Wayfair Vendor – How to Sell to Wayfair and Become a Wayfair.com Vendor!
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We have clients who sell tremendously well on this one website.
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(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
P.S. Want to Get Your Products into Chain Stores in a Fraction of the Time? Check out our Retail MBA Training and Coaching System! We walk you through exactly how to approach, pitch and sell to chain stores. No sales experience, patents or buyer relationships required!
Transcript for Wayfair Vendor – How to Sell to Wayfair and Become a Wayfair Vendor
Hey everyone. This is Karen Waksman, founder of Retail MBA. Today I want to talk about wayfair.com and becoming a vendor for Wayfair. So why am I teaching this little segment? Well, I’ve over the years taught tens of thousands of business owners across the globe on how to generate revenue with their physical products, to major retailers, online retailers, small retailers, catalogs, and so forth. And along the way, different websites show up that are doing phenomenal and I like to talk about it to help you out. To give you some ideas some things to think about to support you in your quest to generating revenue. So Wayfair comes up because some of you guys are selling home products, home goods, and so forth. Well, Wayfair is now the world’s largest destination for home products. And so if you go to their site, it’s tremendous, I’ve purchased stuff from there. It’s a great website for really interesting home good products and so forth.
So a few things to think about in regards to Wayfair and why you should consider working with them and some tactics and so forth is that they currently sell 18 million products across their five brands. They have five different brands online. They’re selling 18 million different products. I mean, it’s a massive enterprise. And so a lot of you guys have never heard of Wayfair’s so first of all, just take a look at it. And if your product makes sense for that website, definitely explore that option. But also, they’re massive. They employ almost 16,000 employees as of today. And they’re growing and they’re scaling and they’re basically selling anything related to furniture and different types of things for accessories and stuff for the home.
But you never know, sometimes they throw in different things that could conceivably work for your product. So what would I say about Wayfair? First of all, go check them out. If they [inaudible 00:01:54] anything of value to your product, definitely consider going after them. I have clients who crush it on websites like Wayfair, because basically what those websites are, they’re destination sites where millions and millions of people are going to buy products and they’re essentially emailing them and letting them know about different deals. And trust me, Wayfair is on it. And so you get access to a whole other audience that you wouldn’t have had to… You don’t have to do anything once they allow you to be a vendor and so forth. So it’s a really, really big deal if you can get somebody else to do all the work for you essentially. And that’s what some of these websites are all about.
So what do you do about reaching out to Wayfair? Here’s the problem with these online sites, most people don’t realize that Wayfair actually has actual buyers who purchase things. It’s not just submitting your product to their website and getting your product reviewed and so forth in the cloud or whatever. They actually have buyers who look at things all day long to add to their assortment because they’re hungry for that next new product to put on their website. So why that matters to you is because you can go and try and submit your product on their website and see if they’ll add you to the vendor. But a lot of times they don’t respond or it doesn’t work out or maybe their questions that they’re asking you isn’t great for your particular product.
And it just doesn’t feel right when you’re submitting your product. You don’t know who’s checking out your stuff and maybe you want to talk to the buyer about pricing depending on quantity. There’s things that you want to have a little bit more control of. The way the professionals would do it is they would find the appropriate buyer within Wayfair, reach out to them directly in a very particular way, get the buyer to review the product based on what you want her to see and ultimately get a purchase order and, or, set it up as a vendor through them. Now, why does that matter? Well, most people don’t know how to do that. And so that’s where people get stuck, where they’re submitting their product. They’re not getting [inaudible 00:03:47]. They’re thinking that there’s no way to generate revenue with this company.
But honestly you just didn’t know the strategies and tactics that the professional use. And why would you know it? Most of you guys aren’t in the business of knowing this type of stuff. So I’m here to tell you that finding the appropriate buyer at Wayfair and so forth, submitting your product to them directly in a very particular way, you don’t want to just spray and pray and hope that the buyer takes a look at your product. This could be a lot of money for you. You want to learn a little bit because it’ll help you across the board in submitting your product to all these websites and so forth. So the thing about what to actually say to buyers, and most of you are going to get annoyed with me now that I’m not sharing that with you. It’s not because I don’t want to, it’s because when I support somebody, we actually look at your products and support you and your particular product, because every product is unique.
There’s words to be said that’s unique to each person. And so I don’t like to throw out garbage. I really want you to get supported and we want to help you and want to make sure that you’re getting the right verbiage out to these buyers so you get them interested in your product. So, anyways, I hope that provided value for you. Oh, by the way, you don’t want to submit your product on LinkedIn or something like that. Like if you find the buyer’s name and you see that she’s on LinkedIn, you’re not submitting your product through LinkedIn. That’s her resume set up. That’s a place where she puts up her resume online. She’s going to hate you. It’s not a pleasant place for a buyer to get information about a product. It’s really not cool for them. So they don’t like that.
So you actually need to find that appropriate buyers contact information. You can buy lists and so forth. But again, it’s the words you use that will ultimately get them to convert. And we sell lists. There’s all sorts of opportunities there. But anyways, it’s really about the words and the reach out and so forth. But the opportunity is there. So anyways, take a look at their site, see if that’s interesting to you.
If you want to learn how to approach, pitch, and sell to online destinations like Wayfair, we have actually a webinar that we created. The next one’s coming up soon. The link to that free webinar is listed below. All you have to do is click on the link, sign up. It’s free. We have an opportunity for you to see a replay if you don’t want to wait for the next week and so forth. But ultimately what we do is we walk you through the details of how these retailers operate and what ultimately gets them to purchase things and so forth. So, just wanted to help you out. So click on the link below, sign up, love to support you. Or if you like this information, subscribe, comment below if you like. Keep in touch with us, we are always adding new information. This is Karen Waksman, Retail MBA. I hope this helps. Thanks so much.