Rite Aid is one of the largest drugstore chains in the United States. That is the reason why so many entrepreneurs are interested in selling to them! So, if you have a product that you think will be perfect for this massive drugstore chain, then you should definitely check out this new training video I created on How to Sell to Rite Aid and Become a Rite Aid Vendor!
In this video, I talk about some tips and strategies on how to sell your product to Rite Aid. I also cover some of the things that you should think about before approaching them. With the sheer volume of stores they’re currently responsible for, just think of their tremendous buying power and how massive this opportunity will be for you if you approach them with your product!
And the best thing is that Rite Aid is not just limited to drug and health products. They sell a variety of different products in so many different product categories. Do you want to learn more? You’ll just have to watch the video!
(For those of you who prefer to read this content, transcription is included as well below!)
Wishing you so much happiness and success.
Karen Waksman, Retail MBA
Transcript For Video Listed Here…
Hey everyone, this is Karen Waksman, founder of Retail MBA. Today I want to talk about Rite Aid. So if you want to sell to drug stores like Rite Aid, I wanted to create a quick training segment to give you some tips and strategies and things to think about. In every video create, I try to create some variety and new things about selling to retailers and so we’ll talk about Rite Aid and give you some strategies to get started today.
Please know I’ve taught tens of thousands of product companies on how to sell to stores. And so this information just comes from my training segments and also from clients and so forth, all people who got into stores because of my content. So let’s talk about Rite Aid and if I would want to give you some things to think about, it would be the fact that they have over 2,500 stores that they’re responsible for currently. This changes a little bit but 2,500 stores in 19 states that means they have tremendous buying power. They have 51,000 employees currently. I mean that is a huge business. One chain store order can 10x or 100x your business and definitely Rite Aid can do that.
So people always ask me, “Karen, how much do they buy? What kind of quantity? What kind of volume does it look like to work with a retailer?” So I want to give Rite Aid as an example. So I have client who recently got orders from certain drug chains, and so basically what that looks like is they say buy around 30 units of your product for one individual store. And if they decide to work with you, they typically buy, you know, for maybe a hundred of their stores or maybe 15 or tops stores and so forth. And if the product sells, then what they’ll do is that they’ll reorder the product for all of their stores eventually, right. The product sells, they’ll eventually keep buying and hopefully they’ll buy for all of their stores. Obviously, it does depend on the product type and if it makes sense for all their stores and so forth, but a lot of times, if the product does well and does convert one to ten stores, they tend to buy more and they consistently buy. So the initial test order would be something like 30 units on average and for, I don’t know, 50 to 100, 150 stores, sometimes more depending if they believe in your product.
So let’s just do the math on that. So what happens if you put your products in the stores and the test goes well, meaning that they just buy x number units of your product, what will happen is that if they buy say 30 units of your products for 2500 of their stores, I mean, that’s you know, a huge amount of money for your business and in your bottom line. I mean, if for 30 units, 10 to 2500 stores, we’re talking 75,000 units of your products. I mean again, that is tremendous and that’s just one retail chain.
So the goal for this little segment is just to give some you a food for thought and the kind of opportunity and volume and so forth. The other thing to think about is with Rite Aid, they buy a lot of other products besides drug products, and health and beauty and cosmetic products. They buy electronics. They buy shoes, they buy even hair accessories. They buy all sorts of different things, and so definitely walk in their stores to see what they put in there.
They also have seasonal buyers, people who buy for the seasons, stuff for the winter, and stuff for the summer and so forth. So if you’ll see in their stores like where I live, I live in the beach town, and so basically I’ll always see fun things like you know, beach gears, and stuff for the summer months. And then like if I’m in different areas they’ll have more winter stuff and so forth. And so the concept here is there are seasonal buyers who buys according to the season.
Another thing to think about is beyond the fact that they sell massive product and your product could fit in the seasonal section of the stores and so forth. And in that case, you don’t need to sell the all 2500 stores. You could probably sell to the regional buyer who buys for certain sections and certain times of the years and certain locations. So the regional buyers can buy for the North East regions, Southwest regions and so forth. The cool thing about Rite Aid is that beyond their corporate buyers buying products for all of their stores, they do have regional buyers and so forth. And they deal with seasonal and so forth.
Anyways, I hope that provided value for you. If you want to learn exactly how to approach, pitch, and sell to retail chains such as Rite Aid, take a look at our website retailmba.com. That’s retailmba.com. We explain exactly how to approach, pitch, and sell to them. We have free training. We have advanced training that you could purchase, live events, all sorts of cool stuff related to making money.
Otherwise, please subscribe to our channel. Be on the lookout for the next training that we create. And we’d love your feedback if you have any request for additional training you’d like us to create, please mention that in the comments below. We’re always here to give you nuggets of gold and help you make money with retailers. Karen Waksman, Retail MBA. I hope that provided value. Thanks so much!