Spring is Coming – Refresh Your Brand Strategy with These Top Tips from Retailers
In January, our founder, Daniel Scharff, hosted a panel at Winter FancyFaire* called “How Retailers Spot Innovation: What Makes a CPG Product Stand Out”. He was joined by these retail legends (if you don’t already know them, you should!) to talk about what innovation means and how your brand can bring innovation to brick and mortar and online retailers:
- Lauren Ressel Castro, Lead Director, Healthy Consumables & Grocery, CVS Health
- John Lane, Product Innovation Manager, The Raley’s Companies
- April Lane, Chief Merchandising Officer, Thrive Market
- Patrick Wyman, Local Purchasing Coordinator, Whole Foods Market
Let’s jump into the questions that just might help shape the strategy to get your brand to the next level.
What is the Role of Innovation for Your Stores and Your Shoppers?
- Getting people back into retail – not just shopping online – bringing the CPG experience back into the 4 walls.
- Unmotivated, convenience purchases – better for you items that make life easier at home. Think: less prep for meals.
- Additions to baskets rather than replacements – focusing on the basket size – what can your brand add rather than take away from a consumer’s purchase?
How Early is Too Early for Brands?
- Legal packaging is a must. If you don’t have legal packaging, you’re not ready for big retailers.
- If you’re going for larger retailers, it’s good to show that you have experience moving products in smaller retailers first to prove your concept and that it’s actually moving.
How Do You Know When Something is Innovative?
- For online retailers like Thrive Market, seeing the reports for shoppers’ searches that yield zero results is compelling – that means shoppers are going to their site, searching for something, and not getting a product in return. One thing that they’re looking to solve for right now? Better-for-you Dubai-style chocolate that fits their standards.
- Novelty. There’s nothing else like it, not just a ‘me too’ product.
- Communicating to the consumer well – if there’d education to be done, it’s covered.
What’s Popping in Your Sets and Doing Really Well?
- Snacks! Particularly kids snacks.
- Authentic ethnic food.
- Better-for-you indulgence that center on protein and fiber.
- Simple meal solutions – nutrition of a home-cooked meal with ease that costs less.
- Frozen foods focusing on cultural cuisine.
What Are Some Things Brands Can Do to Get Your Interest and Have a Good, Long-Term Relationship?
- Support your product. Invest in marketing, invest in ads. Don’t just list your product and assume customers will find it in the online marketplace.
- Focus on tempered growth – you want to grow, but do it slow and measured. Support with demos, promos, and marketing. If you take too big of a bite, it could come back to haunt you.
- Have the infrastructure to support a large scale launch – have your distributors ready to go and the inventory you need to support your store count.
- Work with your category manager to help get your products off shelf once they’re on there – if you agreed to do something in the onboarding process – stick to that commitment. If you’re not holding up your end of the bargain and then end up on a discontinued list, you shouldn’t be asking yourself ‘why?’.
About Startup CPG
Startup CPG is the biggest CPG community on the planet with over 30k members. We believe in the massive potential of small consumer brands — and have made it our mission to empower them along their journey. Startup CPG connects emerging brands to resources, industry partners, and the most supportive community in the industry.
Through our online community on Slack, our in-person events, and our media and resources — podcast, databases, webinars, and more — Startup CPG brings major opportunities to emerging brands at NO COST.
