Stock Box launched the first Australian product sample box to over 700 registered members on 24 November. With a selection of 10 products from companies such as Bayer, Slim Nation, Go Natural and SPC Ardmona, retailers for the first time were able to trial and test products and provide feedback, which will assist suppliers to better target their marketing efforts.
Above: A look inside the first Stock Box
Here’s a sample of retailer comments that have been received by Stock Box:
“This is a great idea as now there are products that I hadn’t heard of that I can access from my suppliers. Thank you!”
“I thought the box was great and the staff have enjoyed being a part of it as well. I wouldn’t change a thing.”
“It gives us a chance to sample some of what is available so that is good. We usually order the tried and true and reorder without looking further. Stock Box will introduce us to some new possibilities.”
Stock Box is an innovation in the industry, introducing more products to more potential buyers in a matter of weeks (not months) and for a fraction of the cost of a dedicated field force.
According to Stock Box Managing Director, Craig Matthews, “We could not have asked for a better result for our first box with a great selection of partner products and services, which was well received by our registered members. From our retailer feedback on all the products presented in the first Stock Box, 52% of respondents indicated that they were not aware of these products, which highlights that in the largest segment of the convenience channel, suppliers marketing efforts are not cutting through”.
Stock Box is not just for independent operators, as it can also work as a third party category manager for banners and groups. “It is in everybody’s interest to foster better insights on new products, and so for those banners and groups who endorse Stock Box to their members, all insight information on every product going through the box is shared with the head office at no cost. This is the Stock Box commitment,” Mr Matthews said.
Mr Matthews, told C&I WEEK that in addition to the positive overall retailer response, Stock Box will now commence collating retailer feedback on specific products and this feedback will be provided to participating suppliers keen to hear how their products have been perceived by switched-on convenience retailers. “Stock Box is like a litmus test for suppliers – they can very quickly get an indication of the suitability and demand for their product within the channel. While many suppliers are using Stock Box to generate excitement around their product and generating orders, the worth of the retailer feedback that we are now collating provides each supplier with invaluable insight.”
Ready to leave the warehouse – the first batch of Stock Box was delivered to convenience retailers in the week commencing 24 November
The next Stock Box for the convenience channel is scheduled for delivery in February 2015 and suppliers are already lining up for a spot in the box. Following this, in April 2015, Stock Box will start servicing the Newsagent channel with a channel-specific product sample box.
For more information on how you can get involved contact Craig at:Craig.ma@mystockbox.com.au or telephone 0407467670.