“I've worked with many other consulting firms and Edgewood's insights & analysis are first rate. But where Edgewood really distinguishes themselves from the rest is the support they provide to the retailer. They take a hands-on approach with us as a true partner, even going with us to make the account calls and the results are outstanding!” – Steve Johnson
New Markets / Channels
Most CPG companies are aligned to meet the needs of traditional retail outlets – Food, Drug and Mass Merchandisers. However, some of the fastest growing outlets are in alternative channels including Warehouse Club stores, Dollar outlets, Home Improvement, Specialty outlets and on-line retailing. Best Practice manufacturers tailor insights, strategies, and tactics to the unique shopper needs of each channel/retailer for maximum incremental results as part of their integrated channel strategy.
Edgewood Consulting has extensive experience in helping clients effectively enter new markets and channels. We take a fact-based, strategic approach to develop go-to-market strategies, identify the resources necessary to capture them, prioritize across outlets and determine an optimal organizational structure.
Our work in new markets includes Food and OTC engagements across the globe, from China and Russia to Canada and Mexico. For new channels, we have worked with Manufacturers and Retailers in Warehouse Club outlets, Dollars stores and Specialty retailers across multiple categories as well as online ventures.
Securing incremental sales is typically the most significant benefit of pursuing new markets and channels. However, manufacturers also need to critically evaluate both the absolute and opportunity cost associated with these opportunities.
Insights – Our client wanted to penetrate an underserved channel to maximize opportunities against a large and growing ethnic shopper target. Edgewood Consulting was called in to conduct retail audits, trade channel discovery, secondary and primary consumer research to uncover new insights about where they shop, what they buy, and why? This process revealed several hidden truths as well as myths about these shoppers and their attitudes. Fleshing out these truths and in the process separating myth from reality set retailers on a more productive and profitable path to enlightenment and best practice results.
Innovation – Edgewood Consulting discovered even greater channel opportunities that, combined with the original scope, made the total size of the prize nearly three times larger!
Implementation – Edgewood Consulting developed and tailored go to market strategies uniquely to each route to market to maximize results with supply chain, retailers and ultimately consumers. Programs included push strategies through the various distribution channels, as well as pull strategies activated direct to consumer. Test market results drove significant growth for retailers and category sufficient to warrant a broader expansion to other markets and targets nationally.