Exploring new nutrients and formulas is exciting. It’s one of the reasons why we all love this mission. It helps refresh and energize the store, presents another reason to learn something new, and most importantly, provides the perfect reason to share that knowledge with our customers and community.
But adding and promoting new products may create challenges for your store’s layout, merchandising strategy and training and event schedule, too. Folding in these new products with your current offerings, figuring out a promotional strategy for incoming supplements, and keeping enthusiasm for both the old and new is critical. So, it’s important to ask yourself a few questions about why you’re adding new products to your store’s lineup.
Reasons to Add New Products
I like to have a checklist of the reasons for adding any new product or brand to a store—why it makes the cut, the right way to let customers know about it, and how to educate my team on its most compelling attributes. And while there are many reasons to add new products, I’ve listed a few of the most common ones here.
Repeated Customer Requests: If, out of the blue, you see a specific nutrient featured in health headlines, social media and customer requests, it’s probably worth looking into.
Of course, adjusting or adding store stock based on what appears to be a flurry of interest requires some experience and careful discernment, too. Not every trending nutrient yields sustainable results in sales. This is a good reason to encourage your team to stay informed on emerging science as much as possible, and for you to be ready to add clinically validated products to your inventory when it looks like they will be the next big thing.
Compelling Research and Clinical Studies: Related to the first point, there are times when the right nutrient and the right story converge in popular culture, social media and medical reporting that practically demand that you carry it in your store. But again, it’s important to try as much as possible to distinguish between what’s trending and what’s lasting. I know that new research makes it really tempting to add new things into the store’s inventory, but this is where it pays to do some homework.
Sometimes what seems like a breakthrough is simply a short-lived fad. Nonetheless, staying informed about the latest research and nutrients from reputable sources will help you anticipate some of the demand and stock a new product in advance of the competition.
The best course is to check the research of any nutrient suddenly in the spotlight. Is this new product clinically studied? What is its place of origin? Will the vendor or manufacturer supply educational material that can clarify its benefits for your staff and your customers? Digging in to find the answers to those questions first can make the decision to add a new product much easier. If the new product is responsibly sourced, studied and supported by its manufacturer, there should be plenty of helpful information available from them to help you effectively promote it.
Personal Interest: Perhaps you’ve been involved in the creation of a new product or have a personal connection to a supplement that is about to emerge in the marketplace. Maybe there’s a new formulation available that combines nutrients that have worked extremely well for you or someone you love in the past, and you want to share that success with your customers. As I’ve mentioned, one of the reasons that we have chosen a path in natural health is because it is a labor of love. I know that I’ve selected and formulated many supplements in the past simply because their efficacy and their story is compelling. If a product that is new to your store, but a favorite in your life, can be added to your store, it’s completely understandable that you’ll want to give it some shelf space. It should sell briskly because it’s a foregone conclusion that you’ll give it a lot of attention.
Important Points to Remember Before Bringing in a New Product: Any time your customers look up something online, whether it’s a new supplement, a popular nutrient, a diet trend or a health concern, their preferences are being tracked. That’s nothing new. But it does mean that the algorithms that respond to their searches will keep adapting to suit their apparent preferences. Understandably, that gives your customers a sense of abundance but can also overwhelm their abilities to make decisions. With so many product options available online, for example, how do they choose? And whose advice do they believe?
This is where your long-standing relationships and reputation are most useful. You can steer them to helpful choices that enhance their lives rather than leaving them to wade through the flood of information they get through web searches. So, when you add new products to your store, you are giving those choices legitimacy, simply by stocking them. That endorsement alone will go a long way with your long-time customers. But making every effort to make those new additions successful requires effort. So, there’s a few extra things to keep in mind and add to the to-do list of adding new products.
Consider Shelf Space or Store Modifications: Aside from the cost of purchasing more items to stock, you’ll need to set aside more in your budget to cover other matters of overhead. For instance, you may already have refrigeration for your probiotic selection, but if you add more and also carry perishable foods, you may need more space. This will add to your expenses, as will the increased energy usage. So, keep all of those considerations in mind beforehand so that you’re ready to handle any unforeseen circumstances, such as adding or building different shelving, changing the aisle arrangements, or any of the other challenges that pop up during the process.
Educate Your Team and Your Customer: If the manufacturer has educational brochures, nutrient-related videos, summaries of the science behind their supplements and guest speakers available, make use of all of them.
Promote Intensively: Promote new products through every channel you have. Aside from local radio shows and print opportunities, there’s no way of getting around the need for a strong online presence in the market today. That’s because there is no better way to let customers know about your latest product promotions, special store events, and for keeping connected to your community, near and far.
Your online connections with your customers and a robust social media presence are critical, but you have to be fearless and committed in order for that aspect of your business to thrive and be effective, especially when you’re adding new products and hosting frequent events.
Staying active online regularly, posting often and updating your site and social media messages also trains customers to continually check back to see what’s new. And that’s especially important when you’re adding new products to your store and the science behind them. In any case, investing in a strong online and social media presence helps generate excitement and should absolutely be part of your ongoing marketing plan, and the first place you announce any news about your business.
Make it an Event: If you’re already making an investment in new products, you might as well celebrate it with a store event. After all, that’s part of what makes going to a physical store so satisfying. Events generate excitement and keep your store relevant in an era of so many choices available online. We saw that after the pandemic restrictions ended, that people wanted to shop in brick-and-mortar stores again and experience the personal touch when it comes to their favorite destinations, including their favorite retailers. Adding new products and then crafting special presentations and sales around them fosters interest in your store and helps solidify your reputation as a local expert.
If you have a guest expert on a new product as a featured speaker, see if they can arrive a little early to give your staff an overview first, and address questions that are likely to be asked by attendees and potential customers.
Your Store’s Selection Reflects Your Passion
One of the benefits of adding new products is that it keeps your store and your perspective fresh. It shows that you are tuned in to the leading research and are aware of what science and society is seeking in natural health. For new shoppers, it shows that you are paying attention, and for long-time customers, it reflects the interest you’ve always shown in this field and the passion and trustworthy experience you and your team offer each day.VR
A highly regarded leader in the natural products industry, Terry Lemerond is founder and president of EuroPharma, Inc. He also founded Enzymatic Therapy, Inc. and PhytoPharmica, Inc. and is currently co-owner of the Terry Naturally Health Food Stores in Green Bay & Suamico, WI, which recently won its eighth consecutive consumer choice award as “Best of the Bay.” With more than 50 years in the natural products industry, Lemerond has researched and developed more than 400 nutritional and botanical formulations that continue to be top-selling products in the market. Lemerond shares his wealth of experience and knowledge in health and nutrition through his educational programs, including a weekly radio show and newsletter, podcasts, webinars and personal speaking engagements. He is author of 13 books, including Seven Keys to Vibrant Health, Seven Keys to Unlimited Personal Achievement and 50+ Natural Health Secrets.
