Here are the key factors that significantly increase the chances of success in retail:
- Patent protection – Having a patented product greatly boosts its potential to attract attention, as it provides a unique selling point in the market.
- Uniqueness – Unique products naturally draw interest, even without patent protection. You can make existing market products stand out by incorporating distinctive design patterns or special features.
- Appeal – Strong branding is crucial to success. This should be reflected on your website and, most importantly, in lifestyle images. Never underestimate the power of effective branding.
- Variety – Offering products with unique patterns or unconventional colors makes your variations more attractive and helps them stand out in the marketplace.
These are only a few points, I can write and talk about this for hours, visit my YT channel if you want to hear more.
Make sure you subscribe my channel as I am soon about to upload very cool videos!
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SPECIAL CHANNELS – WHAT IS THIS ABOUT?
I frequently discuss special channels during webinars and video calls. While traditional brick-and-mortar retail in the USA is immense, there are many other avenues beyond chain stores and online platforms that you might consider:
– TV segments – Featuring your product on shopping networks or in dedicated product segments on TV can offer massive exposure to a broad audience. Pricing is not easy in this section but the exposure is very high.
– Local importers – Working with local importers can be an effective way to enter niche markets or specific regions. These partners have established relationships within their markets and can help bridge the gap between your brand and local retailers, easing your entry into new territories.
– Subscription boxes – Next week I will focus on this channel!
– Distributors – Partnering with distributors allows your product to reach a wide network of retailers without the need to manage individual buyers in various chain stores, however the pricing in this channel are usually very challenging.
Next week, I will focus on subscription boxes and share how this amazing channel can benefit your brand.
🚨 RETAIL NEWS – OFF-PRICE RETAILERS POISED TO TAKE EVEN MORE MARKET SHARE FROM DEPARTMENT STORES
Although regular price stores are still doing good and we still work with them (they are probably around 80% out of the 450 retailers we cooperate with), we did see in the last 2 years this trend of off price stores growing fast. I personally believe that platforms like eBay and Aliexpress are the main reason for it, people got used to buying some of their products for very cheap.
However, just as I appreciate quality, many others does as well, and would still rather pay a bit more but have a product that last for decent time.
On the off price chain stores we saw a massive growth of companies like Ross Stores, TJmaxx, HomeGoods, Burlington and others.
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⚠️ I’VE NOTICED SOMETHING INTERESTING WITH BUYERS LATELY
Some are simply sending us application links, while others from the same retail chain are initiating real conversations—asking for pricing or samples. The ones sending application links are, unfortunately, wasting our time, as those links rarely lead to any actual business.
The positive side, though, is that buyers from the same retailer can lead you to real opportunities, while their colleagues will just frustrate you with forms and links.
💡THE MOST IMPORTANT THING YOU SHOULD KNOW AS A SELLER
Believing in your brand not only fuels your enthusiasm but also attracts customers to your products.
When belief is combined with action, it sets the foundation for lasting retail success.
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