http://retailmba.com. Best Buy Vendor - How to Sell a Product to Best Buy and Become a Best Buy Vendor
Hey everyone! My name is Karen Waksman and I’m the founder of a company called Retail MBA. And today I want to talk about becoming a Best Buy Vendor
Now, the reason I decided to create this particular segment is because I teach thousands of product companies across the country on the subject of selling to retailers and Best Buy comes up all of the time. If you have a consumer electronics product, you, typically, want to sell your product to Best Buy.
And so, today, I want to talk about, maybe, give you some suggestions, made you think about things that you’re going to need to deal in regards to working with Best Buy. So, I hope this helps.
Anyways, let’s talk about what’s on Best Buy. Well, the big thing that I know about Best Buy is that everybody with consumer electronics product, you know, who has ever created one. Probably wants to approach Best Buy or has already done so. And the problem with that, for people like you, who are just getting started or trying to get products into that store is that you’re dealing with the retailer that is competitive. It’s tremendously competitive consumer electronics products. Because, again, everybody is reaching out to Best Buy about their products.
So, how do you differentiate yourself? Well, one way to do that, if you’re kind of just getting started, maybe you’ve reached out to Best Buy or you’re, kind of, about to. My recommendation, is always to start reaching out to Best Buy to let them know about your product. But if they say no to you, please don’t take that personally. It really doesn’t mean anything other than you’ve picked one of the most competitive retailers out there in regards to that product type.
So, my recommendation to you is to reach out to other retailers who sell consumer electronics products, you know, see yourselves consumer electronics products. Wal-Mart, sells consumer electronics products. I mean, every major retailer now sells consumer electronics products. So, why not reach out to other retailers who don’t only focus on consumer electronics. Get your products into those stores, start building up your business and then, going back to Best Buy and showing them proof of sales of your product.
You see, Best Buy, really, ultimately, you know, since they see so many products in the given day, of the same type of thing, constantly. What they really care about? Is money. Because at the end of the day, they want to make sure that they’re generating revenue with their products. If you have, every product in the planet coming to you, you want to make sure that the ones you’re picking is going to make you the most amount of money. It’s just the way it goes in retail.
So, again, my suggestion is to go elsewhere, sell your products at your consumer electronics products in other retailers, and then refocus your efforts on Best Buy. And let them know about your successes and the things that you’re doing. And that’ll help you, kind of, grow your business with Best Buy or at least, get started.
Now, one other thing I want to suggest to you is that, bestbuy.com, which is their online store, is, probably, it’s actually the Top 10 website on the web today. It’s one of the largest websites on the web. It’s Top 10 site. Which means, they get over, I think, it was, like, a billion visitors to their site. That’s insane. That’s tremendous. So, one suggestion I have for you is to, potentially, reach out to bestbuy.com. And for most of you, you probably think that Best Buy stores and bestbuy.com is the same thing. Well, actually, in that space, bestbuy.com has its own buyers and buys products, specifically, for bestbuy.com and Best Buy stores has buyers for Best Buy stores. So, they’re, actually, another set of buyers for bestbuy.com.
So, if you’re having trouble getting into Best Buy stores, the other suggestion is to reach out to bestbuy.com. Because, again, there’s another set of buyers and so forth. And so, you could, potentially, get your products into bestbuy.com, which could be, tremendously, advantageous to you because they have a billion people who come to that site and that could be great for your business.
Anyways, I hope that provided value for you. If you want to learn more on the exact steps, from start to finish on how to get your products into Best Buy, you, probably, will love my Retail MBA program. The link to the site is listed below. So, please take a look at that. Otherwise, I hope this helped you and please be on the lookout for the additional that I create. Thanks so much. It’s Karen Waksman with Retail MBA.