EUROPEAN RETAIL CHECKLIST
Breaking into the European retail market requires careful planning. From regional customization to certifications and strategic pricing, every detail matters to avoid issues like gray imports. Our European Retail Checklist is your essential guide to navigating these challenges and establishing a strong market presence. Ready to succeed? Start with the checklist!
Navigating the Complexities of Entering the European Retail Market
Entering the European retail market can be a complex endeavor due to the region’s diverse and decentralized nature. It is crucial to address key considerations such as regional customization, certifications, pricing framework, POS display guidelines, and fast-track access to decision-makers.
Failing to address these factors can result in challenges such as gray imports and price dumping, which can severely impact a brand’s reputation. In this diverse market, careful planning and attention to detail are essential to navigate the complexities and establish a strong foothold in European online and offline retail.
Are You Ready to Enter
European Omnichannel
Retail? This is Your
Checklist:
Regional Customization of Listing Data and Content:
Ensure that your product listings and content are tailored to the specific regions and markets you are targeting within Europe. This includes adapting language, currency, and cultural nuances to effectively connect with local customers.
Certifications for Selling in Omnichannel Retail:
Obtain the necessary certifications and compliance requirements to sell your products in physical retail locations. This may involve meeting specific regulations and standards set by each region for the product and packaging. For example: CE certificate including WEEE, REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals), Manual specifics, or Declaration of Conformity (RED, Rohs, ERP).
Establish a Pricing Framework with All Stakeholders:
Work closely with your distributor and retailers to establish a pricing structure that ensures market stability. Consider factors such as production costs, margins, and competitive pricing to find a balance that benefits all parties involved. The right distributor already has contracts with your targeted retail partners; however, it is usually not their main focus to build up your brand.
POS & Channel Marketing Material:
Research and prepare the ideal point-of-sale (POS) material, considering the right display sizes for each retailer, proven types for material, and set-up. This will help maximize product visibility and impact at the store level, leading to increased sales and brand exposure. For market entry, especially in competitive or new product categories, the effect on sales through channel marketing must not be underestimated.
Fast-Track Access to Key Decision-Makers:
Develop a streamlined approach, particularly through key-account management, to reach the important decision-makers within retailers. Building relationships with these individuals can significantly expedite the process and open doors for potential partnerships. The decision-makers and opinion leaders are not only found at HQ but can also be regional managers.
