August 12, 2018
Talk the Talk – Grocery Retail Terms You Should Know
There is a whole lot of learning to do when growing your brand through grocery sales.
Successful brands know that there are common and not-so-common terms, specific to the grocery retail industry. Speaking a common language is essential to developing effective relationships and processes with distributors, wholesalers and retailers. As your brand begins to expand its shelf presence, having fluency in grocery trading lingo can accelerate your business relationships by leaps and bounds.
When you start out selling your product in a couple of local stores, the initial words you become familiar with and need to know include wholesale price, sell sheet, and MSRP. But, as you grow, the lingo doubles ¬ if not triples. For example: TI x HI, TPR, Off-Invoice, Scan-down, case-pack, inner-pack, UPC, LTL, bridge buying, shipper, FOB and the list continues. Before you approach more retailers, learn and become well-versed in grocery retail vocabulary.
Download the Grocery Retail Vocabulary for Emerging Brands to learn common grocery retail terms that you and your team will need to better acquaint yourself with to move forward. Being well-versed in these will help your company successfully maneuver as you seek increased grocery retail distribution.
Dive in to the first FMI Emerge Lesson for free! https://www.moreshelfspace.org/the-fundamentals-of-success-in-food-retail/preparing-for-grocery-retail/