring you feel confidence and validation in your approach.

Sounds like something you need? When you are a member of the YF Community, you can gain access to Retail Insights and much more. 

Learn more here or join the Community today to gain access. 

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