How to Price a Product for Retail

In “How to Price a Product for Retail” you’re going to discover what retailers really want when it comes to pricing. Your retail pricing strategy should be focussed on what the retailer wants and needs and not simply what you want. So “How to Price a Product for Retail” explores 5 key retailer wants that will make all the difference to your product pricing and your retail pricing strategies.

Increasing your retail sales is a lot easier when you have your product pricing strategy right for both you and the retailer. Product pricing that is too low means you will not make enough profit to survive. Product pricing that is too high means that you may not even get a listing.

Knowing what retailers want will help you determine how to price a product. We take you through lots of tips making pricing retail products for your ideal retail partner that much easier.

In “How to Price a Product for Retail” we touch on various pricing strategies in retail as well as many of the metrics that retail buyers are personally measured on. What do retailers want are often guided by how the retailer assesses its buyers. Understanding this will guide you on how to price a product for profit.

Think about how you are able to help the retailer gain new customers and keep those customers and how to help the retailer attract customers to their store thus increasing their footfall.

The more relevant your product to the retailer’s store, the more they will want it and therefore pay for it. Think through the value of your product to each retailer you want to approach while help set your retail pricing.

Focus on delivering value to the retailer as well as keeping enough benefit for you. Both are needed to increase your sales over the long term.

00:00 Intro
01:58 What do retailers want? To make money
03:11 What do retailers want? People in their stores
04:35 What do retailers want? Loyal and new customers
05:30 What do retail buyers want? To meet and exceed targets
06:21 What do retailers want? Integrity
07:00 Real Life Example
07:47 In Summary

There are many different product pricing methods, take a look as our previous videos to explore the key pricing strategies for new products. This will give you a head start of how to price a product.

Other videos you will find useful:
Selling Through Retail or Direct to Consumer    • Selling Through Retail or Direct to C...  
Pricing Strategy - 4 reasons to have one    • Pricing Strategy - 4 reasons to have one  
Competitor Pricing Strategy    • Competitive Pricing – Product Pricing...  

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