Tip 1: Regularly update your buyer on your sales performance. Provide monthly recaps. Buyers don’t have the time to dig into individual SKU sales regularly so your regular analysis is much appreciated. This also allows you to own the analysis and control the story you are telling. Influencing how the buyer perceives your brand performance… Continue reading From the Buyer’s Perspective: Tips for Being a Good Retail Partner So Your Product Stays On Shelf
As a retail buyer at Target, I never gave much credence to brands that appeared on QVC, HSN or the like. Why? It wasn’t the same type of shopper that we pursued at Target. Plus, those networks often undercut the pricing in brick and mortars. And if your product requires that much demonstration in order to… Continue reading From the Buyer’s Perspective: Should you sell to a home shopping channel (i.e. QVC, HSN, ShopNBC)?
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)
By Vanessa Ting We’ve all joked at one time or another about how tired we are of making decisions. It’s a REAL thing! “Decision Fatigue” is a term coined by social psychologist Roy F. Baumeister and very much affects how we make decisions and our moods. Case in point, a few months ago when I was in… Continue reading Retail Buyer Decision Fatigue: It’s a real thing!
Yesterday, I did a video interview with Tamara Monosoff. Many of you know her as the best-selling author of Mom Inventors Handbook. It was a fun video with great energy and meaty content. As you’ve come to expect from this blog, we don’t skimp on content. We don’t hold back information. We share it all.… Continue reading [VIDEO] From the Target retail buyer: What it really takes to get into big box retailers
This is a common question. Many find that after the initial flurry of conversation with a retail buyer, the buyer suddenly goes radio silent. You send an email; but no response. Frustrating! Do you wonder how often you should follow up before feeling like a pest? Here’s my advice: 1) Build your communication cadence around the… Continue reading From the Buyer’s Perspective: How to continue the momentum AFTER your meeting with a buyer.
I’m going a little rogue today. Instead of following Romy’s post about Shark Tank with my own (which I will post soon), I’m sharing this post that originally appeared on my website. Source: http://www.retail-path.com/blog/what-types-of-retail-pitches-are-there This week, I’ve been training my new consultant, who is FANTASTIC by the way. And her insightful questions have unveiled topics that I… Continue reading From the Buyer’s Perspective: WHAT TYPES OF RETAIL PITCHES ARE THERE AND WHEN DO I USE THEM?
I always say there are 3 factors buyers care most about when evaluating new vendors. These are: Where is your product line selling and how is it selling in those stores (i.e., Performance)? How are you supporting your sales (i.e., Marketing)? Are you a good vendor partner (i.e. Execution)? So does your personality and experience… Continue reading FROM THE BUYER’S PERSPECTIVE: DOES YOUR PERSONALITY AND EXPERIENCE PLAY INTO THE BUYER’S DECISION MAKING PROCESS?
By Vanessa Ting This tip is THE most often ignored advice I give. Which is frustrating because it is among the EASIEST of critical steps to complete in your process of woo-ing a buyer. Showing that you know the retailer’s business is important. Before you go into any conversation with a retail buyer – be… Continue reading From the Buyer’s Perspective: Why is it helpful to follow the financial performance and read the annual reports of publicly traded retailers like Walmart, Target, and Walgreens?
By Vanessa Ting Endcaps and sidecaps are largely used to drive a sharp lift in sales in a short period of time. Therefore the expectations for the sales volume they will generate are HIGH – and typically not achievable for most newcomers to achieve. These “programs” are in-and-out programs. Meaning, this space is allocated for… Continue reading From the Buyer’s Perspective: How Do I Get an Endcap or Sidecap In a Store?