3 Must Have Insights For Your Next Retailer Meeting
I know prepping for retailer presentations can feel daunting, but it doesn't have to be! I'm here to share three key areas to focus on that will help you tell a compelling story and drive real results.
Before we get into the details, always remember what's top of mind for the retailer. Right now, retailers are grappling with shrinking unit growth, tighter margins, and trying to boost basket sizes. Also make sure you’ve done your research to know what's on the shelf as sku rationalization is always top of mind. So, how are you going to help them tackle these key issues?
1. How's the Category Doing?
Always start with the big picture: total category sales and growth trends - both from unit and sales perspective. This sets the stage and gives context to what's working and where there's room for improvement.
How is your brand contributing to the big picture? Is your brand contributing to the category's performance, or is it causing underperformance? Be fully transparent and show the steps you're taking to support positive growth. Key metrics to share are your average unit and sales velocities. If things aren't going as planned, how are you adjusting your strategy to meet the retailer's KPI's?
2. Shopper Behavior Insights
Get into shopper behavior - how often they're buying and their basket size. Check penetration rate: is the category reaching enough customers, or could we attract more? How could your brand help facilitate this goal?
Use the retailer's loyalty data, if you have it, to speak their language and resonate with their business needs. Even if you don't have access to their data, you can always leverage insights from your own shopper base to show how your brand is driving their key consumer groups.
3. Pricing and Promotion
Are you price competitive? What about your promotions - what's driving the biggest impact? Understanding pricing and promotion dynamics is key to maximizing opportunities.
Do you have a key success story that would wow the buyer? Share examples of what's working, and explain how you plan to implement those learnings into your broader promotional strategy. Collaborate with the buyer on programs they're interested in to drive lifts for both your brand and their category.
Finally, it's all about actionable steps. Are you clear on how to boost basket size or drive repeat purchase? What's your promotional plan? Make sure to connect your insights to a strategy that directly addresses the retailer's goals.
These are just a few of the high-level insights to keep in mind, but if you want to go deeper - whether it's fine-tuning your strategy or tackling specific challenges I'd love to help (and save your team some time!).
Got an upcoming project or presentation? Let's chat! Book a free quick consultation or request a proposal and we can dig into the data together to ensure you're set up for success.
Schedule a Consultation - Let's discuss your unique business challenges and how Lauer Insights can help you unlock growth.
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