Getting on the Retail Shelf - Farmers Market New Product Launch
Getting on the shelf is the most difficult part of a Food & Beverage business. How to market your product to the retail buyer requires a compelling sales pitch (some people call it an elevator pitch). The sales pitch can be daunting for new and seasoned food entrepreneurs. The sales pitch is more than a PowerPoint presentation. So how can you bypass this step? Try a farmers market.
Why Farmers Markets
Inexpensive Up-Front Investment
They are inexpensive to enter, no more than a few hundred dollars at most. You just need a table and a pop-up tent.
Great New Product Launch Platform
A great venue for high niche products that may be difficult to convince a store to take on and give you retail shelf space. Products that command a premium price over the competition can be launched at farmers markets to test the waters with consumers. Your are also not directly competing with like products so there is no way to do direct price comparisons as is possible in the supermarket.
Direct Consumer Feedback
No buyers or distributors to get in the middle. You get immediate feedback on the product type, packaging and if you do any sampling, the taste and flavor as well.
You can make changes to your product quickly with the consumer feedback received at the farmers market. All new products will go through some form of change as they evolve. Farmers Markets allow you to quickly test your food product with the consumer, get feedback and take that feedback to make necessary product changes. Once you make the changes, you can test them again at your next farmers market.
Get Ready for the Retail Buyer Pitch
Selling at farmers markets creates a level of self confidence in you, the food entrepreneur, to better prepare you for your first retail buyer presentation. Consumers are more forgiving if you don't know everything or make a mistake. Taking what you learn from the customer and incorporating that into your retail buyer pitch makes your pitch all the more credible.