There’s nothing easy about launching a retail program, no matter how many times your brand has pulled it off in the past.
Retailers, and especially big box retailers, expect your program to go off without a hitch, and they’ve got pages of meticulous requirements to show you that they mean it.
Meanwhile, supply chain havoc breaks out with little warning, overseas vendors can be difficult to manage, and the difference between a profitable display and a boondoggle can come down to a fraction of an inch.
The number of ways a retail display program can go wrong can feel infinite, but the fact is, trouble is often the result of common preventable errors.
Here are three key practices you can use to shrink your risk and skip the anxiety.
1. Don’t be Fooled by the Word “Guidelines”
Retailer compliance is non-negotiable, and requirements cover a long and detailed list of mandatory metrics, data, timelines and qualifications. Don’t shortcut the process of getting to know them thoroughly. From your very first buyer meeting, you should be fluent in the language of the retailer you are pitching. The effort will pay off in confidence.
2. Vet Your Overseas Vendors Meticulously
Reliable offshore display and packaging vendors are an invaluable link in the retail display supply chain, but if you skip the due diligence process you open your program up to a world of risk. From missed deadlines and blown budgets to an irreparably damaged reputation with retailers, the consequences of failing to thoroughly vet an overseas supplier will leave you sweating every step of the process. A diligent process for qualifying vendors, on the other hand, will have you sleeping like a baby.
3. Arm Yourself with Data
A solid understanding of your all-in costs, including product, packaging, displays, warehouse/distribution, testing, fulfillment/co-packing and giveback/damage reserves will allow you to make a strong case for adjustments to ensure your profitability. It’s like having all the answers to the test in advance. While your competitors are mopping sweat from their brows, you will be coolly laying out your arguments, demonstrating your grasp of the details and negotiating the terms of a program your customers and the retailer will love.
Experienced Help for Anxiety-Free Retail Success
At TPH Global Solutions®, we know how quickly the excitement of a new retail opportunity can give way to the stress and chaos of unplanned disruption. We also know how to steer clear. With over six decades of experience helping brand managers succeed, our solutions smooth the path for our clients to navigate the gantlet of retailer requirements and supply chain challenges with ease, profitability and repeatable success.
That’s not a promise. It’s a process, honed over decades and thousands of successful retail campaigns for warehouse clubs, big box retailers, pharmacy, grocery and other specialty retailers.
Contact a member of our team to learn about our solutions for your next retail program including custom POP displays and packaging, project management and supply chain optimization, logistics and transportation support.
