The StartupNation Blog Trends, tips and real-life anecdotes from industry experts

Retail Temperature….

Being an expert at placing products into retail…trust me when I say even in economic hard times….stores are still buying, and entrepreneurs are still selling.

I revisit the point that in these unsure hard times, if you have a product that people really need, they are going to buy it, no matter what. People will always have essential needs, and still spend on non-essential goods if they are reasonable priced. It is simple economics, Supply and Demand. Americans love to shop!

I point out to clients that want to bring a product to market: the product must have a basis for existing. That basis must fill a need; therefore, your product should fill that need.

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When you are looking for a product to penetrate a market, look at the current market that is booming and find something that enhances it or makes it better. If your product is seasonal, find another season to sell it in, if possible. If the market is lagging, develop something that will improve the market.

My case study:

I have a seasonal product that is taking the market by storm right now, not only domestically, but also internationally. It is a need product, which people have to have. This product crosses several different categories of being a mass retail product, and an industrial use product.

Although it is a seasonal product here in the USA and Europe, it is NOT seasonal in Australia and New Zealand, the South Pacific Islands, and anywhere tropical. Luck girl I am!

In order for me to capitalize on sales in down times I have to turn to my connections in other parts of the world that can help me place goods elsewhere. I will be able to sell year round and not loose valuable windows and life cycles.

Because of my many years of networking and building strong relationships, I have the infrastructure and team that spans the globe. You can also; you just need to start networking and making important connections.

I highly recommend that if you are interested in taking a product to retail, you should read the NRF SmartBrief (national retail federation) free newsletter.   You can subscribe to http://www.smartbrief.com/nrf/, and gain valuable info in the world of retail. You can keep abreast of whom is doing what, when, and where in retail…..Knowledge is everything!

P.S. This is also a really good way to find sales reps, manufacturers, distributors, and other industry contacts you may need to start building that global product.

Always DREAM BIG!

Kim Babjak

 

About the Author: Kim Babjak

Kim Babjak was born to be an entrepreneur. From her childhood days of developing products, Kim has loved all aspects of business. However, the area that brings her the most joy is helping others achieve success. Armed with her dream [...]

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