Another element for retail vendors to capitalize on are open vendor days. Many retailers hold these events to connect with new vendors, share information, and develop personal relationships. Take the time to prepare small presentations and product demos to show the retailer why they need to take you seriously and how well prepared you are to take their business.
Before heading to the event, always prepare. Most major retailers provide an outline of requirements for vendors on their websites. For example, check out Home Depot’s guide.
If you are a new vendor, creating the relationships with retailers will be one of your greatest challenges. Keep this is at the forefront of your strategy, but also be aware of where small vendors typically fail. Keep your company growing by seeking new retailer relationships, while soundly managing your finances to ensure your retailer vendor relationship is healthy, as well as lucrative.