Unless you’ve been off-grid the past few weeks, you know COVID-19 is here, and it’s having a significant impact on shopping behavior. Not only are consumers stocking up on products they normally would not buy, they’re facing product shortages and having to shop in different stores or seek out what they need online.
Coronavirus is here. Unless you were living in a cave, you've undoubtedly seen the media pandemonium, heard people talking about it, or seen and felt the effects of it on both travel and the stock market.
According to this Nielsen investigation, consumers are rushing to create "pandemic pantries" across the US, China, and Italy. This means retail is not immune from the effects of the virus either, presenting some symptoms that, if not treated, can result in some long-term negative effects.
The 2020 Winter Fancy Food Show promised and delivered on innovation as well as new and emerging trends in the specialty food industry.
So, your item is in Walmart or other retailers, but sales growth isn’t what you'd hoped. Perhaps fewer shoppers are aware of your brand, or the competition is fierce, or your marketing budget is modest. In short, you’re not sure how your current marketing choices are working. Join the club—famed ad man John Wanamaker once said: “Half the money I spend on advertising is wasted; the trouble is, I don't know which half”.
A recent series of best-selling books titled How Brands Grow by Byron Sharp pierces the clutter, laying a course of action for brand owners and marketers worldwide. How Brands Grow is a manifesto for evidence-based marketing: building brands based on what works in practice, rather than what should work in marketing theory. Guest blogger Jim Hauskey of Happy Egg Co. shares his take on How Brands Grow, and his company's experience applying the principles.
When you’re looking to launch a brand across U.S. retail, businesses tend to take any opportunity they’re given. They’re not highly selective when it comes to expanding into the U.S. market and instead, they throw everything at the wall and see what sticks.
That may be a fine strategy when you’re just trying to get your products on U.S. store shelves. But when those opportunities start to develop, the “throw everything” approach needs to go out the window. Instead, it’s time to be strategic and develop a game plan for where you go from that point on.
So let’s assume that your business has developed a presence in U.S. retail, and it’s looking to build upon that early success. What’s the path forward? What strategic variables need to be considered? Here’s a look at the strategy considerations to keep in mind.
Mama always told me, “Son, if I can’t trust you with the little things, how can I trust you with the big things?” (That probably should have been written in ALL CAPS, because it was usually after I’d done something to make her blow a gasket). I didn’t anticipate how impactful and applicable that nugget of wisdom would be during my career working with Walmart Inc.
We’ve all heard war stories about the brand that went out of business from losing money on Walmart. The reputation for driving out product margin is nearly folklore, but it doesn’t have to be true!
Toyota President Taiichi Ohno developed and implemented the first Just-in-Time inventory plan in Japan in 1938. The concept was simple: “make only what is needed, when it is needed, and in the amount needed.”
What does it mean to “button up” for your buyer?
The discipline of “buttoning up” for your buyer meeting with Walmart may sound like a foreign concept to you. Today’s workforce is full of remote work stations, home offices, coffee shop warriors, “work-cations,” and a general shift toward a more casual way of thinking.
Lucky for you, we’re not addressing the desire to be comfortable at work in “dress sweats” and dry wick woven bamboo t-shirt; or the paradigm shift in overall work-appropriate attire. We’re tackling a substantial factor much more important to Walmart: A comprehensive and detailed approach to the way you present and service your business at Walmart.
Your first meeting with Walmart Inc. is a landmark moment for your brand. Make a strong impression and it could be a giant leap toward placing your products on Walmart or Sam’s Club shelves. On the other hand, if you can’t make a compelling case for your brand, it could be a blown opportunity that alters the course of your company’s growth trajectory.
Preparation is key. When you go to Walmart headquarters to make your pitch for your brand, you need to know exactly what you’re walking into. And when it comes to Walmart, you’re likely to find a different meeting environment than the one you’re used to.
With that in mind, here’s what you need to know to prepare a winning pitch to Walmart Inc.