How to improve your sales in retail with Licensed Products?

21 May 2021 / por Cerdá Group

increase your store profit

The e-commerce world is booming, nowadays, with new companies and brands gearing up to enhance their consumer reachability. In such a competitive market, you have to be smart as a business owner and increase your chances of earning a healthy profit. A good way to do that is to put your trust in licensed products to improve your profitability.

What are licensed products? 

You must have heard about franchises and how they help in providing you safe and certain profits as a business owner. Licensing products works almost the same way. When you license a product, you are asking permission to use a brand's name and make its goods. You can then sell those goods in a defined market area to gain profits. This model works perfectly because you do not have to work too hard to sell the products, and it is almost certain that you will get a profit.   

 

You might also be interested in: License consumption per customer age

 

Can you increase your sales with licensed products? 

As with anything, there are a few advantages and disadvantages of selling licensed products. You have to weigh the two to get a better idea of the challenges you will face and the benefits you will get by acquiring a license. 

Advantages of selling licensed products

  • Proven Customer Base: Since you are selling an established brand, you won't have to work too much to sell it. Customers will visit your store to buy the in-fashion goods that have an impressive market reputation. Therefore, it is also crucial to stock licensed products of a well-known brand. 
  • Limited Marketing Required: You have to adopt an extensive advertising campaign to create awareness for a product, and only then it sells well. However, with licensed products, you get 'free advertising' as the licensing company does all the work for you, and you have to stock their products in your store. 
  • Fewer Chances of Loss: There are very few chances of you going in a loss because licensed goods are proven to be moneymakers. You are taking a small risk to improve your profitability ten-folds.

Disadvantages of adding licensed products to your store

  • Store Reputation: Your store should have a decent reputation in your area before a company even thinks about offering you a license. It is not easy to get one, so you must be very concerned about your store's reputation in the eyes of the customer.
  • Limited to Areas: When a company licenses its products, it is doing so to increase its outreach and customer base. If your store is in an area where the company already has good sales, there are not many chances for you to get a license.  

 

improve your sales in retail with licensed products

Strategies to increase sales in retail with licensed products

It is one thing to have licensed products, and it is another to sell them. You need the right mindset and the perfect tools at your disposal to be successful and improve your store profitability. One way to do that is to trust a professional to do the job for you. Many skilled businesses have the experience of selling licensing products. You can contact them and improve your profitability. 

Moreover, you should work on your marketing. Yes, the licensing authority is doing the marketing for its products, but it helps if you chip in with your campaigns and make the difference, especially in your area. 

Cerdá: your trusted wholesaler of licensed products 

The best way to improve your profitability is to trust someone like Cerdá. The company has a vast experience of selling licensed products and what to do to succeed.

 It is their wholesale rates and incredible customer service that has earned them such a high station in the market. Cerda’s outreach and customer base are enough to satisfy any licensing brand and improve your profitability, which is why you should not hesitate to put your trust in us.

 

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