Do you have a product perfect for chain stores and want to know what matters most to retail buyers? Karen Waksman, founder of Retail MBA reveals 5 tips and strategies to help you get started today!
Are you looking to get your product into the big box retail chains? If so, you need to understand what matters most to buyers at a chain store. Karen Waksman, founder of Retail MBA, has been teaching people how to do this for over 13 years and has personally sold millions of units of products to the world’s largest retailers. In this training, Karen shares her insights on what matters most to buyers and how to make sure your product stands out.
How to Sell Wholesale to Retailers
Karen Waksman is the founder of Retail MBA, a company that teaches people how to get their products into the big box retail chains. She has taught over a hundred thousand people on how to do this and has personally sold millions of units of products to the world’s largest retailers.
What Matters Most to Buyers?
When reaching out to buyers, there are six things to keep in mind:
- Purchasing agents have money to buy products on the spot. Make sure your product is ready to go and all the packaging, pricing, etc. is taken care of.
- Walk the store shelves and see where your product would fit. Different buyers are responsible for different sections of the store.
- Think about how your product could enhance the buyer’s life. Is there a better version of something they’re selling? Can you offer a bonus product?
- Think about the audience the buyer is targeting. Can you switch up your packaging to target a different audience?
- Look for impulse buys. Is there a small product that would fit around the counter area?
- Think outside the box. Can you sell your product in a different section of the store?
Strategy is Key
Karen shares a great example of how strategy can make a difference. She had a customer who was selling cosmetics, but everyone was selling the same product. She realized that her customers who were active (athletes, menopausal women, etc.) really liked her product because it didn’t run or leak. So she switched up her packaging to target that audience and was able to get her product into stores.
What Matters Most to Retail Buyers
Understanding what matters most to buyers is key to getting your product into the big box retail chains. Karen Waksman and Retail MBA can help you understand how to go after stores and then do the work for you. They work with every product category at every stage of your business. If you’re interested, please take a look at what they’re up to at Retail MBA.
Thank you for watching our video! We appreciate your time and support.
Outline of "How to Sell Wholesale to Retailers - What Matters Most to Retail Buyers!
Retail MBA founder Karen Waksman has helped over 100,000 people over the past 13 years on how to sell their products to big-box retail chains. One of the questions she is frequently asked is what matters most to buyers at a chain store when reaching out to them. In this article, we will explore six things to think about to help you get started when reaching out to buyers.
Firstly, buyers are purchasing agents, which means they have money to buy products on the spot. Therefore, it is important to bring them products that are ready to be bought, including packaging and pricing. One strategy to help you is to walk through their stores and assess where your product would fit in the store. Different buyers are responsible for different sections of the store, so it is important to identify the relevant buyer. After identifying the relevant buyer, you should assess if your product will fulfill an assortment issue they have. It is important to note that buyers will ask if you have been to their stores, so it is crucial to do your homework.
For example, if a retailer is selling a moisturizer for the skin but not selling any eye-enhancing product, you may want to pitch your best-selling eye cream to them. Alternatively, you may want to combine your moisturizer with an eye serum as a bonus, creating a beefy product that is the same price as their existing moisturizer. By doing so, you may entice the customer to buy your product instead of a competitor’s product.
Secondly, Karen suggests thinking outside the box to come up with a unique selling proposition. By assessing your customer base and researching the market, you may identify a niche market that is not currently being catered to. For instance, Karen had a customer who had cosmetics that were unique in that they did not run or leak, making them ideal for athletes. By changing the packaging to target this market, the customer was able to open up a whole new revenue stream and get their products into stores.
Thirdly, Karen suggests making the buyer’s job easier. Buyers are busy people, so it is important to provide them with all the information they need in a clear and concise manner. This includes providing them with a complete and accurate sell sheet, which should include high-quality product photos, pricing, packaging, and other relevant information. By providing buyers with a clear and concise sell sheet, you can make their job easier, which may increase your chances of getting your product on their shelves.
Fourthly, Karen advises against making assumptions about what the buyer wants. The best way to know what the buyer wants is to ask them. By doing so, you can tailor your pitch to their specific needs and increase your chances of success. Additionally, it is important to listen to their feedback and adjust your pitch accordingly.
Fifthly, Karen recommends building relationships with buyers. Building relationships takes time and effort, but it is crucial to success. You can build relationships by attending trade shows, sending personalized emails, and following up with buyers. By building relationships, you increase the likelihood of the buyer giving your product a chance, even if it is not a perfect fit for their store.
Lastly, Karen advises against being too aggressive when pitching your product. Buyers do not like to be pressured, and it is important to respect their decision if they say no. Additionally, you should not send unsolicited samples or follow up excessively. Instead, you should focus on building relationships and making their job easier.
In conclusion, when reaching out to buyers at a chain store, it is crucial to bring them products that are ready to be bought, think outside the box to create a unique selling proposition, make the buyer’s job easier, ask the buyer what they want, build relationships with buyers, and avoid being too aggressive when pitching your product. By following these six
