What does it take to win at retail? It is something we think about daily at Lentz & Company. We work with Walmart, where there are so many choices and the competition is fierce. Most of the time, our client partners have a handful of employees and a non existent marketing budget. We have to get creative to compete with the billion dollar brands on shelf.
The first rule would be to do the basics flawlessly. I played basketball my entire life. I couldn't tell you how many times our coach would say deliver on the basics and the rest will take care of itself. This is true in retail. Do the basics right- ship on time, develop packaging and products that meets the consumers needs, and do it all at a price point that makes sense for the customer and the category.
Once the basics are good, get creative. Social media has opened to many opportunities for brands that would have been non-existent in the past. We work with a brand in Walmart that has over 90k Instagram followers. They put out a Walmart specific Instagram post (with a WM influencer), and saw in store sales increase +30% in one week!
I'm oversimplifying it, but I assure you if you take these simple steps, you will be ahead of the game. Of course, I encourage you to partner with a firm that understands the customer and retail dynamics needed to be successful.
~Lentz & Company