Making range reviews work for you
You develop the perfect product and you know the key retailer that is perfect to stock it. You’ve taken time to understand their strategy, their category focus, their current range and where your product could fit in their future range.
You have pulled together all this information, validated and backed up with market data. You have researched who the buyer is and how to contact them, and you fire off the presentation - and maybe some samples of your product - to ensure they are suitably impressed by your innovation.
And nothing. You drop another email. Maybe a call. Maybe another set of samples, just in case the first one didn’t make it through the mail room. One more call – frustratingly the voicemail box is full, so there is no way to leave a message. One more email to confirm you tried to call but couldn’t leave a message.
This is likely to sound broadly familiar to anyone who has a brand or products that is fairly new to the market. And there are likely to be two major things driving the problem: Firstly, buyer time. They simply don’t have the time to work through every contact they receive to work out if it is relevant to them. And timing. Even if they do notice the product and even if they think it might be of interest to them, if it isn’t at the time of year they are reviewing that category there is a good chance they aren’t going to act on it.
Category reviews are key for many larger retailers. Depending on the specific category and retailer, once or more a year they are going to review their category, ensure it is offering the optimum range of products for their customers and is maximising the value they can get from that category. These are key strategic reviews, and your product is many times more likely to be properly considered at this time of year than if received at any other time.
Every retailer has their own way of running reviews, but there are some features that are common across most of them. They will be conducted strategically, looking to take advantage of (or lead) category trends and areas of growth. They will look at their product range as a whole, looking for gaps in their assortment. And they will take into account key commercials and product characteristics while making their selections.
The problem is that the buyers don’t tend to have the time to share with suppliers when these reviews are, so it can be difficult to know when these focus periods are. Product Guru can assist; both by having your products in place for buyers when they come to this time, and for premium suppliers having access to category review dates added by buyers and retailers.
So, rather than taking a stab in the dark in the hope of getting the buyer’s attention, join our community and ensure your products are on your target buyers radar during their next review.
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