183: Getting a New Hardware Product into Retail Stores

Yohan Jacob is the Founder and President of RetailBound, an agency that helps emerging hardware brands get into major retail stores and sales channels. RetailBound has been around for 14 years and has worked with over 4,000 product companies. Yohan himself has spent 30 years in the industry, including being a major buyer for Sears and Office Max. The last episode we talked about scaling up when in retail stores. Today Yohan is going to explain to inventors, startups, and small manufacturers why retail is a huge sales opportunity in 2023, how to overcome objections to going the retail store route, and how to smartly begin your relationship with a retail store chain. Today you will hear us talk about: Retail stores are not dead Retail stores have got better at being omni-channel, where they also sell online and in collaboration with their physical stores There are many elements of value in selling an invention through retail stores. Leverage the presence of your product in retail stores to use that media to increase the value of your product online and with various stakeholders of your product and product business. Think about selling to distributors who then sell to retailers A basic marketing plan Start small when going into the retailers, then grow. Profitability Leveraging online sales to sell more product Don't overcomplicate things, and don’t have fear. Yohan Jacob Links: LinkedIn | RetailBound The Product Startup Podcast Links: https://www.ProductStartup.com/ Instagram | LinkedIn | Facebook Page | Facebook Group | Pinterest | Twitter | YouTube Mako Design Links: https://www.makodesign.com/ YouTube | Instagram | LinkedIn | Facebook | Pinterest | Twitter Kevin Mako Links: Instagram | LinkedIn | Quora | Facebook | Twitter Partner: PTC’s best-in-class software solutions Onshape: The only cloud-native product development platform that delivers full-featured computer-aided design (CAD), integrated product data management (PDM) and enterprise analytics in a single system, and Creo: 3D CAD solution that provides designers with the most innovative tools to build better products faster, such as generative design, additive manufacturing, real-time simulation, IIoT, and augmented reality. Producer: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories.