Major “Big Box” retailers (Wal-Mart, Kmart, Target, etc.) have reduced 18,000 SKU’s over the past year.
Walgreen’s has reduced shelf space of retail products by 30%
Buyers are looking to manufacturers to secure a strong E-Commerce and Social Media presence prior to purchasing.
Traditional budgets for a NATIONAL product launch cost between $500,000 up to $750,000
Buyers, like everyone else in today’s economy, are concerned for their jobs. Hence, prior to considering purchases, they require a national media presence of the product. They are looking to the manufacturer to create product awareness that will drive traffic to their stores before purchasing and marketing any new products.