How to Use E-Commerce To Foray Into Retail
More and more food and beverage consumer packaged goods (CPG) discovery and commerce is happening online. CPG brands who want to get ahead of the competition use e-commerce activity in different ways to jumpstart their retail strategy.
Consumers discover products online
Undoubtedly, a utopia for many CPG manufacturers is seeing their products go into shopping carts and out the checkout aisle. Successful brands in national retail distribution know this journey can take more than a decade – if they make it at all. Ninety five percent of new products fail, according to INC.
While the COVID-19 pandemic has shown an upswing in online grocery sales, the majority of food is still bought in retail stores. At a retailer point of sale, brands will grow and gain maximum consumer awareness.
Yet, retailers – faced with challenges of limited shelf space and the pressure of stocking high velocity goods – will need to rely on brands to bring in customers to their stores and increase product sell-through. Additionally, the average grocery store carries ~30,000 SKUs, according to FMI data*. Therein lies a great responsibility on brands to have some consumer recognition once they hit the shelf.
Curious to learn more on how …