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Are you looking for ways to increase sales for your Fast Moving Consumer Goods (FMCG) products? Look no further! Here are our top three strategies for boosting FMCG sales in 2023
Fast-moving consumer goods (FMCG) are products like food and drinks, hygiene and home products, and medicines within the consumer goods sector. They tend to be considered convenience goods and sell quickly in comparison to durable goods such as cars. FMCGs are found in a variety of outlets including convenience stores, supermarkets, and corner stores where they can sell quickly.
Products in this category need to appeal to people. Very often they are consumer products that are promoted based on functionality. As an entrepreneur, you face fierce competition for shelf space, meaning that it is vital for FMCG distributors to develop highly effective strategies when it comes to getting their products displayed and sold most prominently by retailers.
There are a lot of ways you can increase sales for FMCG products, or just get the ball rolling, but in this article, we’re going to focus on the three most important sales strategies for FMCG products that you as an FMCG sales manager need to implement right away to see results.
No matter what you're trying to sell, it's good to know your competition if you want to stay on the cutting edge. For example, suppose you're looking at distribution possibilities for a new brand of root beer and want to get into stores that already have five different varieties of root beer competing for space on their shelves.
We would encourage you not to pursue this location because it’s likely they already have something similar and plan their inventory around specific tastes and customer preferences in the area.
Before going all through with this strategy, however, it's vital that we understand why your competitors aren't present in this store or region; there may be a very good reason for this! What might seem like a great opportunity on the surface could actually turn out to be quite futile so let’s take things one step at a time before ruling out any possibilities here. A little more investigation is certainly warranted before making an additional visit.
Deploy your field teams and try to dig up as much as you can on your competition. Once you have a pretty good idea of the current market related to yourself and your product, not only can you begin assessing which are the best areas that would be profitable for your company, but you'll also need to come up with strong ways of how to make your product appealable enough to stand out among any competition.
When selling grocery products, one is often stuck when selling products to small store owners, who are understandably reluctant to purchase products they are worried may not sell. However, if you have a product that you are sure the store owner will enjoy, but after extensive negotiations, he or she refuses to buy in bulk.
One may offer them a compromise: They won't buy your product up-front because it's quite risky, but if it sells after being kept on the shelves for a period of time then they'll give you an agreed-upon cut. If it fails to sell however then it's your loss and not theirs! This is called consignment selling where distributors are at a disadvantage because they can lose thousands because of bad deals! Avoid consignment selling as much as you can. Ask your field sales teams to be wary of such compromises.
The stronger your relationships with store owners and managers, the more they will be willing to work with you. This is probably the most important piece of advice we can give when it comes to selling in stores because so many streetside shops don't have official franchises, and therefore the workers behind the counter don't really need to follow any set of rules or guidelines when it comes down to selling your products.
If they like you and trust you then they won't be afraid to adopt your product and push it in front of customers' faces in hopes that they'll buy it.
One of the many ways to win in the FMCG market is by making sure you follow the right principles through and through, making quick changes wherever needed, and taking note of what you can and cannot achieve. These three sales strategies will go a long way in helping build a good reputation for your brand, and over time, you will start to see the numbers go up and eventually explode out of proportion.
As businesses expand and operations grow more complex, managing field teams can be a daunting task. From managing tickets to scheduling jobs and everything in between, keeping track of everything can be time-consuming and inefficient.
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If you're looking for an end-to-end field team management solution that can help you manage tickets, schedule jobs, generate quotes and estimates, raise invoices, and collect payments while also providing customer feedback support, then Fieldproxy might be the solution for you.
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