Udemezue John
Introduction.
Nigeria is a large and thriving market for consumer goods, and getting your product listed in a retail store can be a significant boost to your business.
However, the process of getting your product listed in a store can be daunting, particularly if you’re unfamiliar with the Nigerian retail landscape.
It’s crucial to have a solid understanding of the market, as well as the steps involved in getting your product on the shelves.
In this guide, we’ll take you through the steps you need to follow to get your product listed in any retail store in Nigeria, from understanding the market to building relationships with retailers and creating a compelling pitch.
With the right strategy and approach, you can successfully get your product listed in a Nigerian retail store and take your business to new heights.
What is a Retail Store?
A retail store is a physical location where customers can purchase goods or services from a business. Retail stores come in various shapes and sizes, ranging from small mom-and-pop shops to large chain stores.
These stores typically offer a wide range of products, such as clothing, electronics, groceries, household items, and more.
Retail stores play an essential role in the distribution of goods, allowing manufacturers and producers to reach a broad audience and provide customers with convenient access to the products they need.
They also provide employment opportunities and contribute to the local economy. In recent years, online retail has become increasingly popular, but physical retail stores remain a crucial component of the retail industry.
Why Should I List My Product In a Retail Store In Nigeria?
Nigeria is a rapidly growing market for consumer goods, and getting your product listed in a retail store can be a significant boost to your business.
While there are many ways to sell your products in Nigeria, such as online marketplaces or direct sales, there are several compelling reasons why you should consider listing your product in a retail store.
1. Increased Visibility.
One of the most significant benefits of listing your product in a retail store is the increased visibility it provides.
Retail stores attract a large number of customers, and having your product on their shelves can help you reach a broader audience.
This increased visibility can help you generate more sales, build brand awareness, and establish credibility in the market.
2. Credibility.
When customers see your product in a retail store, they are more likely to view it as a credible and trustworthy brand.
Retail stores have established reputations, and being associated with them can help build trust and legitimacy for your product. This credibility can translate into increased sales and customer loyalty.
3. Convenience.
Retail stores provide a convenient way for customers to purchase your product. Instead of having to order online or travel to a specific location, customers can simply visit their local store and purchase your product.
This convenience can help you reach customers who may not have otherwise discovered your product, and it can lead to repeat purchases and customer loyalty.
4. Marketing Opportunities.
Retail stores often provide marketing opportunities for their suppliers, such as promotional displays or in-store events.
These opportunities can help you increase brand awareness and generate interest in your product.
Additionally, many retailers have established marketing channels, such as email lists or social media accounts, that can be leveraged to promote your product.
5. Improved Cash Flow.
Listing your product in a retail store can provide a steady stream of sales and revenue, which can help improve your cash flow.
This can be especially beneficial for small businesses or startups that may be struggling to generate consistent sales.
6. Secure investments and funding.
Having your products in retail stores is among the critical ways for business owners to increase sales.
Authorized retailers already have established relationships with clients and experience marketing products like yours which can lead to securing investment and funding to expand your business when you need it.
Why Should I Not List My Product In a Retail Store In Nigeria?
While there are many benefits to listing your product in a retail store in Nigeria, there are also some potential drawbacks to consider. Here are a few reasons why you may want to think twice before listing your product in a retail store.
1. Cost.
Listing your product in a retail store typically involves paying fees or commissions to the store, which can be a significant expense for small businesses or startups.
Additionally, you may need to invest in marketing materials or product displays to make your product stand out on the shelves.
These costs can eat into your profits and make it harder to achieve a positive return on investment.
2. Limited Control.
When you list your product in a retail store, you give up a certain amount of control over how your product is marketed and sold.
Retailers may make decisions about where to place their product on the shelves, how to price it, and how to market it to customers.
If these decisions don’t align with your brand or marketing strategy, it can be challenging to make changes or influence the retailer’s decisions.
3. Competition.
Retail stores often carry a wide range of products, and your product may be competing for shelf space with similar products from other brands.
If your product doesn’t stand out or offer a unique value proposition, it may struggle to attract customers and generate sales.
4. Limited Sales Data.
When you sell your product in a retail store, you may not have access to detailed sales data or customer feedback.
This can make it challenging to track the success of your product or make data-driven decisions about marketing and sales strategies.
5. Sales are not guaranteed.
Listing your product in a retail store does not guarantee automatic sales, your product has to compete with hundreds of other products that are your competition. What will make your product stand out is ensuring proper and attractive packaging.
6. Your Product might be damaged.
Another downside of listing your product in a retail store is that your product might end up damaged when too many customers need to touch it before figuring out what it is.
To avoid this you need descriptive packaging that accurately labels your product from a distance so that customers do not need to touch them.
7. Unable to get review on Time.
The inability to get an instant review of your product is another turn-off when it comes to listing your product in a retail shop in Nigeria or any part of the world.
Most times when a customer sees your product and dont like the ingredients, all they do is walk away from it without feedback. This can persist for many months leaving your product to expire.
8. Supply Chain issues
Another downside that comes with listing your product in a retail store is that it might be affected by a poor supply chain which is mostly caused by the manufacturer or logistics team.
Most times your product might get finished earlier than expected, and you need to replace it, but without proper planning, you may run into lots of issues hence making your customer turn to your competitor.
9. Risk of Overstocking.
If your product doesn’t sell as quickly as you anticipated, it can lead to overstocking, which can be a significant financial burden.
Overstocked products can tie up capital and take up valuable storage space, and retailers may charge fees or penalties for unsold inventory.
How do I Get My Product Listed In Any Retail Store In Nigeria?
Getting your product listed in a retail store in Nigeria can be a great way to increase visibility, build credibility, and generate sales.
However, the process can be challenging, and it’s essential to understand the steps involved. Here’s a guide on how to get your product listed in any retail store in Nigeria:
1. Research the Market.
Before approaching a retail store, it’s important to do your research and understand the market. This includes understanding your target audience, identifying competitors, and researching retail trends in Nigeria.
You can also research different retail stores to identify which ones may be the best fit for your product.
2. Build Relationships with Retailers.
Building strong relationships with retailers is critical to getting your product listed in their stores. This can involve networking, attending industry events, and reaching out to potential partners via email or phone.
Be sure to highlight the benefits of your product and how it can help retailers attract and retain customers.
3. Negotiate Terms.
When a retailer is interested in carrying your product, it’s important to negotiate the terms of the listing.
This can include the commission rate, payment terms, and any other requirements or expectations. Be sure to read and understand any contracts or agreements before signing.
4. Get a barcode for your product.
A barcode is a machine-readable code made up of numbers and parallel lines of different widths. It is mainly used to identify a specific product.
This code can be quickly scanned and identified with a barcode-reading machine that is connected to a database.
Using a barcode helps in managing a large inventory while decreasing the chances of errors. Barcodes can help wholesalers, retailers and distributors track inventory accurately and efficiently as well as eliminate human error.
They also make real-time tracking possible. With barcodes, you can know the available quantities of different products at any time.
5. Package Your Product Properly.
Branding is one thing you should take most seriously when listing your product in a shopping mall in Nigeria.
Package your product in a way that gives you an edge over your competitors, this way consumers would go for your product when they see it displayed on the shelves.
6. Provide Support.
Once your product is listed in a retail store, it’s essential to provide ongoing support to ensure its success. This can include providing training to store staff, monitoring sales data, and offering promotional support to help drive sales.
7. Evaluate Performance.
Finally, it’s important to evaluate the performance of your product listing regularly. This can involve tracking sales data, collecting customer feedback, and making adjustments to your marketing strategy as needed.
8. Develop a Marketing Strategy.
Once you’ve identified your target market and retail stores, it’s essential to develop a marketing strategy that aligns with your goals.
This can include developing marketing materials, creating promotional displays, and identifying key selling points for your product.
Just because you listed your product in a retail store does not limit you from promoting it. If you have a huge fan base on social media.
You should tell them about your product listing in that retail store. Remember that it’s a way to reward the retail stores for deciding to list your products.
1. Tell Your Close Friends to visit that store when shopping for your products.
The first set of people to know about your product being listed in a retail store should be people close to you such as friends, family and customers.
Telling them about the availability of your product in retail stores nationwide goes a long way in positioning your brand for trust and success.
2. Share The news with your Facebook audience.
According to marketers, only 0.5% of your current followers will see your posted content. But if you want to reach potential customers, you can create a social media ad strategy.
If your business has a huge audience on Facebook, you should do yourself a favour by breaking the good news to them about your product being available in retail stores for purchase.
You never can tell when someone from your Facebook audience will visit that store and shop for your product.
I wrote a comprehensive guide on how you can grow your business on Facebook. Check out the link to the article to learn more.
3. Twitter can help you a whole lot.
With millions of daily users, Twitter can be a powerful tool to raise awareness about your business, engage with customers and develop leads.
If you have been able to build an actively engaging audience on Twitter you can also spread the good news about your product being listed in retail stores across Nigeria.
I wrote a comprehensive guide on how you can grow your business on Twitter. Check out the link to the article to learn more.
4. Instagram is a free place.
There is always a place for any kind of small business on Instagram no matter what you do, and if you actively developed an engaging audience on Instagram, breaking the good news to them will not be a bad idea at all.
I wrote a comprehensive guide on how you can grow your business on Instagram. Check out the link to the article to learn more.
5. Tiktok serves as a platform.
TikTok has quickly become one of the most popular social media platforms in the world. Most businesses integrate the use of TikTok with their marketing strategy, and if you are one of those businesses, you can decide to leverage the power of TikTok to tell your audience about the availability of your product.
I wrote a comprehensive guide on how you can grow your business on TikTok. Check out the link to the article to learn more.
Conclusion.
Listing your product in a retail store in Nigeria can provide a wide range of benefits, including increased visibility, credibility, convenience, marketing opportunities, and improved cash flow.
By understanding the market and building strong relationships with retailers, you can successfully get your product listed and take your business to new heights.
Listing your product in a retail store in Nigeria can be a great way to increase visibility and generate sales, but it’s important to weigh the potential drawbacks as well.
By carefully considering your marketing strategy, budget, and sales goals, you can make an informed decision about whether or not retail store listings are right for your business.
Finally, Getting your product listed in a retail store in Nigeria requires a strategic approach, strong relationships with retailers, and ongoing support.
By understanding the market, developing a marketing strategy, and building strong partnerships, you can successfully get your product listed and achieve long-term success.
GIPHY App Key not set. Please check settings