With celebrity and influencer launches happening left and right at major retailers, the question remains is it too late to get into retail? I have spoken to many new brands who are on one side optimistic about seeing their products on retail shelves but on the other side feel like they missed their opportunity.
It’s important as a small business or startup to not take the glass is half empty approach, instead the glass is half full! Major retailers have changed the way they assess the potential success of a product before they agree to selling the brand in stores, and the product screening process has changed for the better.
Most recently retailers launched accelerator programs to find new brands to sell in their stores, including Sephora, Ulta, Sally’s, Macy’s, Nordstrom’s and more. Many of the brands that participated in the accelerator programs have successfully launched in regional stores and some nationwide.
The great news for new brands, is they now can and have a better idea on what specific retailers are looking for in terms of the type of brands they are partnering with. For example, Ulta beauty brought on a large selection of clean beauty brands as the main focus for bringing on additional brands in 2021. These major retailers plan to continue the accelerators annually, and most, if not all are looking for brands NOT sold at any major retailer yet to apply for the program.
If you’re a new or emerging brand know that there is category space for your product, there is one spot on a shelf somewhere, and if a retailer is sold on your product, it’s their job to find the space in their stores – not yours!
So, go out there and pitch your brand to retailers, big and small, apply for that startup accelerator to help bring your product to store shelves – and never let one brand’s success discourage you from finding your own.
RETAILBOSS provides well-curated, research-driven news and insights into the trends and business aspects of the rapidly evolving retail industry.