While setting clear expectations should be thought out at the beginning of the partnership, effective communication is a skill that needs to be continuously employed over the course of your working relationship.  

On a daily basis, you and your retailers should be able to effectively and concisely communicate changes in inventory, pricing, new products, shipment tracking, and receipt confirmation, among other variables.

Overall, this helps to avoid any mistakes and disruptions. Namely selling out-of-stock items or incorrectly priced items.

4) Provide Something “Extra” for your Retailers 

In order to become your retailer’s favourite vendor, you have to step outside of the box. This can work as an incentive for them to prioritize your products, run collaborative promotions for your products, or simply present your products in a particularly attractive way that stands out from the rest.

In order to avoid being viewed as just another commodity, here are some ways that you can impress your retailers.

a) Offer promotions

b) Provide hassle-free return policies

c) Give them early access to new products

d) Supply striking product photography

e) Send them samples or test products  

5) Invest in the Right Technology and Networking Tools 

All successful business owners can agree that you cannot do everything on your own. Manual processes are not saleable and some things are only possible with the right team of people and the right technology in your corner.  

We suggest finding an inventory management software that creates feeds. For instance, Duoplane is a dropship automation software that allows you and your retailers to seamlessly communicate and serve your mutual customer in the best way. With a sophisticated system like Duoplane, you can automate your inventory feeds, catalog updates, purchase orders, invoice payments, and many other parts of your backend processes.

Additionally, if you are having trouble managing your warehousing and shipping on your own, it may worthwhile to outsource to a 3PL (third-party logistics). You can learn more about a 3PL strategy here.

Ideally, vendors and retailers work together to identify the systems and technologies that best serve their mutual end customer. Should these technologies be accessible and mutually beneficial, we highly suggest keeping a vendor and retailer portal in the same system. 

Overall, it is critical to keep an open, honest, and clear relationship with your retailers to ensure success. Be true to your business, but also trust your retailers as a resource for new insights, growth strategies, and marketing assistance. The extent to which retailers and vendors can forge and maintain highly effective will determine the experience they provide to their mutual end customer and their ability to thrive in today’s e-commerce world.