Major Fears of a Corporation
Preserve your shelf space before it gets shelved.
It's a classic oversight by companies. They continue selling products year after year with little or no new additions to their line. They feel that their customers will always remain loyal to them and carry their products. Corporations feel that the years of working with their customers have created an indestructible bond... WRONG! Before you know it, there is a new buyer in that category and your products and shelf space are being threatened and eventually replaced with someone else's.
It's easier to retain shelf space than it is to gain it or win it back. It should be your corporation's primary goal to do everything in its power to keep it. You may not realize it, but before you had it, that space belonged to someone else. You may have not known much about it back then, only that you must have had products that were of more interest to your customer and ultimately theirs. However, if your space is not protected through preservation techniques, you may be in danger of losing valuable real estate to aggressive competitors willing to do whatever it takes to grow their corporation.
Below are some tips for preserving shelf space:
- Make regular visits to retail outlets to see how your products are being displayed (ensure that a floor display is not obstructing your products).
- Track your sales to see if the products are selling, and if not, ask why? Do they need better packaging, better marketing, etc?
- What do the products on either side of yours look like? Are you losing the sale to your competitors?
- Are you replacing non-performing products with new ones? By taking a proactive approach, you will show your customers that you value the space and want them to maximize their return on the real estate they have given you.
Keeping your line refreshed with new products to replace non-performing ones is the smartest way to attract and keep customers coming back to your shelf space to see what's new. At Davison International, we take an offensive approach to keeping corporations' lines stocked with innovative new products.
If you are in danger of (or are currently) losing market share, your corporation is in desperate need of new product infusion. Contact us to learn how we can help you get started.