How to Get Your Product in Stores
Say you have a great, unique product you've managed to make and maybe have available for sale online and in a handful of retailers. Then what? Making the jump to the big retailers is never easy, but entrepreneurs can learn a lot from these three case studies to help guide the way to success.
IntelliGender was started in 2006 by two moms, Rebecca Griffin and Teresa Garland, who over lunch one day came up with the idea for a home gender prediction test for expecting mothers -- a fun and affordable way to bridge the gap between conception and sonogram.
The test was first available online only, which helped Griffin and Garland learn about their customers and grow their business slowly. The next step was to work with a few local maternity stores. The product was so popular at these shops that the founders decided to exhibit at baby and maternity trade shows, which got them a deal to sell their product in regional chain supermarkets. This exposure eventually caught the attention of national retailer Walgreens (WAG).
It was such a success at Walgreens that other national chains like Rite Aid (RAD - Get Report), CVS (CVS - Get Report) and Target (TGT - Get Report) soon wanted to sell the product also. For Griffin and Garland, trade shows allowed them to step up to the next level.Lesson Learned: Trade shows are a great way to introduce your brand to retailers. Buyers walk these shows looking for unique goods, so being at the right show can open doors for you and your brand. When considering trade shows, take the following factors into account:
- Choose trade shows that showcase brands of comparable quality to yours, which attract the kind of buyers you want to meet.
- Select who will represent your brand at the show very carefully. Only the best will do -- and unless you have a dedicated marketing staff, it's probably you.
- Decide how to display your product to maximum effect. Plan a demo if your product works best as a hands-on tool.
- Think realistically about the cost of attending a trade show. They can be expensive, but you can offset certain costs by doing such things as sharing a booth with another product. Also, remember that the exposure a trade show can provide can lead to a vendor relationship that could last a very long time.
Launched in London, Urban Therapy Twisted Sista is a multi-ethnic range of hair treatment products formulated to guard against the stresses of modern city living with UV filters, plant proteins, antioxidants and shine enhancers. Urban Therapy's American manufacturer and distributor, Potter & Moore, presented the brand to Duane Reade, a New York-based drugstore chain with more than 250 locations. The firm felt Duane Reade had the same target demographic as Twisted Sista -- multicultural and urban -- and was a good fit. A presence at Duane Reade has been huge for Urban Therapy. It has since added Target and Rite Aid to its sales locations, and will launch in 8,000 Walgreens stores next spring, truly a dream come true for the brand. Lesson Learned: Working with a distributor is a proven way of getting national your product out there. There will be a fee involved -- probably a monthly retainer plus a percentage of sales -- so for certain businesses this option will be cost-prohibitive.
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.