Dominate the market with best practices for retailers of licensed products

In the dynamic world of licensed products, competition is fierce. To stand out and succeed, retailers must stay ahead of trends and adopt best practices. At Cerdá Group, as a leading wholesaler of licensed products, we are passionate about helping our customers thrive in this market. That's why we've put together a comprehensive guide to best practices for retailers of licensed products.

1. 1. Know your target audience
   2. Choose the right licences
   3. Create an engaging shopping experience
   4. It offers a wide range of products
   5. Promote your products
   6. Offering exceptional customer service
   7. Keep up with the latest trends
   8. Harness the power of online sales
   9. Build strong relationships with your suppliers
   10. Analyse your performance and make adjustments

1. Know your target audience

The first step to success in any business is to understand your target audience. For licensed products, this is even more important, as consumer preferences and interests vary greatly based on age, gender, interests and other demographics. Spend time researching your target audience to identify their needs, wants and preferences. This will help you select licensed products that are relevant and appealing to them.

2. Choose the right licences

Some are more popular and recognisable than others. When selecting licenses for your shop, consider their popularity, the demographics of your target audience and the type of products you want to sell. Classics are always in fashion, so if you want to dabble in the world of licensing, start by introducing Minnie, Mickey, Marvel, Stitch…, etc. to your shop.
If you prefer to give your shop a fresh look, you can include items from Miércoles, Lotso, Cheshire, Bluey, Gabby’s DollHouse...

3. Create an engaging shopping experience

Your shop should be an attractive and inviting place for customers to shop. Make sure your window display is eye-catching and that your shop is well organised and clean. It is also important that your staff is trained to serve customers and answer their questions.

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4. It offers a wide range of products

Customers want to have choice when buying licensed products. By offering a wide variety of different licensed products, you will increase the chances of finding something that all your customers will like. It is also important to keep your inventory up to date with seasonal products such as scarves and hats for winter, towels and flip-flops for summer, and backpacks and pencil cases for back-to-school.

5. Promote your products

It is not enough to have great products in your shop if no one knows they exist. It is important to promote your products through different channels, such as advertising, social media and email marketing. You can also participate in local events and trade fairs to reach new potential customers.

6. Offering exceptional customer service

Good customer service is essential to the success of any retail business. Make sure your staff are friendly, helpful and willing to help customers find what they are looking for. It is also about knowing the technical features of the products you sell. A well-informed customer is a happy customer.

To make it even easier for you, thanks to our SuperMoments RetailLab Academy, you can access product training in video format.

7. Keep up with the latest trends

The licensed products industry is constantly evolving. It is important to keep up to date with the latest trends and product launches in order to offer your customers the best. You can also attend trade shows and industry events to learn about the latest trends and connect with other industry professionals.

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8. Harness the power of online sales

In today's digital age, it is essential to have a solid online presence. Create an online shop that is easy to use and navigate. You can also sell your products through marketplaces such as Amazon and eBay.

9. Build strong relationships with your suppliers

Your suppliers are key partners in your business. It is important to build strong relationships with them to ensure you get the best products at the best price. You can also work with your suppliers to develop unique products for your shop.

10. Analyse your performance and make adjustments

It is important to analyse your performance on a regular basis to identify areas where you can improve. You can use different tools and software to track your sales, inventory and other key data. By analysing your performance, you can make adjustments to your strategy to improve your results.

By following these best practices, you will be on your way to dominating the licensed products market.

Remember, at Cerdá Group we are here to help you succeed. We offer a wide range of licensed products from the most popular brands, as well as support services to help you grow your business.