7 Common CPG Missteps, Consumer Products, retail, broker, master broker

7 Common CPG Missteps to Avoid with a New Product

Navigating the CPG retail world is complex and intricate, and bringing a new product to market can be difficult, even for seasoned professionals. It’s important to look to an expert before you take the jump into the retail market. Here are 7 common CPG missteps I see people make that can sink their product before it even has a chance for success.

7 common CPG missteps

  1. Mismanagement of brokers. Failing to keep a highly experienced, razor-sharp eye on everything brokers do from the minute they receive samples is a common misstep. Also, it is often “fatal” to send a broker alone to show your product to a buyer without adequate preparation, detail, and without a skilled master broker or highly seasoned sales executive to represent the brand in a comprehensive way.
  2. Incomplete retail presentation. You’ve no doubt heard the expression, “you never get a second chance to make a first impression.” This is especially true in retail. An incomplete or disjointed presentation turns off buyers who will reject your product and move on to the next.
  3. Bad package design. While your product is very important, the package design is the first thing consumers and retail buyers will see. If it’s not optimized for a retail store shelf environment, easy consumer comprehension and appeal to the target audience, it won’t make it to the shelves, or stay long if it does.
  4. Wasting your first meeting. Showing up unprepared to a meeting with a retail buyer at a trade show or in his or her office is the best way to not get a second meeting.
  5. Not understanding the true costs. Getting products on retail shelves can be an expensive endeavor. It’s a big mistake to not have a realistic plan and budget before you start the process.
  6. Being pressed into an unfavorable deal. A bad deal is a bad deal, even if it’s from a “good” retailer or broker. Once you’ve entered into an agreement, it’s too late to negotiate better terms.
  7. Hitting the shelves without an action plan. Unfortunately, even the best products don’t really sell themselves, and getting them on retail shelves is just the first step. Without a plan to drive sufficient velocity and awareness, your product is likely to be delisted after just a few months.

Avoiding these 7 common CPG missteps can help smooth the path to retail success. I share lots of ideas and tips on my blog, but if you would like to work with me on a consulting basis, please contact me at david@biernbaum.com.