What Is a Category Review?
A category review is a meeting between a supplier and the retailer to go over reporting on the performance of a category. These meetings generally occur twice a year but may happen on a different schedule depending on the parties involved and their relationship. You may cover every category that your products are a part of, or they may be broken into separate reviews. You may also revue general business issues like changes in slotting fees or new initiatives the retailer is undertaking.
What Is the Purpose of a Category Review?
Category reviews allow retailers and suppliers to share information and strategically plan for the future. These meetings can uncover hidden gems, determine which products to cut, and help increase a supplier’s ownership of the shelf. It also helps build your relationship and ensures the partnership remains open and fruitful in the future.
There are two main reasons for category reviews to be scheduled. First, they may be preplanned meetings that occur bi-annually. These meetings go over the progress of products within the category. They help both parties make decisions about what product assortment to keep on shelves. Second, a supplier may choose to initiate the category review. This is to present retailers with some suggestions on how the category’s overall performance can be improved.
6 Top Tips to Impress During Category Reviews
Heading into a category review can be daunting, especially for SMB leaders who are just starting out. Luckily, there are a few things you can do to maximize your chances of impressing the retailer. Just remember, this meeting is between partners and your success means their success.
Here are the six best ways to ensure your next category review goes smoothly:
Go Into Category Review with Confidence
It’s a whole lot easier going into a category review with confidence when accessing up-to-date and accurate data. That’s why it’s vital to understand how CPG data can help your business grow and dedicate a budget to investing in a good data platform.
With Byzzer’s reporting solutions, you can have all the data you need at your fingertips. Reach out to our team, so we can help you build a customized paid plan with Byzzer. You can have this data and much more available for any need that may come up.