As a retailer, you’re often faced with a tough decision—should you stock that new CPG brand that’s making waves in the market? The promise of fresh, trending products can be tempting, but before jumping in, it's important to evaluate whether it’s a good fit for your store. Let’s break it down together. A helpful tool to simplify your search? Cohere Commerce.
How can you use Cohere Commerce to ensure you're making the right decisions?
What’s the Big Deal About CPG Brands?
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CPG brands, ranging from household products to snacks, are a staple in the retail world. Consumers are constantly looking for the next big thing. But with so many options out there, deciding which brand to invest in can feel like a guessing game.
4 Key Questions to Ask Yourself
Before adding a new brand to your shelves, ask yourself these questions:
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1. Does It Align with Your Customers?
Think about your target audience. Is this brand something they’d love? A great fit for your customer base means higher sales and loyalty.
- Who are your typical shoppers?
- Does this brand cater to their needs?
- Is it a match for your store’s vibe or niche?
At Cohere Commerce, you can easily track what’s hot, find eco-friendly products, discover AAPI-owned brands, and much more—all with just a click.
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2. What’s the Brand’s Reputation?
A brand with a solid reputation can boost your store’s credibility. Research customer reviews and get feedback from other retailers to understand how the brand performs in other locations.
- Check online reviews or ask for references.
- Has the brand been consistent in quality and delivery?
- Are they known for customer service and reliability?
Search a particular brand and see how it’s performing in shops—it’s as easy as 1, 2, 3! You’ll get access to reviews from verified retailers, brand ratings, and recommendations, all in one place.
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3. How’s the Profit Margin?
Not every brand will bring in a high profit, even if it’s trendy. Be sure the potential profit makes the investment worthwhile.
- What’s the cost vs. retail price?
- Are there promotional or volume discounts?
- Will it generate repeat purchases?
Curious about a brand's estimated sales and how much they’ve been earning? Just head to the Metrics tab and explore all the details!
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4. Can You Trust the Supply Chain?
A brand’s supply chain efficiency is critical. Delays, stockouts, and unreliable delivery can be a nightmare for retailers. Make sure you’re confident that they can deliver on time, consistently.
- Do they have a reliable delivery schedule?
- What’s the average lead time on stock replenishment?
- Are their logistics transparent and dependable?
The Reviews Insights also show if the brand is rated highly for shipping, customer support, and in-stock availability. No need to sift through all the reviews—everything you need is right there!
The Joy of Offering Something New
While these questions might seem heavy, don’t forget the joy of offering exciting new products. The right CPG brand can drive foot traffic, spark conversations, and boost your store’s appeal. Wondering where to find them? Visit Cohere Commerce today!
Final Thoughts: The Balanced Approach
The decision to stock a new CPG brand doesn't have to be a dilemma. By doing your research, understanding your customers, and evaluating the brand’s reliability, you can confidently make the right choice. And when you get it right? You’ll be the go-to spot for the latest, greatest products. Happy stocking!