Laying the Foundation for Success
Are you new to the retail channel and considering it as a way to grow your business? Or are you currently selling products at retail but not in the Big Box channel? Make the leap with Premium. We’ll help you determine whether a move into the Big Box world is a good fit, identify extra profit and growth opportunities, and create an action plan to make it happen.
Home Center Retail Strategy
With our office in Atlanta, GA staffed by industry veterans focused on the Home Center Channel, we are uniquely qualified to assist with developing and executing strategy for Home projects. Our clients currently sell over a half of a billion dollars into this channel.
Walmart, Mass and Consumer Electronics
Looking for a partner with experience growing sales in toys, home improvement, consumables and consumer electronics? Our offices in Bentonville, AR and Minnesota allow us to drive sales opportunities in the mass channel, thanks to our team. Premium is the right choice for you.
But before it all happens, we break the process into a sequence of strategy building blocks where we investigate and conduct the following across subsequent phases:
- The Retail Space— Which retailers are included in the specific retail arena? What are their strengths and weaknesses relative to your specific product? By identifying key attributes such as market share, store size, profitability, we put you in places where purchases are more likely to happen.
- Key Success Factors for Retail— What will it take for you to be successful in retail? The retail channel can be very different from familiar wholesale, distribution, and OEM channels.
- Define Retail Landscape for Specific Product Categories— Who are the primary suppliers? Define purchasers and end customer and why. Define market size, trends, and forecasted demand. This phase typically includes Premium’s Market Assessment deliverable as well as a Consumer Insights study.
- Channel Profit Analysis— Understand the business model and profitability of each applicable business segment. Analyze retail SKU profitability, based upon cost structure and existing retail marketplace, while defining the cost to service customers. This step is crucial in developing a retail growth strategy.
- Set Goals— Determine business goals by product category, then set priorities and targets across all applicable retailers.
Business Plan Development Develop an action plan to achieve retail targets at each applicable retailer. Identify required investments, resource and organizational needs to be included in the retail business plan. Preparation of capabilities and standards for Product Line Review also occurs in this phase.