An Introduction to the U.S. Market - An Educational Session with Expert, Tim Bush 10/1/2018
Breaking into the US retail market can be quite a daunting task especially when you are a new supplier. Tim Bush, retail expert and ECRM’s Sales Development Director took on the challenge of breaking down business best practices at ECRM’s European Health, Nutrition and Wellness EPPS and the European Housewares & Outdoor Garden EPPS in Vienna, Austria in late September.
Here are some of the highlights:
- Price products for the long term because it will be challenging to raise prices once you establish an initial cost.
- Build your program costs like returns, etc. into your pricing.
- Price your products across all channels.
- When considering which distributor to go with, understand exactly which retailers that distributor works with at that time. This will help you pick the right distribution partner.
- Is a retailer interested in your product but you are not currently working with a distributor? Ask the retailer to write a letter of commitment to propel a distributor partnership.
- Keep your brand look consistent. From packaging to branding even website, this will help shoppers feel confident in your product and build credibility for your brand.
- The one thing retailers cannot recreate is your company story. Whether you are all natural, donate partial profits to charity or woman owned, your company story is important to retailers and they want to help you tell your story.
- An active social media account for your brand is crucial. Shoppers look to social media for product reviews and suggestions so your brand’s social presence is crucial to your success.
- Develop engaging packaging that captures the shoppers’ attention. They have so many options to choose from that your packing can be the factor that makes your product stand out.
- Have a clear call to action on your packaging. Make sure the shopper understands exactly what your product is and why they need to buy.
Want to learn how you can participate in future ECRM International sessions? Contact Craig Chmeilowicz at CJC@ECRM.MarketGate.com