Tracy Matthews | Thrive By Design
EP151: Is Brick and Mortar Really Dead? How to Navigate the Crazy Changes Going on With Wholesale Right Now
Even though lots of people think retail is going away for good, there’s proof it’s not.
In fact, brands like Warby Parker, which started out as an online brand, are actually opening stores across the country!
There’s a right way and a wrong way to do retail, and like Neil Blumenthal, the CEO of Warby Parker says, “Retail isn’t dead. Mediocre retail is dead.”
I totally agree!
Today, I have my wonderful co-founder and wholesale expert, Robin Kramer, on the show with me talking all about ways you can use retail stores to build your brand credibility in leaps and bounds!
This is a long term strategy to get your brand “out there” and recognized by some of the big names in the industry!
Don’t believe the naysayers who think it’s impossible to make any money selling wholesale…listen to Robin’s relationship building advice and get inspired to get retail accounts!
Educate Your Audience
Make your brand about more than just beautiful jewelry. When you educate your community about the WHY behind your brand and what you stand for, you grow a cult-like following!
Lululemon is a store that does this really well. They offer classes in their stores! So it’s a great opportunity to bring the community and education together, even if someone isn’t a customer – yet!
Sell From a Place of Service
Being successful in wholesale is all about making it easy for the buyers to work with you. Anticipate their needs, follow up with them, and even stop by the store if they’re local!
When you’re checking in to see how your product is selling, make it about them. Ask if they need more inventory or if your product isn’t selling well, offer some advice to help improve their sales!
Collaborate, Don’t Compete
If your retail partners want to sell your product through a site like Amazon, you don’t have to compete on price. You and your buyer both have the same goal; to sell product! So collaborate with them and make it clear what your terms are if they’re going to be selling on a site like Amazon.
It always comes back to the relationship you have with your stores. Communication and information will go a long way. Once your standards are known, do a little research now and then to see if they’re being respected.
And if you want more wholesale strategies…register for Robin’s free masterclass, The 5 Ways You Can Attract More Retail Accounts to Your Jewelry Brand – That Still Work!
It’s happening live on Thursday, May 31st at 3pm EST!
xo, Tracy (& Robin!)
Links:
The 5 Ways You Can Attract More Retail Accounts to Your Jewelry Brand – That Still Work!
