From the Entrepreneur’s Perspective: Why is it helpful to follow the financial performance and read the annual reports of publicly traded retailers like Walmart, Target, and Walgreens?

Being informed of what is happening amongst your retailers, or the retailers you wish to do business with, allows you to communicate most effectively with your buyer. The better prepared you are to help the buyer meet his/her objectives, the more confidence the buyer will have in you.

Your sales pitch, marketing plan, pricing, packaging, etc. should all be in alignment with the objectives that your buyer is trying to achieve. It’s about establishing a relationship from the onset that builds trust. Helping the buyer to achieve his/her higher level priorities makes you a partner and an ally – just what you need and want in order to do business with the retailer. Besides staying current via annual reports, follow industry appropriate publications such as Drug Store News that offer a free daily newsletter.

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