Are you an SME in Nigeria, seeking an avenue to promote your product to the Nigerian audience? Getting your product listed in a retail store should be a major priority for you.
As a start-up, your chances of getting huge funding for publicity and brand awareness are quite slim.
Stocking your products in a supermarket would avail you more sales, it would also introduce you to a new set of consumers, more brand awareness and more opportunities to pursue funding.
Nevertheless, there are several ways to get your products to your targeted consumers at little or no cost.
What is a Retail Store?
A retail Store is a building or structure for selling, offering for sale, or renting goods, wares, or merchandise on an item-per-item basis, directly to the public which includes storage or a warehouse.
Why Should List your Product in a Retail Store in Nigeria
The past decade has seen the increasing emergence of large American-styled malls in Nigeria’s populous cities.
Investors have been attracted by the promise of Nigeria’s large population, a growing middle-class, and the high level of urbanization that is currently happening in the country.
In the next few years, we are likely going to see more urbanization projects happen in Nigeria. Here is the reason why you should list your product in a retail store in Nigeria.
1. Attract Traffic.
Ikeja city mall holds the bragging rights as the first and the busiest mall in Nigeria. Listing your product in a retail store like Shoprite can help drive organic traffic which will eventually lead to customer patronage.
2. Gains sales.
The retail store is an attractive destination to middle and upper-class citizens of a country, with a high purchasing power that eventually leads to the patronage of goods and services.
3. Build brand Trust.
Selling products in retail stores provides business owners with several opportunities that lead to the development of brand trust.
Entrepreneurs can quickly get documentation for sales proof if they have successfully sold their products in the smaller retail stores, which can make it easier to get products in the larger, well-established stores.
4. 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.
The downside of Listing Your product in a retail store.
Seeing a product on store shelves is something most entrepreneurs dream of. But what’s the process of getting a product into stores? What steps can entrepreneurs take to realize their dream of walking the aisles and seeing a reflection of their hard work?
As these questions are answered in this article, I would also like to describe some of the downsides to listing your product in a retail store.
1. 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.
2. 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.
3. 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.
4. 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.
How Should You List Your Business in a Retail Store?
Nigeria is home to some of the largest shopping malls on the continent, with similar facilities to malls in the developed world
These malls include those owned by foreign investors such as Shoprite, and indigenous retailers such as Justrite, Addide, Goodies, Park ‘n’ Shop, Ebeano, Blenco, and many more that are changing the shopping experience in Nigeria.
Getting your business listed in these retail stores can change how you do business for life. Here are steps to be taken to get your business listed in a shopping mall in Nigeria.
1. Do Product research.
Product research is one method used to ascertain how well your product will far in the supermarkets.
The best approach to go about this is to go to these physical outlets and ask questions from the staff about your competitors, and their pricing and see what you can do differently.
Check the shelves to see what is on display, both in terms of quality and price, this would help give you a sense of what the store is about.
Understand cost price, net price, operating cost and gross profit. This would help you ascertain the minimum price you are willing to offer the products to the supermarket.
2. 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.
3. 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.
4. Prepare a well-detailed proposal.
A proposal that introduces your company and your products should be handy. It would include your company profile, what you do, the product and its benefits to society, why the products were created and any other mileage.
Even if you don’t have a lot of business experience in sales and negotiations, use storytelling to promote and convince your distributors and market.
You can as well provide sale figures, and testimonials of people who have used the products you’re trying to promote. Remember, you are trying to list your product and connect to your customers.
5. Choose the desired shopping mall.
Go to the store with your proposal and your product samples, and ask to see the general manager or departmental manager. There are many shopping malls in Nigeria, we have tons such as Shoprite, Justrite and many more.
Introduce yourself and your product. Once you engage the manager, propose to stock your goods in the store and push forward the value and traction they get doing that.
7. Close a deal.
Finally, it’s time to close a deal and to do this, you need to offer them more benefits that would also help drive sales for both their store and your brand.
For instance, if you have a huge following on social media, inform them that you would promote their store on your social media page which will in turn direct customers to their store.
Always take along samples of your products, this is very important, as it would enable the managers to see what the product looks like and probably sample it.
8. Promote Your products.
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, families 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 purchases.
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.
One thing to consider when listing your product in a retail store is not having enough to support both the store and your other sales avenue.
You don’t want to find yourself in a position where you can’t ship your sales because of fulfilling wholesale requests, or not being able to supply retailers because you’ve sold too much online.
You need to make sure that going into stores works for you at that moment, if not, you can stick to selling using other mediums.
Before you pitch your products anywhere, you need a strong message about what makes them different from anything else a potential store is selling.
I wrote a comprehensive guide on this blog on how to start an eCommerce business. Check out the link to the article below to learn more.