If you’re a private label seller / developed your own brand.. large, medium, small, it doesn’t matter… right now, our entire economy is going to retract.
If people are not making money, working for basketball games, working at trade shows, working in travel and hospitality, working in restaurants, working in shopping malls, then they are not spending money. Those are your consumers, and it’s not just those employees. It’s all the businesses that flourish around major events. Modell’s Sporting Goods here in New York has been around for over 100 years, filed for bankruptcy. That was a pre-corona, pre-stock market crash. The whole travel industry, done.. and that means everyone who works in the travel industry and everyone who makes money around the travel industry is also going to tank.
When it comes to selling a private label brand, you need to maximize every single sale & there’s 2 ways of doing that:
#1: Make sure you’re getting every single sale.
Contact Rob Segall. Rob leads our brand protection unit here at the firm. He can set you up where we’re monitoring every single product that you sell, every ASIN, and see who is on that listing. If it’s an authorized seller who is delivering the exact same products as the consumer, then you can’t do anything about that, but if you have hijackers getting your product, selling counterfeit products, and cannot fulfill your warranty, cannot deliver the same exact package of benefits to every single consumer, then Rob could monitor. We can send cease and desists, which are extremely effective. We can then make complaints when appropriate, and we do brand protection for sellers the right way. We are not a Vorys law firm. We do not make BS claims against third party sellers. We are there to protect your brand.
#2: Maximize your profit on every sale.
By protecting your brand the right way, we also avoid the negative feedback and dirty tricks that sellers may do if they are needlessly put out of business. So, the second thing you can do, brand protection is number one, the second thing you could do is to make sure that you are maximizing your profit on every sale. We can’t protect your sales. You need to maximize your profits. Now, how do you do that? You do that through inventory control. If you are selling out of your inventory too quickly and going to run out in Q3, and may be out of inventory for Q4 because your factory in China may not get you another load of products, or your product is made here in the United States but your factory is reliant upon raw materials in China, then you need to make sure your inventory lasts. How do you do this? You raise prices. Supply and demand. Your sales may slow down because your price is a bit higher, but the brand protection is stopping anybody else from selling your products. Also, your inventory is going to last longer.