The Retail Jungle…where visions become real Part 2

The Retail Jungle…where visions become real

Part 2

(Continued from part 1)

What does the Retail Jungle eat for breakfast?

Keep in mind …

“Retailers are on your side just don’t be late with a shipment, because your profits will slowly disappear with every passing day!”

So you what do we need to do to get our product on the retail shelf. Before we can do that we need to know what the retailers are looking for and we need to know how to present our product. We may get one shot at this so we need to put our best foot forward right from the start. You have got to be ready to manufacture once you approach a retail outlet.

So what do we know about our products’ fit?

Let’s examine what we’ve got …..

As seen on TV

Competition

Exciting new and exclusive

Manufacturing

Market Knowledge

Packaging

Plan-o-grams

POS (Point of sale)

Product category

Product Differentiation

Product line

Promotional Program

Prototypes

Retailer mark-up

Trademarked and copyrighted

USP (Unique selling proposition)

As seen on TV - 3 easy payments of only $19.99!

• Does your product have an entertaining quality to it, does it have the before and after magic. Is it Amazing, New and Improved?
• Selling directly into the home owners living rooms
• Need a TV commercial (Airtime is expensive)
• Create Market confusion and capitalize on your share of the market.
• Ride on the coattails of the big advertisers

As seen on TV

This is one of the most dynamic markets. Any product entering in these markets are in for a ride of their life. Shelf life is extremely short unless it‘s a hit. Most of these TV products have a shelf life of 4 to 6 months. The incredible thing is that there are always other products in the pipeline.

When I worked for an as seen on TV company we would work on 75 products a year and only a small percentage would even make it to the shelf. An even smaller percentage would be hits or winners that would have a longer shelf life of 2, 5 or even 10 years

TV commercials need to be produced, in multiple timelines of 60 seconds, 30 seconds, and 15 second spots. Sometimes in multiple languages, then you need to buy air time. You would be surprised what television can sell. Market confusion is a big part of this niche. Usually there are many reincarnations or copies of a similar product … Weather it’s a car wax, hair removal or a cleaner that does the impossible, and that is the clear message of these products. They all promise to do the impossible some work, some not so well. But people buy because of the entertainment value, they‘ve seen it on TV, it performed like magic and now they are going to live the experience. Some of these products don’t even appear on Television but still have a TV logo with print that reads similar products seen on TV … See if you can catch one of these …If you are preparing to get into this niche be prepared for the ride of your life!

The competition; who is your competition?

• How will you compete
• Who is your biggest competition
• What is that market like
• Are you alone in this market, if so why

Could be a good sign could also be a sign that there is no need for this dud.

• Who is the best player in your market
• How does your price compare
• What outlets are they selling in

The better you understand you competition the better you will know your product and it’s fit in the marketplace.

Exciting new and exclusive: what’s hot what’s not!

• Some retailers classify hot items as exciting new and exclusive. If your product fits within this category they would be willing to introduce it mid-season, as long as it doesn’t interfere with their plan-o-grams.

• A point of purchase merchandiser may make the decision easier. By having your product ready to be displayed and not affecting a plan-o-gram.

Manufacturing – True vision!

• Get your manufacturer on board at the concept stage
• Source out manufacturing once concept approved
• Seek out your competitors manufacturer
• Lead times are typically 14 to 18 weeks for products 4 to 6 weeks for packaging
• Manufacturers need to be flexible
• Some manufacturers will store the goods for you.
• Some will direct ship to your retail outlet

A word about manufacturing, you need to get a manufacturer on board right from the get go! They need to be implicated at the design stage, as they will often figure out many manufacturing parameters to suit or affect and change our design.

Next time part 3 packaging… We want packaging that sells….!