Retail skin care sales should be at least ten to twenty-five percent of your revenue. With Amazon and other retail killers out there, finding a niche to sustain additional add-on revenue can be challenging. Your client may take your suggestions for home care and then head to Ulta or Sephora, costing you a sale. Besides helping your client keep their skin looking amazing with a recommended home skin care regimen, private label skin care can add to your bottom line and should be considered as an option for your retail plan.
When you are trying to decide on private label, there are several decisions you will need to make. Here are the basics of the process:
Once you find a company that meshes with your skin care philosophy, you are ready to move forward. Your conversations with each private label company are going to have to include multiple points. The first being the setup cost for labeling. Fees can vary. Have a good graphic that will promote your brand. Take the time to find or design a graphic that defines your brand. This is also the time to ask questions like, "Is the set-up fee per stock keeping unit (SKU) or per brand as a whole?" Next, you need to check on the minimum number of products you need to order per SKU. Order in small quantities until you have confidence that your product is selling. Then increase your order amounts. There may be additional lead time for production so it may take you a bit of time to get your ordering system under control.
To sum it up, private labeling is an incredible way to build your brand and help your clients achieve their skin care goals. Be smart about it, track your sales, and your skincare revenue stream can thrive!
In this post, we discussed how retail and marketing skills can help you increase your bottom line. Here are two tools to improve these skills:
Sales and Marketing Basics Online ClassMost of us could use some sales and marketing know-how. This easy-to-follow online class will show you the basics of everything you need to know.
Make More Money with Retail Online ClassEnd your love-hate relationship with retail by using this online class to learn everything from retail touchpoints to customer emotion and buying habits.
Mary Nielsen grew up in Minnesota but calls Portland, Oregon home for the past 30 years. She is the Executive Director of Spectrum Advanced Aesthetics Institute and serves on the board of Certified Advanced Estheticians for the state of Oregon. She is a happily married grandmother who has been thrilled to be working in the never dull field of advanced esthetics for over 17 years. She spends her free time outdoors or at her sewing machine.
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