Tips on How to Pitch to Retailers
by Startacus Admin
If you’ve created a product that you’d like to be sold in retail channels, knowing how to pitch is essential. It doesn’t matter if you are pitching to an independent store owner or if 
you’re pitching to a large multiple - getting your pitch right is a must. Here are some basic Tips on How to Pitch to Retailers that we reckon should help...
Do your research
Doing research on the retailer you are pitching to is absolutely essential. If your product stands any chance of being bought, you’ll need to make sure that it fits in with their current stock.
Research not only the products that they currently stock but also perhaps what products their competitors stock. If you can identify and fill a gap in their stockholding, it could help your pitch no end. Your goal after all is to ensure that your product gets on their shelves, so research is key.
Be able to define your USP
It’s vital when you are pitching to a retail buyer that you can clearly define and highlight what your USP is. It is likely after all that they will have heard pitches from many businesses that are very similar to your own. Make sure that you can convey what is unique about your product - what differentiates it from other products they may have seen or currently stock. There has to be a hook - a reason why they should buy from you. It might be an entirely innovative or unique feature, it might be a quality issue or it might be that your pricing is what differentiates you - whichever it is, make sure that you know what it is and that after your pitch, the buyers know too.
Know your numbers
A retail buyer will expect you to know your numbers inside out. They will want to know how much it will cost them to buy from you - any discounts for bulk ordering and any special offers for repeat ordering. If you are asked questions about quantities, about pricing negotiation and about practical things like order fulfilments, you have to know the answers off pat. Stumbling over your answers, calculating things incorrectly or looking confused when asked something ’number’ related will convey a wholly unprofessional impression. Know your facts and figures so well so that no question will leave you stumped.
Be honest
Let’s face it - it could be very easy to get carried away in a pitch and over-promise. If a retailer is interested in your product and expresses a desire for large quantities or a need to have your stock on their shelves quickly, it’s important that you are upfront and honest about your startup’s abilities to fulfil these needs. If you accept a large order and don’t have the resources or manpower to ensure that it is fulfilled, you are making a big mistake. Likewise if a retailer puts pressure on you with regards to delivery timescales that you know are unrealistic, you have to let them know. Over-promising and under-delivering can have a really detrimental impact on how your business is perceived and also on its long term reputation. Be honest from the off.
Practice your pitch
Some people are natural sales people and can pitch comfortably to people at any level of an organisation. Others however are not quite so comfortable and this discomfort can come across during a pitch and convey a lack of confidence. That subsequently can affect how confident a buyer is in that person and their product. If you are perhaps anxious about pitching or feel that you won’t be able to do your product justice, then practice is essential. The more you rehearse the pitch, the more comfortable you should feel doing it on the day itself. However, if you are really struggling, it might be worthwhile considering if there is someone else within your startup who could pitch more confidently. We all have our own strengths after all, so it’s vital to use them where they work best.
We hope that these basic tips on pitching to retailers help you if you’re about to do just that.
If you are - best of luck!If you're thinking of creating your very own retail empire, why not use these guys - they'll make it all as easy as fun.
If you like what you see here on Startacus, why not become a member of our growing community? It's free! And you'll get all this - exclusive access to our Business Toolkit, discounts and offers galore for your business via our member only business deals, the chance to network and connect with loads of fellow self-starters, and maybe even become our celebrated 'Self-Starter of the Week' and tell the world your startup tale! Join right here for free...
Taking place at Digital DNA Belfast 2017, upSTART, the two-day startup pitching battle, will again take place within a boxing arena. The shortlisted startups confirmed are...
New Startup Chanty, is an AI powered business messenger & single notification centre for all the software people use at work. Olga Mykhoparkina, CMO at Chanty shares their journey since launching only a few months ago...
Boredom be gone! This app is aimed at helping families discover fun things to do with their kids...
Property is big business, but pretty inaccessible to those without vast funds. Here are a handful of proptech startups who, amongst other things, are looking to change all that..
Currently crowdfunding, Arckit makes it easy to build a DIY 3D model of their dream home, street, or even city. Check it out.
National Enterprise Network, the membership body for enterprise support organisations, has published “Enterprise, the Economy and Society – an enterprise manifesto statement from National Enterprise Network."
‘Tech for Good’ startups can be found across the globe. Here are just a handful we've seen or heard of recently...
techUK, a leading body & trade association for tech companies in the UK, decided to publish their own Digital Economy Manifesto
Startups with focus on either insurance, health & care experiences, or well being change, read on - Bupa Customer Lab has launched its new Blue Table accelerator programme.
Need to generate more sales for your startup? This platform could be for you - it links startups directly with sales professionals.
Published on: 24th September 2013
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Enterprise Manifesto Statement published by National Enterprise Network 22nd May 2017 National Enterprise Network, the membership body for enterprise support organisations, has published “Enterprise, the Economy and Society – an enterprise manifesto statement from National Enterprise Network."
- Vidsy wins Facebook’s Innovation Spotlight award for creativity around video 16th May 2017 London startup Vidsy, a tech startup that helps brands create original & authentic mobile video ads has announced it has won Facebook’s Innovation Spotlight 'Creativity around Video' Award for 2017.
- Rise of the Machines to threaten 46% of Scottish jobs before 2030 9th May 2017 A recent report The ‘Scotland Skills 2030’ report, produced by the Institute for Public Policy Scotland, has warned that nearly half of the Scottish workforce are at risk of job termination because of the rise of automated machines in the workplace.
- Branson’s VOOM Pitch is back for 2017 2nd May 2017 Voom Pitch: a leading UK & Ireland pitching competition from Virgin Media Business is back for 2017 with a valued £1m prize fund & a bus tour.
