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Want to Build Long-Term Retail Partnerships? Try Holistic Negotiations

During one of my recent leadership share groups, I noticed that almost every company in the room struggled with the same challenge. Their most important partners and customers are narrowly focused on short term results, rather than long-term relationships and mutual gain. Simultaneously, most of the top companies are investing in higher-level negotiation training, resulting in more tension, frustration, and relationship angst. 

It’s natural to lose track of your script and become bogged down in the transactional nature of some relationships, but it’s essential to remember the humanity of the other party. Mutually beneficial negotiations create a sense of trust which carries into the future.

The literature shows that the best relationships are rooted in “seeking to understand” another’s agenda with higher-level diplomacy, shared interests, and co-creation. Recently, I conducted research with a group of senior sales leaders which focused on the health of their retail partnerships. This survey aimed to uncover the factors hindering their engagements and profitability with their largest partners. I discovered that one-third of the manufacturers surveyed are struggling with profitability, desire more access with their top customers, and are looking for more creativity from these customers. How do you think your organization is fairing?

Developing

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In: Retailing Tips|Last Updated:

Graham Firrell is a visionary entrepreneur who has carved a niche for himself in the health and wellness industry. As the founder and CEO of GoWild Australia, he has introduced the world to the Kakadu Plum (aka gubinge), a superfood native to the coastal outback of Northern and Western Australia. Under his leadership, GoWild Australia has become a global supplier of the gubinge fruit and has developed all-natural liquid extracts, whole fruit powders, and process solutions from Indigenous Australian traditions.

The ‘Koala-fications’ of the Kakadu Plum

For over 60,000 years, Indigenous Australian communities have wild-harvested and used the Kakadu Plum as a medicinal, nutritious, and tasty food source. Today, this amazing superfood is recognized not only as the world’s richest source of natural Vitamin C, but also for containing over 50 various identified nutritive compounds. GoWild Australia sources the Kakadu Plum exclusively from native communities and cooperatives across Northern and Western Australia. These communities grow and supply this special ‘super fruit’ from sustainably managed and naturally wild forests or semi-wild plantations under their direct control. 

OLYMPUS DIGITAL CAMERA OLYMPUS DIGITAL CAMERA

GoWild Australia’s product applications can include foods, supplements, medicinals, nutraceuticals, skin care, hair care, body care products, and beverages …

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Pivoting for Success: How One Startup Food Brand Drove Rapid Growth by Being Quick on its Feet

The pivot.

It’s a term coined by Eric Ries in his bestselling book, The Lean Startup, and has been part of the entrepreneurial dialogue ever since. It refers to the ability to abruptly and quickly change the direction of your business when the need arises. For CPG startups, the ability to pivot is essential, as they regularly face rapidly-shifting consumer trends, market and supply chain fluctuations and the varying demands of buyers.

Joseph Trousdale, Founder and COO of Houston, Texas-based food brand PhoLicious, has had a crash course in pivoting over the past few years, and it’s his ability to adapt and change at a lightning pace – both in life and business – that has led to his astonishing success as a new entrepreneur. PhoLicious makes authentic Vietnamese pho that can be prepared in minutes at home and has only been in existence for two years, yet has already landed deals with Walmart, Sam’s Club, QVC and Sysco. 

“Being able to think on your feet and solve issues that come up without getting discouraged is essential in this business,” says Trousdale. “As entrepreneurs, we’re always going to have roadblocks, but you have to have that jackhammer in your back …

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In: Retailing Tips|Last Updated:

“You’re too expensive.

“We don’t work with your distributor.” 

“We already carry something similar on our shelves.”

“You just missed your category review….”

Sound familiar? There are countless reasons why a wholesale buyer says no to your product line – or even worse, never responds to your sales pitch in the first place. Today I’m sharing the top 5 reasons why a buyer says no, and how you can craft a rebuttal that shifts their thinking and lands you on that dream retail shelf every time. 

Why do we care about the reasons why a wholesale buyer says no? It’s simple: we must anticipate the rejections and prepare for the OBJECTIONS so we can make a plan on how to overcome them. Once you know what a buyer might say (or not say!) about carrying your product line, you can figure out how to craft a rebuttal that works every single time, for every single situation.

5 common objections from buyers

Here are some of the most common objectives brand founders hear when pitching to wholesale buyers:

Their products are too expensive and likely won’t sell on our shelves.  They already carry something similar: or they already have that category…
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In: Retailing Tips|Last Updated:

Graham Firrell is a visionary entrepreneur who has carved a niche for himself in the health and wellness industry. As the founder and CEO of GoWild Australia, he has introduced the world to the Kakadu Plum (aka gubinge), a superfood native to the coastal outback of Northern and Western Australia. Under his leadership, GoWild Australia has become a global supplier of the gubinge fruit and has developed all-natural liquid extracts, whole fruit powders, and process solutions from Indigenous Australian traditions.

The ‘Koala-fications’ of the Kakadu Plum

For over 60,000 years, Indigenous Australian communities have wild-harvested and used the Kakadu Plum as a medicinal, nutritious, and tasty food source. Today, this amazing superfood is recognized not only as the world’s richest source of natural Vitamin C, but also for containing over 50 various identified nutritive compounds. GoWild Australia sources the Kakadu Plum exclusively from native communities and cooperatives across Northern and Western Australia. These communities grow and supply this special ‘super fruit’ from sustainably managed and naturally wild forests or semi-wild plantations under their direct control. 

OLYMPUS DIGITAL CAMERA OLYMPUS DIGITAL CAMERA

GoWild Australia’s product applications can include foods, supplements, medicinals, nutraceuticals, skin care, hair care, body care products, and beverages …

Read More

In: Retailing Tips|Last Updated:

Suppliers only get one chance to make a great first impression during a buyer meeting, so preparation is key to ensuring that the meeting is a success. To help suppliers prep, I’ve assembled a list of six key questions which every supplier should be prepared to answer when meeting with buyers.

These six questions were originally identified in CatMan 2.0, a 330-page document that I co-wrote a few years ago. CatMan 2.0 was created by a blue-ribbon consortium of companies and solution providers. It was a comprehensive update of the original category management industry approach that I co-developed in the early 1990’s.

In the CatMan 2.0 chapter on space and assortment, the consortium identified the six questions retailers are likely to expect a manufacturer to answer when a brand introduces a new item and asks for shelf space. Following are are the six questions, which I’ll expand on in detail below:

Where does the new item fit in the Category Decision Tree (CDT)? How is the new item different from the competition? To which target shopper does the new item appeal? How much incremental volume will your item generate? What’s the effect of your item on category profit?  What’s your…
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