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Getting into Retail > Business Development and Product Line Reviews

Business Development and Product Line Reviews

Transforming the Complex and Varied to Simple and Constant

Premium Retail Solutions engages in a multi-faceted approach to help our clients sell more products and grow retail sales. We hyper-focus on additional placement of products in the current assortment (e.g., online and special-buys) and additional new products. Because the path to adding new products at retail is varied and somewhat unpredictable, we utilize all of the following business development channels.

Multi-Channel Retail

As consumers gather more and more information before making a purchase, multi-channel retail execution is driving sales. Online sales are skyrocketing as retailers and manufacturers can offer and sell more products thanks to the Internet. This channel is often the fastest way to sales with minimal barriers to entry. Using our Consumer Insights techniques, we have a unique understanding of the categories that work best online.

We’ve on-boarded thousands of SKUs into retailers’ websites. We help our clients to quickly and efficiently receive merchant approval and upload new products so sales are quickly realized.

We know what it takes to optimize a landing page for sales: effective marketing language (meeting retailer requirements), product images, videos, and other supporting materials such as warranties and manuals. We take the administrative burden from the manufacturer and can even help coordinate pick, pack and ship operations when necessary.

Promotional and Regional Buys

Retailers follow a regular cadence for off-shelf merchandising. Special buys are a great way to sell products outside of the everyday assortment or in higher traffic areas of the store. Premium identifies and presents promotional offerings for our clients. We do the legwork of navigating the process from proposal to selection and product placement in the store.

Merchants may conduct a regional or market test before adding a new product or program to their assortment, Premium leverages our unmatched experience and relationships with regional managers to sell and execute regional buys.

Product Line Reviews

Product Line Reviews are the primary method that a retailer may change their in-store assortment and/or change their supplier base. Depending on the product, category reviews typically happen every 1-3 years. But, how will your product be included?

Premium guides clients through the entire process from invitation to presentation. We leverage our experience from both the retailer and supplier sides to ensure you present compelling, encompassing, and competitive presentations to win new business.

Premium has participated in more than 50 Line Reviews since 2008. Successful Line Reviews require market and consumer insights, competitive insights, cost leadership and innovation. Premium owns primary responsibility for — and partners with the manufacturer — turning those insights into a true competitive advantage in the Line Review, including detailed insights into incumbent supplier cost and retailer margin requirements.

Hear it for Yourself

“…The Premium team was able to provide in store sales support, real-time customer feedback and product training that was invaluable to understanding the performance of the program and driving sales at the store level. Not only did they engage hundreds of contractor customers on our new offering, they captured names and contact information for these customers so that we can build an ongoing relationship. They also made sure our end cap was up and trained hundreds of associates. The program delivered excellent short term benefits…but the long term dividend of this…will be huge!”

-Lithonia Lighting Vice President of Retail Sales, Lithonia Lighting

“As our high season approached in 2012, using [Premium’s] QTrax POS, we discovered that some of our historically top-selling SKUs were underperforming forecasts in key retail locations. We had some ideas as to what the cause of the problems might be, but Premium helped us to quickly confirm the issues consumers were encountering in our high priority stores. They also rectified the problems with spot packing down product, organizing our space and updating our on hand counts to be accurate. As a result, we were able to quickly recover and drive more than 50% sales increases in the visited stores.”

-Rain Bird National Account Manager, Rain Bird

“The market research from Premium was absolutely essential to our successful launch at retail. Not only did it help us refine our approach to the market including pricing and packaging, the data was critical in convincing the merchant to move forward.”

-PF WaterWorks President, PF Waterworks

“Premium’s creativity and market research capabilities set them apart from other consulting agencies in the industry. They have helped us conceptualize and market test ideas that will help us dramatically grow our hand tools business.”

-JS Products, Inc. President and CEO, JS Products, Inc.

“Premium was able to help us identify and size a completely new market for growth and turn our thinking 180 degrees on which channels to target.”

-Origin Point Brands VP Sales, Origin Point Brands

“The analysis was so compelling that Home Depot’s merchant team doubled their opening order right there in the meeting,”

-Lighting Science Group General Manager, Lighting Science Group

“I have been working as a vendor to retail for a long time at Black and Decker, Emerson and a couple of other large manufacturers. Our ability to react to what is happening in specific stores for specific SKUs is one of the most powerful retail tools that I have ever seen. On a monthly basis it drives real sales opportunities for us and for our retail partners. It also makes us a more valuable partner to the retailer and allows us to differentiate on something other than pure cost.”

-Lighting Science Group Vice President of Retail Accounts, Lighting Science Group