It sounds so glam and fun, right? Who wouldn’t want to go on QVC or one of the other major home shopping networks and sell a ton of product? And earn credibility? And have a “free” advertising/infomercial created? Following are some considerations before you take this plunge: Can you extend to the home shopping network… Continue reading From the Entrepreneur’s Perspective: Considerations of doing business with a home shopping channel (i.e. QVC, HSN, ShopNBC)
Note: “Brands” and “Vendors” are used interchangeably in this post. Markdowns are what happens when inventory goes on discount. You’ll find 4 major types of markdowns in retail: 1) Promotional markdowns These are discounts that derive from any type of promotional sale such as a temporary price reduction, circular promotion, coupons, endcap promotions and more. 2) Clearance… Continue reading From the Buyer’s Perspective: Markdowns. What they are, why you need to consider them, and strategies for minimizing your risk.
Markdowns are when retailers discount a product to help move the product off the shelf and/or from their DCs. Most big retailers ask the supplier to help support a markdown when/if they discontinue the product from their assortment. Markdowns are one of those necessary evils in the retail sector. Consumers love them (they get merchandise… Continue reading From the Entrepreneur’s Perspective: Markdowns. What they are, why you need to consider them, and strategies for minimizing your risk
By Vanessa Ting The momentum of your brand is important, especially for large retailers. Brand awareness does not build overnight, not even with an aggressive marketing budget. Awareness takes time to build. And without it, your product is less likely to sell at shelf. In most cases, a brand less than 2 years old lacks… Continue reading From the Buyer’s perspective: How do I find a branding/PR/media firm to market my product line?