{"id":11575,"date":"2022-09-22T08:00:00","date_gmt":"2022-09-22T16:00:00","guid":{"rendered":"https:\/\/www.rangeme.com\/blog\/?p=11575"},"modified":"2022-09-26T08:29:31","modified_gmt":"2022-09-26T16:29:31","slug":"how-to-increase-sales-during-a-recession","status":"publish","type":"post","link":"https:\/\/www.rangeme.com\/blog\/how-to-increase-sales-during-a-recession\/","title":{"rendered":"How To Increase Sales During A Recession"},"content":{"rendered":"\n

Each day, I hear food founders ask things like, \u201cIf we\u2019re headed into a recession, how can I possibly make it work with my CPG brand?\u201d or, \u201cIs anyone having success raising money right now?\u201d or \u201cMy products are already<\/em> expensive – how am I going to navigate price increases on top of this?\u201d Sound familiar? <\/p>\n\n\n\n

I\u2019ve got good news and bad news: the good news is that we\u2019re seeing some CPG founders inside of Retail Ready\u00ae<\/a> have higher sales than ever before, secure funding this quarter (one of our students, Diaspora Spice Co., just raised $2.1M in Q3!), and continue to land regional and national placements in natural, conventional, and foodservice channels. You can do this too, <\/em>despite what you\u2019ve heard about slow sales, shifts in consumer spending, and challenges on the retail shelf.<\/p>\n\n\n\n

The bad news: YOU have to take full responsibility for your success – for landing those wholesale accounts and increasing your velocity in your new and existing accounts. It\u2019s not your broker\u2019s, your distributor\u2019s, or the retailer\u2019s responsibility to drive sales for your brand. It\u2019s on you<\/em> – and this article will help you shift your thinking and increase your velocity regardless of the current economic climate (want to hear even more on how you take full responsibility? Watch RangeMe\u2019s webinar \u201cHow To Increase Your Chances of Reorders\u201d where I share some helpful tips here<\/a>)!<\/p>\n\n\n\n

How do you do it? By choosing the right channels, being creative with how you partner with your wholesale accounts, and doubling down on what\u2019s working. Let\u2019s dig deeper:<\/p>\n\n\n\n

Choosing the right channels<\/strong><\/h2>\n\n\n\n

The Retail Ready\u00ae brands that are increasing sales in 2022 are the ones who have reassessed their sales channels and determined which are the most lucrative for their product lines. Things may have shifted over the past few months or years for your brand as consumer behavior continues to change in this stage of the pandemic, and if you haven\u2019t assessed your ROI in each of your channels, it\u2019s time to take a look. Revisit the basics: who is your target audience, what problem are you solving for them, and where<\/em> are they currently looking for your solution? <\/p>\n\n\n\n

For example, if you\u2019re selling single-serve packets of immunity-boosting powdered drink mixes, where is your audience looking for a quick hit for their immune system in a convenient, portable form? Perhaps you\u2019re finding success in airports and travel-focused accounts, or are flying out of office canteens as employers are stocking their breakrooms with healthy choices for their in-office teams, or your 30-day subscription pack has an exceptional retention rate with your direct consumers. Get in front of your consumers where they\u2019re currently looking for your products<\/em> instead of trying to reshape consumer behavior (which is very costly and time-consuming for emerging brands!).<\/p>\n\n\n\n

Get creative in your partnerships<\/strong><\/h2>\n\n\n\n

Remember, when you\u2019re stuck on the belief that once you get on the shelf it\u2019s everyone else\u2019s job to sell your product, you\u2019re eroding those retail relationships, letting your sales stagnate, and are on the path to being discontinued. Instead, take full responsibility for your velocity, recognizing that your wholesale relationships are just that: relationships. When you show up as a partner, ready to take responsibility for your success, you gain the trust of those who can<\/em> support you: your co-packer, your broker, your distributor, your merchandising team, and your wholesale buyers.<\/p>\n\n\n\n

What does it look like to take full responsibility here? You analyze and shift your sales strategy to meet the wholesale partner where they are right now. That might include things like: <\/p>\n\n\n\n