Understanding Retail Buyers
Consultant and Master Broker David Biernbaum joins Mark and Robb on the podcast to discuss what a company should know before meeting with retail buyers. They go through steps in the process of getting a product on a retail shelf, exploring some of the thinking behind the store-level planning that determines whether or not a product will be approved. Category reviews at retail stores are major endeavors that any brand needs to be well-prepared for.
Smaller products and companies tend to be the higher margin products, with better innovation, but they’re still competing against the name recognition of big brands. Retail buyers are risk-avoidant, so a brand must make it clear that the risk for the retailer would be not adding your product to their shelves.
They explain the difference between brokers and master brokers and why brands need them to get into retail.
David Biernbaum is an acclaimed consumer products and retail consumer goods strategist, consultant, and master broker of national retail sales, specializing in the health and wellness space, and driving success through a loyal network of independent brokers nationwide. Since 1977, David and his teams have brought success to more than 200 highly successful consumer brands by providing hands-on expertise and personal passion and energy, to help consumer goods clients build brands and increase retail sales and profits, without the “big agency” overhead and bureaucracy.
In addition, David is also an investor and board member who is always on the lookout for the next innovation, or brand. He is a “BrainTrust” panelist and blogger on RetailWire.com, a guest editor for CPG Trade Media, and a speaker on consumer goods and retail topics who is frequently quoted in Forbes, CNBC and in industry trade publications.
In 2010, David founded “Consumer Goods & Retail Professionals”, a LinkedIn group for members to share industry information, news, referrals and friendship that now has more than 70,000 connections. David resides in suburban St. Louis and is a devoted fan of the St. Louis Cardinals and St. Louis Blues, as well as the Tigers of the University of Missouri-Columbia, his alma mater.
Visit his website, http://biernbaum.com/, and follow him on Twitter: @davidbiernbaum.