Do you have a product that is perfect for Spencers Gifts?
Have you ever wondered what it would take to get a product into their stores? If so, you will love this short training segment on how to sell your product to Spencers Gifts!
(For those of you who prefer to read this content, transcripts are included below!)
In this training, I will discuss some of the things to think about when approaching a retailer such as Spencers Gifts. Hope it helps! 🙂
To Your Success,
P.S. If you’d like to learn the exact steps on how to sell a product to retailers such as Spencers Gifts, then you will love my Retail MBA Program! This is the most comprehensive course available today on the subject of selling to stores.
P.S. I would love your feedback and/or comments, so please share below!
Podcast: Download (3:29)
Transcript of This Training…
Spencers Gifts – How to Sell a Product to Spencers Gifts
This is Karen Waksman, founder of Retail MBA. And in this particular blog, we’re going to talk about getting your products sold at Spencer Gift Stores.
The question people always ask me is “Karen, how do I sell my products at Spencer Gift or other retailers or something similar to that?” I want to give you things to think about and some strategies to support you in your process.
Spencer Gifts is a retailer that’s a little bit under the radar. They have anything from gift novelty items to sex toys. It’s like really random, kind of cool little products, fun products and entertaining products. It’s definitely an experience when you walk into a Spencer Gifts. It’s a niche retailer and it’s in a lot of stores. They have 600 stores that they’re responsible for and they have a lot of buying power that are interesting to me.
Their demographic is somewhere between the age of 18-24 year olds, so if you have a product for that age range, then that’s another reason to go after Spencer Gifts. I don’t hear many people reaching out to Spencer Gifts. Which means this is a really interesting opportunity for you to kind of explore a potential opportunity if your product fits within their customer base.
Now one thing to think about Spencer Gifts is that it tends to work on a consignment basis which is very different than a lot of other retailers. Maybe they’ve changed or maybe they’ve adjusted. What it basically means is that when you reach out to Spencer Gifts and they like your product, they might say to you “Hey Karen, this is a great product but we work on a consignment basis” which essentially means that you pay for the product to get to them and they only pay you for products that are actually sold.
They don’t give you an order for all of the stores for all of the products that you give them, only the one that actually sell in the stores, and if nothing sells in the stores, you’re responsible for those products and you are responsible for taking those products back and you’re responsible for paying for shipping.
Now, things could have changed but for the years that I have known about it, this is consistent with Spencer Gifts at least in the past.
Again, if you reach out to Spencer Gifts, they’ll specifically tell you that the buyers will let you know. My point here is to let you know that if you are in a position where you think your product is going to blow off store shelves and you are willing to do something on a consignment basis. Spencer Gift can be a great option for you but if that makes you nervous, you don’t have the extra cash to do anything like that you’re not willing to take that risk, just know that could be a possibility when working with Spencer Gifts.
I hope that I provided value for you, if you’d like to learn more on exactly how to get your products to retailers such as Spencer Gift, please take a look at my Retail MBA Program it is the most comprehensive course available today on the subject of selling to retailers and the link for that is listed below.