Congratulation! Your online business is blooming and your customers want your products on retail shop’s shelves near them. And you too want to pitch your product to big-box retailers. That is actually a step ahead of doing retailing online. But this is not just easy. You need to do a lot of works to make prepared your store for this big jump.
It is fairly easy too, you just need to know who will be going to empty a shelve for your products. But before that, you need to know if you are even ready for the jump. Marketers suggest to pitch with retailers in a stage that you can do both e-retailing and provide your products to your customers’ next door retail shop.
But how? We are trying to explain the whole pitch process with full proof preparation of your store in this article and hope you will get what you are looking for.
How to find buyers?
Finding suitable retailers is quite hard as every big box retailer won’t want to buy your products to keep those on their shelves. Retailers already have best seller and demanding products and some may have aligned with your competitors before you did. Here are some ways of finding retailers for pitching your products.
The best way of finding retailers is by in person, just go to retail shops and ask if they are interested about your products. This way is a little bit time consuming but by searching and contacting in person has some advantages. First, you can demonstrate your products at your first meeting, secondly, they can feel the product and use it, finally people find it harder to say no in front of speaker.
Find and list some retailers’ email address and directly mail them that you want to work with them.
Tell a story in mail but keep in mind that don’t make it too large to read and don’t elaborate it. Just resonate why you are mailing them and tell why do you think your product will be beneficial for their business.
If you want to work with large groups of retail stores or retail chain, mailing may not be a good way to approach. Directly contact with their head office. It will help you to contact with the right people and to know how to approach.
How to get prepared for working with big-box retailers?
The next step of getting worked with retailers is to prepare your online store. It is not just making your store looking great or having such great products, rather it is a series of strategies you must follow to get your product on the self of retail store. Let’s have a look on ten must know strategies to prepare your store for selling products to retailers.
Does your product have a great consumer demand? Why do you want your product to be sold in a retail store? Have you already found a retailer for your products? If you have already connected with retailer store, then is it benefited for your brand and products? Does your store have the capacity to produce to fulfill new demands?
These should be your first concerned questions that you need to answer. You may sell your products worldwide through your online store, but you need to decide where to start either to national retailers or global retailers. It is most important to define your border because retailers may be different according to region or territory. Another cause is your target population. If you decide to sell your products to global retailers than your products may not get the maximum engagement that would get selling to national or local retailers.
As you are mainly selling products on internet through your website or online store, you need to decorate your website in a way that easily attract retailers and convince them to stock your products on their store shelves.
When you will approach to any retailers, they will also search information about you on search engines. And your website is the only way to let them have enough information about your brand and products.
You may have hundreds of products but all of them may not be much converting rather than your best seller products. So focus on what to sell.
Research your customers’ behavior and purchasing pattern and find out what products they purchased most from you. Let say, for example, if you are selling clothes, then find out which items of your clothe line get maximum engagement and profit. It is actually better to focus on bestselling products or new products that already have demand in market. You also need to determine retailers’ choice- will your future retailers consider your product to stock on their shelves?
Research retailers’ interests and make a list of retailers that are interested or already selling similar niche products.
The most important thing you must do before pitching your products to a big-box retailer is to plan. Yes, plan and plan. Plan where to start, how to start and when to start.
Planning is important in this case, because preparing your store to pitch product to multi vendors requires a lot of works. You first need to prepare your store for this big step. Then you need to find out a right retailer. You must know how to pitch and pricing is critical when you are pitching. You need to do all these staff quickly and clearly. And that’s why you need to create a foolproof plan- how to implement all these strategies.
Many brands just step into retailing not to think twice the consequences and most often hurt their business very badly. If you don’t know where you can get cheap packaging or commissions, how to market your product and even how to handle pitching, then your all effort will go in vein.
Where do I find the right retailer for my store? Or how will I understand that the retailer just good for my brand? These are very common questions that are often asked by e-retailers. A search for the best retailer for your product starts with you browsing stores for similar or related products.
First research and find out which local or global retailers are interested to your products or similar products. Spend some time in local retail stores, or attend trade shows to see what products retailers are looking for. If you already have a huge demand for your products, then try to find out people of which region are showing much interest.
It is better to make a clear presentation keep in mind that which shelves you want your product on and then approach to retailers and show your presentation. Check to see if retailer offers any special programs like local trade show or local vendor programs. This will help you to target a large community.
Send your listed retailers emails or tweet message to introduce yourself knowing them that you are interested to work with them. This is the simplest and easy step to prepare for pitching your products to a brick and mortar shop.
You will get response from some interested retailers and some may ignore you. Contact with them who show interest and try to get known with them. Find out if they fulfil your requirements or what they demand to work with you.
It is better to pitch in person- that means approach to your retailer by yourself instead of hiring and depending on third party. Pitching in person is important, because a hired professional may know the best way to approach to the retailer but can’t express or present your products like you do.
You know the story behind your products. You can create the touchy environment or a bond between your product and retailers by telling the story which a third party manager might not understand.
Marketers suggest to hire a professional to manage pitch on behalf of you if you have such large and dynamic brand and business like clothes and fashion which is continuously changing. But when you are approaching to retailers with your DIY products or limited and less dynamic product, share your story, tell them what makes you different and why you think your products would be a great fit with the store’s existing demand and products.
Another important thing you need to consider when preparing your online store for the big leap. And that is your pricing. Pricing is critical because retailers will try to fix a stable price for your products. But you need to consider your all costs including manufacturing, packaging and delivering your products to retailers’ shelves. So make sure that your pricing is a little bit higher on your online price. Be resonate when pricing because retailers knew that their customers will look online for the same products if they find the price too higher than online.
When you are selling online you may not need to think twice about packaging as you are delivering your product using shipping packaging. But when you decide to get your product on retail shop’s shelves, it your products’ packaging that customers would notice first.
The key to retail packaging is to ensure that your customers will get enough idea about your products through products’ packaging. Good and well packaging also prevents your products from sudden damage such as dropping from shelves and this is also resistant to theft.
So make sure you are following the right way of product packaging using the best packaging material which will protect your products from outside damage. Proper packaging also ensures products’ real shape and size and weight.
You must prepare your store for larger volume production as retail market requires larger volume supply than online retailing. You may have certain amount of production when selling online but you need to manage your whole production operation for large volume.
Retail shops don’t stock products in a minimum number, instead they always keep extra stock for further demand. You have to ensure before pitching that, you will be able to produce the number any time whenever your retailers will demand.