How brands can prepare a successful product line review

Product line reviews are an opportunity for a brand to rise above the competition to gain an edge in retailer relationships.

By providing data-driven insights, you enable your retail partners to make more informed decisions about your product line and their inventory. This strategy can both add value to your partnership and strengthen your relationship.

Read on to learn how to prepare for successful line reviews by gathering key data, providing relevant insights and ultimately building stronger collaborative relationships.

Expectations: What do retailers want from a line review?

Retailers have specific expectations when it comes to line reviews, typically including detailed presentations for the next season of products showcasing:

• Comprehensive product knowledge: In-depth understanding of the products, including product features, benefits, differentiators and pricing strategies.
• Profit margin analysis: Manufacturer/supplier costs of goods and the suggested MSRP for consumers.
• Clear data and insights: Overview and evidence of market trends, consumer demand and sales performance.
• Solutions to potential issues: Prepared answers if there are known challenges, such as supply chain disruptions or product performance concerns.
• Understanding of retailer goals: Alignment with retailer objectives such as increasing sales, improving customer satisfaction or optimizing inventory.

Info gathering: What kind of data do you need?

The relevant data you provide can help make a compelling case for retailers to carry your products. Types of data to gather may include:

• Sales data and performance metrics: History of product performance, highlighting top-selling items and growth trends.
• Market trends and competitive analysis: Insights into market trends and how your products stack up against competitors, including retailer marketing plans.
• Inventory and supply chain data: Stats about your ability to meet demand and manage inventory.

If you’re using predictive analytics solutions, you may have access to more key insights, such as sales performance data of current products in specific locations or across trading partners.

Dive into the data: relevant and actionable insights

The key to a successful, strategic line review is interpreting data to generate meaningful insights. Examples of actionable insights include:

• Identify top-performing products: Highlight products that have consistently sold well and explain why they are successful.
• Compare performance across channels: Note if products performed differently at other retailers, sales channels or by region, including top sellers they don’t yet carry.
• Highlight emerging trends: Point out new trends in the market and how your products are positioned to capitalize on them.
• Suggest inventory adjustments: Recommend changes to inventory levels based on sales trends and forecasts.
• Propose marketing strategies: Suggest promotional campaigns or marketing strategies to boost product visibility and sales.

Leveraging data-driven insights enabled licensed imagery apparel company Image One to substantially boost their value and increase the breadth of their product line with trading partners.

Strengthen connections: build your relationships

By providing more value to your trading partners, you can increase engagement, strengthen collaboration and enjoy mutual success. Strengthen your connections with:

• Regular communication: Keep retailers updated on product developments, sales performance and any potential issues.
• Transparency: Be open about challenges and work together to find solutions.
• Flexibility and responsiveness: Be ready to adapt to the retailer’s needs and respond promptly to their requests.

Continue success: collaborate and grow

Preparing for a successful line review requires a data-driven approach, relevant insights and a focus on building collaborative relationships.

By understanding retailer expectations, leveraging data and providing actionable insights, suppliers can turn line reviews into opportunities for growth and success.

SPS Commerce is ready to support you with the tools and expertise needed to not only simplify your day-to-day operations but unleash the power of data insights and grow your business.

To learn more about how to improve your business processes and drive your business success, contact us to begin the process.

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Lindsey Merchant

Product Marketing Manager at SPS Commerce

Lindsey is a Sr. Product Marketing Manager at SPS Commerce, responsible for driving the Fulfillment GTM Strategy. With 20 years of experience in retail and marketing, Lindsey takes a customer-first approach to helping Suppliers discover the value of the SPS and the Fulfillment solution.

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