So you’ve always wanted to get your food product into stores but weren’t sure how to go about it? It may seem like a dream, to see your range of products stacked on shelves of Coles and Woolworths, well what if we could tell that it wasn’t as hard as you thought.
In this blog we will go through four things you need to look at before you even think about setting up a meeting with either Coles or Woolworths to get your product on the shelves.
Know Your Target Store AND Their Strategy
Whether it is Coles or Woolworths, believe it or not they have very different approaches specifically for the Australian market.
It isn’t a one size fits all just because they are both the two major food retailers in Australia. There is so much more that goes on behind the scenes in terms of how each of them approaches marketing, customer service. Customer satisfaction and product offerings that makes them completely different.
But you may be thinking… how do I find out more about the strategy then you can download their Annual reports to do a deep dive into thor strategy and also see into their financials which will give you a huge indicator into what direction they are going in. Don’t try and guess where you think both of these major food retail companies are planning simply download and read the report to also get clear insight into their direction, strategic planning for the next year and also their priorities which moves onto our next point of advice….
Download Their Annual Report.
There are no secrets being kept when it comes to what’s on the cards for both Coles and Woolworths in terms of what both companies are looking to achieve in the food retail space. You don’t have to guess as to what they want you can simply download their annual reports easily from their website. We will even make is easier for you and provide the links here:
Download the Annual Report here:
Coles Annual Report
Woolworths Annual Report
Once you have gone through their annual reports, then ask yourself, how does my product or range fit into the bigger picture. As an example we can look at how both retailers are strategically moving into providing more organic produce as well as healthy foods to meet the demands of the public which has led them to launching their own organic brands on the shelf and reducing the shelf space for unhealthy foods. If your food in this particular case doesn’t align with the overall strategic plan of the company, then this will make it difficult to negotiate with your product.
The beauty of having these reports means that you don’t have to guess as to what is going on with the companies you can simply see and there is a clear road map which ensures transparency when it comes to what they are planning strategically for the future.
Always Be Innovating – Adapt or Die
Innovation is change that unlocks value. – James Notter
Your product is so much more than simply a food item that fills a need. Your product needs to be innovative and stand out in every way possible, it needs to scream to customers as they push their trolley past the shelves what will make them stop. What will make them want to buy from your brand specifically and become a loyal customer? It would even be advantageous to go into the shopping stores you would like to have your products stocked and ask yourself these questions while you are there:
How many shoppers crossed the aisle?
How many shoppers stopped at your category and brand?
How many shoppers interacted with your brand?
How many shoppers looked at the competitors?
New product development is pivotal with the larger food retailer companies for three reasons in particular.
There can be higher margins with the new products.
Shoppers are statistically more likely to spend more on new and innovative products.
They put that major retailer ahead of the competition.
Is your product a fusion of an old product with a new idea twist?
Does it make things more convenient or novel for the consumer?
Before you even decide to pitch to these food retailers know your specific niche and angle that you are going for, it is essential that you convince them that with this product on their shelves they are losing money. Define the benefits and also focus on how it is an opportunity loss if they don’t invest in buying your product or range for stocking at their stores.
Be Responsible with Social Responsibility
Last but not least you need to embrace corporate social responsibility because it is something which is sweeping across world international. Consumers are now consciously on the pulse of what they buy and want to ensure it aligns with their core beliefs.
The power of marketing has shifted and is now in the hands of the buyer, they choose what brands and products align with them and this means the food retail companies are at the mercy of the buyers, which is us.
By having a product or range which falls into the categories of eco-friendly, fairtrade, sustainable or recyclable, this can fit in within the category of social responsibility and increase your chances of being picked up by Woolworths or Coles.
Are your products sustainable? Are they recyclable and how are the packaging being managed? These are the kind of questions you need to ask yourself because they will need to be answered when you meet with a large food retail company to talk about your product.
Many companies skim over this opportunity to do more research on the major food retail companies they are looking to stock in and failing to prepare for meetings is preparing to fail. Focus more on what you can offer Coles or Woolworths as opposed to why you have the best product.
Are you looking to have your product range stoked in either Coles or Woolworths?
We would love to help you out, simply call on 07 55 800 771 or email hello@consultgroup.co today.