What Retail Buyers Want - Part 3
Each quarter TRKR talk to retail category buyers to find out what’s currently important to them and, more specifically, what they expect from food & drink manufacturers when they pitch to them…
PART III) GET THE BASICS RIGHT
Know your audience
Do your homework
Understand the pressures facing buyers in 2022
Retail buyers complain to us about manufacturers not knowing enough about the target consumer, not building NPD around the needs of the shopper.
However, another frustration is the lack of thought given to that other key customer – the Buyer themselves! If you can’t persuade the Buyer, you’re not going to reach the consumer, so treat them with as much attention and respect as you would the consumer.
“I’m looking for a point of difference and something exclusive to M&S. I’m looking for something that is authentic, artisan, high quality……something we can tell a story about to the customer that makes it look special.”
M&S Buyer
KNOW YOUR AUDIENCE
Make sure you do enough background work on the retailer, so that you understand what’s important to the Buyer.
How are they structured, e.g. National vs Local?
What’s their focus and strategy?
How are they performing in your category?
Which brands are doing a good job for them?
”One of our key strategies at the moment is looking for innovative new products. The challenge is finding suppliers with a genuine point of difference, backed up by evidence.”
Asda buyer
BE CLEAR ON HOW YOU CAN HELP THEM?
If you understand their challenges and objectives, you should be able to explain how you can both win commercially.
You’re not just bringing a product…how will you bring real value to their category, whether that be volume, margin, retaining customers, attracting a different demographic, or other important factors such as sustainability, HFSS etc
OTHER BASICS?
Provide some basic background info on your business
One page in advance with key bullet points
Do your homework!
Admin excellence…don’t waste their time with sloppy work
”Admin excellence is a huge thing for us. If a supplier is asked for barcode information, they need to make sure it’s correct. It’s becoming more cumbersome to set suppliers up. If suppliers don’t know the answer to something…ask. Don’t guess!”
Sainsbury’s
HOW CAN TRKR HELP?
We help food & drink clients get to grips with a category, for existing or potential new products. Both accessing EPOS and Panel data, and creating bespoke insight/evidence will help you develop better NPD, AND help you stand out to retail buyers
If you’re free for 30 minutes to run-though the TRKR What Retail Buyers Want report, please email mark@trkr.co.uk