Developing, launching, and getting your CPG product on the shelf is a significant achievement and investment. Having your product delisted quickly negates that. Though products can be delisted because of poor sales, it’s not the only reason you might lose your place on the shelf.
Using the right data will help your emerging CPG company avoid the common pitfalls that can derail growth and long-term success. Here are five ways to maintain your product’s value and placement within a retailers’ assortment:
#1. Identify retail partners that are the best match for your product
Retailers have varied shelf strategies to serve their diverse populations and prioritize distinct growth tracks. Having your product placed in the best possible retail environment can be the difference between delisting and continued success.
THE DATA YOU NEED: Create an index to identify the best retail stores for your product by using a combination of retail sales data, consumer panel data, store locations, and regional demographics.
#2. Outpace the competition
By monitoring and analyzing competitors’ performance, you can identify and avoid potential threats to prevent being delisted or outsold on the shelf.
THE DATA YOU NEED: Keep track of the sales volume, velocity, and distribution levels of competing products with syndicated RMS data.
#3. Accurately assess opportunities in your category or segment
To avoid delisting, your CPG product must have strong sales potential, and the category must have growth potential. Market sizing data can accurately determine category demand levels to support both.
THE DATA YOU NEED: Understand how your category performs with assortment modeling that looks at combined distribution, segment sales and trends data.
#4. Understand consumer sentiment and align your product’s positioning
Products that resonate with consumers and perform well remain on the shelf. Knowing how consumers feel about your products, and what motivates them to buy, can help you maintain your relevance and shelf position.
THE DATA YOU NEED: Consumer panels provide insight into shopping behaviors and motivations, while BASES innovation tools show how your products are perceived relative to the competition. This combined intelligence allows you to optimize your positioning and avoid delisting.
#5. Create a compelling pricing and promotion strategy
As key sales drivers of your product, effective pricing and promotions are your best defenses against being delisted. To ensure your promotions have the most impact and that your pricing is optimal, you need the ability to predict, test, and monitor any changes you make.
THE DATA YOU NEED: Improve pricing decisions, enhance the efficiency of trade spending, and ensure product availability by leveraging Revenue Management Optimization analytics.
How NielsenIQ can help your CPG company overcome pitfalls that lead to delisting
NielsenIQ helps emerging CPG manufacturers keep their products selling and on the shelf with Retail Management Services (RMS) sales data, panel-based consumer insights, revenue management optimization, and the BASES innovation and positioning platform. Learn how our tools can help your CPG company improve distribution levels, maximize retail sales volumes, and avoid delisting.