In this short video training, we will explore the mistakes to avoid when learning how to sell products in retail. This is a question that often comes up in my workshops and classes, at Retail MBA. Many individuals are excited to understand how to approach chain stores and successfully place their products on store shelves. However before we get into that topic lets first discuss the actions you should steer clear of.
The Common Error
When it comes to selling to chain stores most product companies tend to make the mistake; they directly contact the desk of the store like Bed Bath & Beyond expressing their interest in selling their product there. Although this may appear as an step it is not the most effective approach.
The Vendor Department
Upon contacting the desk you will be directed towards the vendor department. This dedicated department handles all vendor requests and inquiries. They might ask you to complete forms regarding your company and provide information. However here lies an issue with following this protocol; everyone else is doing the thing. The vendor department receives a number of submissions making it challenging for your submission to stand out from the competition. Additionally response times can be quite lengthy – up, to a year.
A Quicker Approach
A quicker approach of following the usual protocol and submitting your information to the vendor department there are alternative methods that can lead to faster results. It’s worth noting that you don’t have to endure months or even years of waiting to receive a response, from the chain store. Here are some suggestions;
Directly Contact the Buyer
One way to get your product into a chain store is by directly reaching out to the buyer. In my program at Retail MBA I offer guidance on how to identify the buyers name and contact details. By presenting your product to the buyer you can enhance your chances of receiving a response and potentially securing a deal.
By connecting with the buyer you can bypass the lengthy waiting period associated with submitting information through the vendor department. While its true that some chain stores have improved their response times in years it can still be frustrating and exhausting. Contacting the buyer enables you to obtain answers and make progress with your product.
Set Yourself Apart
When reaching out to the buyer it’s crucial to distinguish yourself from competitors. Emphasize the features and benefits of your product while explaining why it would be a fit, for their store.
To demonstrate your understanding of the target market and showcase your research it’s crucial to make an impression, on the buyer. Of following the procedure of submitting information through the vendor department consider directly contacting the buyer. This approach helps you avoid delays and increases your chances of receiving a response. It’s important to highlight the features of your product and emphasize your knowledge about the stores target market in order to stand out from competitors. If you’d like to explore this topic visit retailmba.com. Check out my additional videos on this subject. I sincerely wish you success, in your endeavor to get your product into a chain store!
Transcript Outline for How to Sell Retail Correctly!
Hello everyone Karen Waksman here the founder of Retail MBA. Today. I want to address a commonly asked question during my workshops and classes: How can I secure placement for my product in a chain store?
However before we dive into that topic lets’ first discuss what you shouldn’t do as it is actually a more important question to begin with. When companies have an outstanding new product. Their initial inclination is often to approach a major chain store such as Bed Bath & Beyond. They make contact with the front desk and express their desire to stock their product in store. At first glance this seems like a logical step to take doesn’t it?
Unfortunately what typically ensues is redirection to the vendor department tasked with handling vendor requests and inquiries. At this point. They are usually provided with access to a section on the stores’ website or given a phone number for further communication. The vendor department necessitates the completion of specific forms about your company; moreover. These forms often feature detailed questions. Some chain stores even employ extensive forms that require significant information.
This poses a challenge: When you follow this protocol and submit your information to the vendor department. You become just another submission among thousands of others. How can you set yourself apart from this ocean of applicants?
Additionally obtaining prompt feedback becomes crucial in order to discern any interest from the chain store; waiting several months or even up to a year for responses is not ideal by any means. Instead of purely adhering to standard procedures. There are other viable options that facilitate quicker product placement in stores.
Many individuals are unaware of such alternatives and simply assume they must go through the usual route involving the vendor department; however it is essential knowledge that faster outcomes can be achieved by bypassing this process altogether. Heres my recommendation: Avoid rigidly sticking to protocol! Directly contacting the buyer responsible for making purchasing decisions at these chain stores is key. And its important to know how you can effectively find buyers’ names and contact information along with efficient pitching techniques.
How to Sell in Retail
Keep in mind that there are alternatives beyond involving the vendor department relying heavily on them may not always yield desired results so contacting buyers directly can truly be a game-changer; a strategy worth considering. It is crucial that I emphasize the highly recommended course of action which is following my program if one intends on maximizing their chances of success. Retail MBA proudly provides comprehensive training as well as guidance instructing individuals on how best they can approach, pitch, and ultimately seal deals with retail chains adding real value by imparting knowledge of effective strategies and techniques essential for navigating this unique landscape succinctly revealing ways thus ensuring one accomplishes their set goals successfully.
If expanding your understanding intrigues you please visit our website at retailmba.com where detailed information regarding our services await whilst complemented by supplementary videos available concerning said matter all created with utmost dedication aiming towards an overall enhanced experience.
Before concluding- know that it’s only fitting ending by genuinely wishing each viewer nothing short of triumph accompanied by profound pleasure provided through this insightful piece of information having immense potential when applied properly; thank you for watching and remember great content from Retail MBA is soon to follow.
Check Out More Retail MBA Blog Posts Here:
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Office Depot Vendor – How to Sell to Office Depot and Become a Office Depot Vendor! Click Here to Learn More!
Hudson’s Bay Vendor – How to Sell on Hudson’s Bay and Become a Hudson’s Bay Vendor!
Step-by-step training on how to sell to major retailers
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In this training, I will discuss some of the things to think about when approaching a retailer to sell your products and become a vendor. Hope it helps! 🙂
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