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Target is sometimes overshadowed by its scary big brother, Walmart, which has completely dominated the discount retail sector for some time. However, the truth is that Walmart simply focuses almost all of their energy into one factor —pricing. Walmart offers a cheaper bottom line, but in the wake of the recession and with increased financial security, it seems that a lot more shoppers would prefer a store that gives them more well-rounded benefits. Target offers value and quality – a fact that has won them their own slice of market share and a decent amount of good will among consumers. These selling points should also appeal to private label brands which are trying to move their products that similarly focus on quality as much as they do on pricing! How can you sell your private label products in Target? Read on to find out!
How Do Target and Walmart Differ?
The primary difference between Target and Walmart can be understood through Target’s nickname, “’Targét.” Both companies are discount retailers, but Target is okay with having slightly higher prices in the name of design, quality and customer experience. Walmart has lower prices, but Target definitely brings its own value, targeting customers who would prefer to pay a little bit extra for a superior shopping experience and a larger variety of design-centric, high quality, niche items.
Benefits To Selling Private Label Products In Target
Target is always working to get into the mind of their clients. Once they find a product that will be appreciated by their “guests,” as they call their shoppers, they have been said to be an absolute pleasure to work with. Targets works closely with suppliers to help grow their companies and work together with them to bring products to shelves that are both high quality and low cost. Another major benefit to working with Target is that they prefer to introduce products nationally rather than regionally, and with 1,800 stores in the U.S., that translates to big sales! Needless to say, Target is one of the most successful retailers in the U.S. so selling your private label products with them will magnify the scope of your sales and improve industry perception of your brand dependability incredibly.
It’s #puppylove! We’re drooling over @ohjoy’s new pet collection. #OnlyAtTarget https://t.co/rZM38q5xmz pic.twitter.com/iI5bIrSkR1
— Target News (@TargetNews) February 15, 2017
How To Sell Your Private Label Products In Target
Attracting the attention of Target buyers can be achieved via a multitude of avenues. The traditional route is to introduce buyers to your product however you can manage to do so, and then work out whether you’d be a good fit with that retailer. Part of a buyer’s job description is to attend industry specific trade shows and to keep up to date with industry publications. Attending these trade shows is a great way to network, build relationships with buyers, and display your product and company.
In general, a small trade show provides its own opportunity for meeting influential people in a more intimate setting, but the very large retailers don’t always attend them. If you’re aiming to meet a Target exec or to expose Target to your brand, it’s best to attend the bigger ones. There are also trade shows organized specifically to link manufacturers and buyers, and while why can be more expensive to attend, it’s an efficient and surefire way to meet buyers. Make sure to get yourself into industry publications, and if you can get more publicity and media coverage, do so. The more hype surrounding your product the more faith the buyers will have in your product’s appeal in the public eye. But Target is embracing a much more modern, efficient way to connect buyers and suppliers through RangeMe.
RangeMe is a free online service that allows you to make a profile including basic company and product information such as product category, who it targets, pricing and current stores of sale. Upload some great pictures of your product and add a promotional video if relevant. You can choose which retailers you’d like to send your info to, and RangeMe presents key points to relevant buyers looking for products within parameters that yours falls into, connecting the right people. It cuts out so much time wasted for both you and the buyer, and helps the discovery process run as smoothly as possible. Target was the first retailer is the US to utilize this platform and stands behind it. The old fashion way isn’t dead, and introducing a product in person definitely has its unique benefit, but if you want to get through to Target you should absolutely be on RangeMe – even if it’s supplementary to your other marketing methods.
How Selling Through Target Can Build Your Brand
Target is known for its selection of appealing products, comparable to non-discount retail items. This is apparent in their many designer fashion collaborations, organic food selection, etc. Having your products sold alongside these items boosts your brand as a worthy value alternative. Target’s branding has been as a value, quality retailer and your brand can ride those coattails by being sold at Target and getting the chain’s figurative stamp of approval in that way.
As is the case with any retailer, getting your private label product into stores and doing well is reliant on your alignment with the retailer’s image and branding strategy. With Walmart, affordability is the name of the game. To succeed at Target, your brand should be compatible with their branding as a stylish, quality, affordable but not “cheap” store.
Target tends to primarily work with national brands, and their clientele base is more likely to choose name brand products than shoppers at another discount retailer. However, as their Chief Marketing Officer explained in an interview with Forbes Magazine, the company promise is “Expect More, Pay Less”. Target continues to work towards the value implied by that promise, which is very opportune and heartening for private label brands!