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Hi all,
I trust you are well and your help would be much appreciated with the follow questions?
What are the factors to consider before giving a retailer approval to sell your products for you? (3rd party retailer)
How do we measure their performance thereof in such case?
Thank you.
1 Credit worthiness. You sell to them first so you need to be paid by them. Take up credit references and ask for their latest FS.
2 Reputation. Does the retailer’s image suit your product? You can investigate this using Internet searches and your knowledge of the market. Visit their outlets.
3 Geographical spread. How may outlets does the retailer have in the areas you want to sell into?
4 What competing products are they selling and why would they make an effort to sell your product(s) in preference? Can be investigated via their web-site and visits.
You can set sales targets with price discounts depending on volumes sold to encourage higher sales. Ask final consumers for feedback on retailer performance (consumers would ned to register their purchase with you).
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