Question

Topic: Strategy

Document Needed2persuade Retailer To Stock Product

Posted by Mags on 11/1/2008 at 8:41 AM ET 100 Points
Hi, I am developing a document for a company, that will be sent to a large retail chain, in the hope that the retailer will stock their product.

The product is a unique purse and the retailer is a bag/luggage chain.

When contacted, the retailer asked for information to be put together and mailed to them (and no products provided due to the amount of proposals they get).

I have lots of information to include in the proposal, including product description, unique features, images, current RRP, client testimonials, web stats/interest levels, sales to date, and media coverage achieved to date. (The product has been available online, direct from the manufacturer, for a year).

But, having never put together this specific type of document before, I wanted to ask if anyone had any examples of a similar proposal. Or, other information or sub-headings that I should include.

Any advice would be appreciated.

Thanks
Mags.
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RESPONSES

  • Posted by Jay Hamilton-Roth on 11/1/2008 at 11:02 AM Accepted
    Another resource: The Geisheker Group (https://www.geisheker.com/) who claim to be able to help you get your products into retail spaces.
  • Posted by CarolBlaha on 11/2/2008 at 9:06 AM Accepted
    Remember the "what's in it for me" mentality of the buyer. They will want to know the potential profitability of the product. They wlll want to know how you are going to relaibly handle manufacturing. Are you solvent enough to manage the cash flow? What are your quality controls? How can you assure them of a consistant product, with on time deliveries? Its not nlikely that they'll send it back if its not selling. Or impose delivery penalties if you aren't on time.

    These buyers get inquiries all the time from people who just aren't ready for the scale of large retail operations. That is why they don't even want to see product yet. So make it professional and with real numbers and reasons.

    Sell Well and Prosper tm
  • Posted by Lazenby on 11/2/2008 at 11:08 AM Accepted
    I would first tell you to listen to the 3 people above this response, I see their reponses regularly and they are always very insightful and accurate in my experience.

    That said, I would offer you a slightly different POV based on my experience working with the biggests retailers in the world.

    First, they are usually bombarded by "inquiries". They need a screening process. Most people will be too scared or to lazy to do this step...therefore they would not have been good partners and would have been a waste of time.

    Secondly, rather than spend the time and energy on ideas which are not a fit they want to screen them to streamline the process.

    If they are a "big retailer" they have too much loose by stealing your idea, don't be stupid but also don't take yourself out of the game by being too protective.

    Regarding your actual question, Carol nails it. Provide them what they are looking for and give them a reason to call you back, show them you know your business and product, you can add value to them not just sell them, and show them you should be considered a longer term partner.

    Hope this helps you - have a great one - clint
  • Posted by Mags on 11/3/2008 at 1:36 AM Author
    Thank you all so much!! You've been so helpful and certainly helped me add a few ideas to the proposal.

    I've decided in the first instance to write a letter of introduction and a one page snapshot of the product (with photo), to send to the retailer first. Then, if they are interested, we'll provide the full proposal at a face to face meeting, after they've signed a confidentiality agreement. As you mention Phil, that's the most important issue here, and one that does concern me.

    Thanks again,
    Mags.
  • Posted by CarolBlaha on 11/4/2008 at 9:33 AM Accepted
    Please listen to Nancy's advice above before you just send a pix and brief synopsis. I know from your side you feel "its all about the product" but it isn't. There are tons of great products that fail for that from a "great product" stand point-- shouldn't. Read and reread her (and my) post about what buyers really want.

    I would strongly discourage you to just send a pix and one page intro. You are selling yourself short. They don't want you to send product for reason-- and its not because of mutiples of inquiries. Its other things they want to review before they even consider it, no matter how great it is.

    Sell Well and Prosper tm
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