29 May, 2023

Ifac unveils its guide to retail for food and drink SMEs

Our Food & Agribusiness team have developed a guide to retail for owners, CEOs, and commercial managers of food and drink SMEs to help them position their businesses for success.

The ‘Cracking The Retail Code’ guide provides food and drinks producers with practical knowledge, insights and tools to help create successful products, and it highlights what retailers look for from new products.

It answers some of the key questions that are top of mind for food and drink entrepreneurs. These include how to pitch to a retailer, how to negotiate, what information you should have correct when creating a new product, how to choose between own brand and private label, the right retailer for your business, and how to navigate contracts and the different types. The guide also features an insightful interview with a global retail specialist from Bord Bia. 

Through the guide, food and drinks business operators can expect to learn more about key retail areas including: 

  • Product categories and sources of data that can provide producers with valuable information

  • Understanding your category and competitor landscape, so you know where to focus your efforts to secure the right listing with a retailer

  • The questions to ask yourself and steps to take before creating a new product

  • Establishing your brand 

  • Route to market and choosing the right retailer to support the growth of your product.

In addition, ifac’s award-winning advisory team is hosting a retail-focused webinar later this month to share their expertise and provide additional context to the insights shared in the guide. This will also feature Irish producers Dough Bros and Killowen Yoghurts – Irish food brands that recognise the opportunity that retail presents for future growth. 

David Leydon, Head of Food and Agribusiness at ifac said:

“The overall aim of this guide is to support food and drink entrepreneurs and help them to position their business for success – by adopting a buyer’s mindset and anticipating their needs, producers can establish mutually beneficial relationships with retailers.

“This is a sector we are proud to be involved in. In recent years, we have invested in building an advisory team to work closely with food business owners. Our team includes experts like Lorcan Bannon, who has worked with Pernod Ricard (Jameson & Absolut), and Stephanie Walsh, who brings invaluable experience as a former senior buyer with Lidl Ireland & Northern Ireland. Along with our accountancy, audit, tax, payroll, and corporate finance expertise, we are the perfect partner for Irish food and drink businesses looking to grow and scale sustainably.”

The ifac retail guide webinar will take place on Thursday, 15th June from 2 – 3 pm. Interested food and drink entrepreneurs can register their interest to attend below.