Big Lots Vendor – How to Sell to Big Lots Stores and Become a Big Lots Vendor
Transcript for this video listed below…
Hi Everyone, this is Karen Waksman, Founder of Retail MBA, and today I want to talk about a becoming a Big Lots Vendor. Now, the reason I decided to create this particular training is because I help tens of thousands of product companies across the globe on getting their products in retail chains. I love what I do, and people ask me about certain retailers, so I just like to support and give you answers and quick tips and strategies, and that’s what this video is all about. Let’s talk about Big Lots. Well, first of all, they have over 1,800 stores that they’re responsible for, which makes it a very massive retail chain, and they actually sell a lot of different products. The reason I like that is because it’s a mass appeal audience. They’re looking for products in every category and so forth, and because I work with so many of you, it does support in the … I deal with products, all sorts of products, and so forth.
Anyways, the thing about Big Lots is that people always think that they only sell overstocked items. What that basically means is deeply discounted products, excess inventory, and that type of thing, and they do. They sell a lot of those. Actually, it’s very, very common that you go into a Big Lots, and there’ll be some amazing deal for that particular store that literally won’t … Like the product will sell out in one day, so it’s really, really common for people to go into Big Lots and literally buy all of their products for that one particular day, because it’s just this one product, it’s a closeout item and so forth. They make a lot of money bringing in other national brands and so forth into their stores, excess inventory and so forth, dumping it in their stores, and then people buying that product because it’s a great deal.
That’s one way to sell to Big Lots. Definitely, if you have any overstocked items in the excess inventory, anything in large volume that you want to get rid of, Big Lots definitely wants to know about you, and they do have buyers and so forth who would be interested in learning more about your product. But a lot of people don’t know that they actually sell common, consistent products in their stores as well, so they don’t just sell overstocked products. If you have a product that you want to sell the retail chains, a lot of people don’t even think about getting their products into Big Lots. Again, they are looking for deals. Generally, they like the national brands and so forth, but they buy new stuff too, whatever their audience will be interested in, so definitely go take a look at a Big Lots, see what’s in store, see if your product can fit and so forth.
It could be a great opportunity for you, again, because they don’t … A misconception is that they only sell overstocked items, but they actually don’t. They sell consistent products as well. Again, the purpose of this video is just to get you to think about other retailers that you might not, never have thought of before. That’s why I create all these different videos. Again, Big Lots is great if you have a lot of volume, you want your products in stores and so forth, and you have a great price on this product, it’s a common mass appeal item, Big Lots would be definitely a retailer to consider, and/or obviously if you have some sell-out item, close out any excess inventory and stuff. I mean, you can go into the stores and dump product on them, and a lot of times they’ll take that product if it’s a great idea, it’s a great product and so forth. They buy on a national level. They tend to also buy regionally and so forth because of the fact that they do deal with closeouts in certain areas and so forth.
Anyways, if you want to know exactly how to pitch them, exactly what to say to them to get them to buy, take a look at my Retail MBA website, retailmba.com. I either have a free training program, which is really powerful. It’s a six-part training series on how to get into retail chains. All you got to do is add your email address there, or I have a full Retail MBA Training Program, 20 hours of content. In one weekend you can know exactly how to pitch a buyer, how to get them to buy, all the strategies you’ll ever know about retail, and you can start next week getting your products in retail stores. Either way, just take a look at the links below. It’s retailmba.com, and be on the lookout for the additional free videos that I create. Thanks so much. Hope this helped.