Do you have a product perfect for retail stores and wanted to know more about selling to Verizon and Becoming a Verizon Stores Vendor Through the Verizon Vendor Portal?
Verizon is an established retailer known for its massive purchasing power, which presents an excellent opportunity for those looking to sell their consumer products on a major scale! In this short video training, we will explore the process of selling to Verizon stores and Becoming a Verizon vendor and selling via their Verizon Vendor Portal! Whether you have a product that perfectly aligns with Verizon stores or are simply interested in exploring possibilities this short video training will provide you with insights and effective strategies.
Differentiating Between Selling to Verizon Stores and Verizon Authorized Retailers
Before we get into the specifics of selling to Verizon it’s crucial to understand the distinction between Verizon stores and Verizon authorized retailers. While both can serve as avenues for selling your product our primary focus in this short video training will be on Verizon stores.
Verizon stores are owned by the corporation itself. Staffed by their employees. With purchasing power they operate over 2,300 stores nationwide. On the hand Verizon authorized retailers are businesses that have their own employees and physical locations. While these retailers are authorized to sell Verizon products they function independently from the corporate owned Verizon stores.
The Potential Benefits of Becoming a Vendor for Verizon
In addition to offering a selection of phones Verizon stores also provide other products such, as phone accessories, headphones, speakers, gaming consoles, smartwatches, fitness devices and more.
This implies that if you have a product that complements or aligns, with any of these categories selling your product in Verizon stores could present an opportunity for you.
With a network of over 2,300 stores Verizon possesses massive purchasing power. If they decide to stock your product and it performs well it has the potential to generate millions of dollars in revenue for you. However it is important to bear in mind that Verizon stores are highly discerning when it comes to selecting the products they carry. So how can you increase your chances of becoming an approved vendor for Verizon?
Selling your Product in Verizon Stores
There are two avenues for selling your product in Verizon stores; directly selling with your packaging or opting for their private label brand or company owned brands and their Verizon Vendor Portal.
Direct Selling with Individual Packaging; In Verizon stores there are buyers for procuring products across all their locations. You can directly sell your product to these buyers while maintaining your packaging. It is crucial to ensure that your manufacturing process can handle volumes and that your product meets Verizons stringent quality standards. By selling with your packaging you retain control over brand identity and visibility, within Verizon stores.
Selling under Private Label or Company Owned Brands; Alternatively Verizon may choose to offer your product under their brand name and provide packaging requirements.
This presents a chance since Verizon has a customer base. However your name won’t appear on the packaging. When you sell your product under Verizons label or their own brands it opens up possibilities, with retailers too. It demonstrates that your product has gained approval from a company like Verizon.
It’s worth noting that when Verizon private labels products they focus on offering cost options to compete with established brands. This means that the pricing of your product should be competitive and affordable for their target audience.
Selling to Verizon Authorized Resellers
Apart from Verizon stores there are also authorized resellers who have the permission to sell Verizon products as store owned retailers. Even though they operate separately selling your product through these resellers can still be an opportunity.
By showcasing your product in Verizon authorized reseller stores you can establish a track record of success and foster relationships with these retailers. This could potentially lead to opportunities for collaboration with Verizon stores.
Developing a Sales Strategy, for Verizon Stores
To sell in Verizon stores it is crucial to have a crafted sales strategy.
Consider the following factors;
1. Manufacturing and Production Capacity; It is crucial to have a manufacturing process that can meet Verizons high volume demands while maintaining attention to detail and consistently delivering top quality products.
2. Pricing; If you opt to sell products under Verizons label or company owned brands it is essential to ensure that your pricing remains competitive compared to other branded products available, in their stores. The price of a product often influences Verizon customers decision to purchase under the Verizon brand.
3. Nurturing Buyer Relationships; Building relationships with Verizons buyers is key to achieving success. Take the time to understand their product categories and buyer preferences allowing you to tailor your pitch and approach accordingly.
4. Packaging and Presentation; If you choose to use your packaging make sure it visually appeals to customers and aligns with Verizons guidelines. Packaging plays a role in attracting customers and leaving them with an impression of your product.
5. Leveraging Opportunities; Selling your products through Verizon stores can also provide opportunities with retailers. Highlighting your success, with Verizon when approaching retailers can serve as a selling point.
If you can show that you have a partnership, with Verizon manufacturers might be more inclined to collaborate with you and provide deals.
Becoming a vendor for Verizon can be a opportunity for any consumer product. With over 2,300 stores and a wide range of product categories Verizon has a customer base and significant purchasing power. Whether you decide to sell your products with your branding or under Verizons label it is crucial to ensure that your manufacturing capabilities can handle large volumes and meet Verizons quality standards. Establishing relationships with Verizons buyers and understanding their preferences is essential for achieving success. Additionally selling through resellers affiliated with Verizon can serve as a step towards working directly with their stores. If you are interested in learning more about how to approach, pitch and sell to Verizon stores or similar retailers please refer to the links, for information. Retail MBA offers guidance in navigating this process and increasing your chances of success.short video training
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Outline of "Verizon Vendor - How to Sell to Verizon Stores!" Transcript:
Hey everyone! I am Karen Waksman, the founder of Retail MBA. Today we shall engage in a discussion about the possibility of selling your products through Verizon stores along with some important factors to consider during this process. Leveraging the opportunities available through Verizon can be immensely beneficial for your consumer product whether it is meant for their physical locations or online platform. So without further ado today we will explore this intriguing topic in depth.
To initiate our discussion . It is crucial that we differentiate between Verizon stores and Verizon authorized resellers. In this conversation we will exclusively focus on only the corporately owned outlets operated by in house employees.
Types of Products
These stores wield substantial purchasing power making them an ideal prospect for featuring your product line up.
Verizon stores offer customers a diverse range of items beyond phones. This range extends from phone accessories, jewelry, watches, speakers, gaming consoles and even fitness devices.
The diversity opens up various avenues for different electronic products catering to a spectrum of consumer requirements. With over 2,300 Verizon stores currently in operation negotiating a deal that features your product line can have substantial monetary rewards if it manages to captivate Verizons’ customer base. However. It is crucial that you convince them about the profitability of featuring your product line. One effective approach would be demonstrating evidence of sales and success from other sales channels.
A proven track record on this front . While not being obligatory. Can amplify prospects for success. You may start by targeting smaller retailers and subsequently expanding to encompass greater territory thereby underscoring market demand and subsequent sales growth.
Selling to Verizon
When considering selling through Verizon there are two probable alternatives: either featuring your own brand or featuring the product under Verizons private label brand.
In case of feature allocation under Verizons’ banner they might opt to use their own branding relegating yours specifically off package material. Complying with this model not only allows you access to Verizons expansive reach and massive customer base but also demands offering competitive prices comparable to branded products while keeping cost competitiveness in mind. Selling through Verizon stores necessitates active coordination with corporate buyers responsible for procurement across all outlets. To be successful. It is pertinent that you not only meet their volume requisites but also ensure adherence to stringent quality guidelines as you represent their brand.
Additionally. Verizon has a separate division exclusively catering company owned brands providing an added stream of revenue. Selling your products under their brand name can bring about significant advantages, such as favorable manufacturing deals while still allowing you the freedom to sell your products under your own brand elsewhere.
Additionally it is important to note that there are individual store owned Verizon retailers, known as authorized dealers, which operate independently. These retailers offer opportunities for selling your products on a smaller scale.
By establishing relationships with these individual stores you may eventually have the chance to engage in discussions with Verizon corporate. with their Verizon Vendor Portal as well. If you are interested in learning more about approaching and pitching to Verizon stores. As well as other similar retailers.
I encourage you to explore the resources provided by Retail MBA. Our expertise lies in guiding entrepreneurs through the complexities of retail including packaging, pricing, sales strategies, and more. Selling your products to Verizon stores can truly transform your business. Remember to invest time and effort into understanding their requirements and showcasing how your product will generate revenue for them. This is only the beginning of a journey filled with incredible opportunities if approached correctly. I would like to express my gratitude for joining me today. Should you have any questions or require further assistance. Please do not hesitate to reach out. Best of luck on your path towards selling to Verizon and other retailers!
Karen Waksman
Founder of Retail MBA
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In this training, I will discuss some of the things to think about when approaching a retailer to sell your products and become a vendor. Hope it helps! 🙂
Karen Waksman,
Retail MBA
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