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It is a competitive world and getting your products to be sold at major retail stores is not easy to achieve. You’ll be dealing with people who’ve been in the game for a long time and know when a good product comes across their plate. If you lack the experience of delivering sales messages and don’t know how to sell wholesale to retailers, you’ve arrived at the right place. Here are our tips on how to approach a buyer with your product and make a sale!
How to Sell Wholesale Products
Research the Retail Store
Before making any initial contact with the retail store, you must learn about their history, reputation and relationships with past and current customers and suppliers. Try to talk with fellow suppliers that are not a direct competition, and get some valuable information and insights. That way you will be better prepared for the meeting and you won’t be surprised by the retailers unique policies that may pop up during the conversation.
Retail Stores Demand Solid Infrastructure
Retail stores demand solid infrastructure because it represents a crucial factor for green lighting the potential collaboration with your company. That solid infrastructure consists of high-level packaging that creates a positive effect with customers, dependable and efficient shipping and logistics system and the capability to handle large orders. Getting this infrastructure in order guarantees a successful collaboration and good selling of your wholesale products. Prepare your infrastructure before approaching a retailer and present it as one of your main strengths.
Get Your Pricing Right
Offering pocket-friendly prices may increase the chances for future collaboration, but you must do the math and protect your own financial interests. That’s why when selling to retailers pricing plays a major role in the negotiation process. Before you make your sales pitch to the store, determine the following – your own policies and terms concerning the minimum order amounts, terms of payment and what payment methods will be used, shipping options, and return and exchange policies. By carefully planning and defining all of these beforehand, you are not only protecting your business but building a solid back structure for future partnerships with many retail stores.
Choose the Right Communication Method
We are living in the golden age of communication. Whether through email, video chat, meeting face-to-face or sending an old fashioned product introduction letter to retailers, you have plenty of methods to choose from to make your first contact. Which one you’ll choose depends on numerous factors, but often is influenced by the age generation the sales manager belongs to. However, digital channels have proved numerous times to work best for making the first sales pitch. After you’ve presented your goods through an informative email, the retailer may call for a face-to-face meeting. If you get to the meeting stage, closing the sale is very near. You just have to make sure to sort out the details of the arrangement.
Follow-Up Is a Must!
Not all deals are signed with one or two meetings. Some retail stores management teams require time to think over the details and decide whether your product will add value to their store. They’ll probably do their own research before they make a long-term commitment to your business. For that reason, you must act hastily, send them an appreciation email and thank them for taking the time to listen to your presentation. Use that opportunity to fortify your stance on why your product would be a great addition to the store’s offerings. Follow-ups don’t stop with one mail, so be persistent and send follow-ups, until you feel that it is enough and move to other clients. However, note that most retail stores respond positively after the third follow up!
How a B2B platform can help you increase your sales
Enterprise League is a B2B platform that helps businesses find other businesses to collaborate with. We help businesses like yours find new opportunities and connect with each other. We think that the digital method is the best way to approach retail stores and sell your wholesale products because you can gain all the information about their brand and what they are selling. Connect with retail stores and make the initial contact. Additionally, companies can recommend your products to other partners from abroad and help you scale your business fast. Enterprise League is built from entrepreneurs for entrepreneurs!
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