Develop Amazing Packaging
One of the most valuable things that you can do as the entrepreneur behind a retail product is to invest in the packaging. You have literally five seconds to convince the customer at the end of the day, that this is the product that they wanna buy, and this is why it's gonna solve their problem, and it's worth more than the price that the store is asking for. So being able to convince them of that, really comes into packaging, and how you display your competitive advantage, the reason for your product's existence. If your product is not a destination item, or something that somebody comes into the store to buy, then you're gonna be probably lumped in with impulse items. And impulse items mean that they're walking by the shelf, or they're walking by the check out counter, and they go, "Oh, I have that problem, this will solve it, that's reasonable price." So getting to that is a lot of psychology, but you don't have to be a psychologist to get there.
It's all about testing, in store testing is king. So knowing that the value is judged by the client's opinion of your product, is going to be the biggest thing that you should keep in the back of your mind. And finding out how your packaging could stand out from the other products on the shelf, is going to be your homework, it's gonna be your job. The best way to do this, is to put the product in different places around the store. Now this is where having a relationship with a store owner will really become invaluable. If you know a store owner that will let you put the product around the store, will let you test in their store, it's gonna give you so much more advantage than any other competitor that has gone through this the hard way.
There's different ways to display the product in the store. You have peg, so putting it on a peg, you have a shelf, where you can put the box on the shelf, you have a clip strip, where you can zip tie it anywhere around the store, and let it hang so people can grab it. You have the endcap, which is the end of the isle, you have the check out stand, and a million places in between, including the cooler. So knowing the best place for your product is gonna be essential.
If you are stuck to an area like the cooler, the next step is going to be about in store marketing, and in store branding. What can you put on the cooler that will drive sales for your product? What packaging can you use as a wrap around your bottle, as a topper on your bottle that will make it interesting, and make it stand out, and make people drink it. Or if you are a product that goes on a retail counter, so let's take this pen for example again. My favorite pen here is going to be sold in different ways around the store.