Tag: Costco Vendor

Costco Returns

By vendorco

f you are a Costco shopper, you are likely familiar with Costco’s guaranteed return policy (with the exception of certain electronic equipment). You may read Costco’s full return policy here: http://www.costco.com/returns-replacements-refunds.html.

How does this policy affect you as a vendor, or a potential vendor? Many manufacturers and service providers find the guaranteed return policy to be intimidating; however, the percentage of sales to returns is often much lower than many vendors anticipate. If an item has a larger than expected return rate, this is likely due to an issue with the product or the instructions, rather than the member simply changing their mind.

All in all, Costco’s guaranteed return policy should not be a reason to avoid the enormous potential a Costco program has. If this is a large concern, VendorCo can help put you at ease by efficiently planning for inevitable returns, reviewing your product instructions and packaging to keep the return rate low, providing data to explain typical return rates and reasons for return, and answering any unique questions you may have.

To take advantage of our expertise and understand of Costco’s return policy, contact us today at (949) 326-8909 or [email protected].

How do I sell to Costco?

By vendorco

Selling products to Costco is a dream of many (if not most) manufacturers and service providers. With the potential to place your products in hundreds of stores nationwide, with millions of members to view on monthly basis, who wouldn’t want to partner with this retail/wholesale giant?

However, only a select number of manufacturers and service providers actually succeed at selling products to Costco. This is partially due to Costco’s limited SKU count of approximately 4,000 items per store (compared to WalMart and Target with upwards of 100,000 SKU’s!). But for most vendors, this is because the processes and procedures required to navigate Costco Wholesale can be vastly distinct from other retail avenues. Most executives and administrative personnel, even those who are avid Costco shoppers, are unaware of the unique buying strategies utilized by Costco’s corporate contacts. Obtaining this information can prove to be exceptionally difficult, if not impossible, and the sales techniques you are accustomed to using may actually serve to undercut your potential relationship.

So how do you sell to Costco? How do you sell to Costco.com?

This month, we will provide you with essential information to best prepare for your Costco program, including information pertaining to how VendorCo can help you. VendorCo is a full service manufacturer representative company specializing exclusively in Costco Wholesale programs. With over a decade of Costco specific experience, our Senior Account Managers can be an invaluable asset to your Costco program. You can read just a sample of our success stories, and imagine the success your product or service can have with a global retailer like Costco.

Ready to get started now? Contact VendorCo to speak with a Costco expert at [email protected]

Starting Fresh: Current Vendors

By vendorco

Current Costco vendors may not see a need for expert representation; however, there is always room to grow and increase your revenue within retail. Many manufacturers manage to bring themselves to Costco vendor status without representation, but they may not be aware of the many opportunities available to vendors. Expert representatives can inform current Costco vendors about opportunities that they should take advantage of while in the Costco stores, through Costco.com, or through other avenues of Costco Wholesale.

Additionally, there is always a risk of being pushed out of Costco once your program or season is finished, and it is not guaranteed that you will be brought back. Expert representatives can help current vendors keep their products inside of Costco and strengthen their current programs potential through their knowledge and understanding of inside processes and procedures.

If you are a current Costco vendor interested in increasing your programs potential, contact VendorCo today for expert representation: www.vendorco.com/contact-us

September Blogs – Starting Fresh!

By vendorco

This month will be all about starting fresh in regards to your vendor relationship with Costco. Now is the time to re-evaluate your relationship with Costco, whether you a current vendor, a prospective vendor, or if you have been denied by Costco before. Make September the month of fresh starts and strengthened relationships.

Starting fresh: prospective vendors

Starting fresh: current vendors

Starting fresh: past vendors (for those who have been denied before)

Starting fresh: expert representation

Starting fresh: VendorCo Representation

Check back throughout September for blog updates!

What are the dangers of working without a Manufacturer Representative?

By vendorco

Without proper knowledge and proper representation, your company may be subject to missed opportunities, from a revenue standpoint, and a brand building position.

Some of the dangers we have seen with companies that choose to navigate retail independently include undercutting price point, missed product opportunities, inappropriately packaged items, poorly targeted demographic, flawed revenue calculations, and much more.

The risks involved with a qualified manufacturer representative are minimal, but the benefits are vast. Working with a manufacturer representative requires little to no investment, and high payoffs. Given this information, it only makes sense to find the right manufacturer representative for you company.

The History of Costco

By vendorco

The first Price Club warehouse opened in 1976 in an airplane hangar on Moreno Boulevard in San Diego, California for business shoppers only. The unbeatable prices and bulk packaging appealed to business consumers everywhere, and it’s no surprise that over the next ten years it would bring in 3.2 million members, 22 warehouses, and become Forbes Magazine’s “Best Managed Company”.

Founded by James (Jim) Sinegal and Jeffrey Brotman, the first Costco Warehouse opened in September 1983 in Seattle, Washington – the current home of Costco’s corporate offices. By the end of Costco’s second year in business it would open 9 additional locations in 5 states, as well as the first expansion into Canada. Later, Costco would become the first company to grow $3 billion before its sixth year.

In 1993, Costco’s 10th anniversary and Price Club’s 17th year in business, both companies merge to create PriceCostco. With locations in the United States, Canada, and Mexico, 1993 proves to be a monumental year with the first international expansion to the United Kington in West Thurrock, Essex, England. The international expansion would continue to Korea (1994), Taiwan (1997), Japan (1999), Puerto Rico (2001), Australia (2008), as well as expansions online through Costco.com and Canada’s equivalent, Costco.ca.

PriceCostco officially changes its name in 1997 to what we know now as Costco Companies, Inc.

Today, Costco is the leading warehouses/Big Box retailer by sales volume, exceeding Wal-Mart’s Sam’s Club and BJ’s Wholesale. Founder Jeffrey Brotman continues to sit as the chairman of Costco’s Board of Directors, and Founder Jim Sinegal is Costco’s CEO (soon to be replaced by current COO Craig Jelinek). Costco continues to prove their “consumer first” business model through the creation of new and unique business concepts, included Costco Pharmacy (1986), Produce and Bakery (1987), Optical Labs (1987), 1-Hour Photo (1989), Hearing Aid Centers (1994), Costco Gas Stations (1995), Costco’s Business Centers (1996), Costco Travel (2000), Costco Home (2003), and Car Washes (2006).

Want updates on Costco news and developments? “Like” us on Facebook or follow us on Twitter for daily updates.

Ref:

http://www.costco.com.au/About/History.shtml

http://en.wikipedia.org/wiki/Costco#History

We Are Proud To Have Worked With

Amazon Book: 15 Elements of Successful Product Placement

Click Here

Contact Us

Phone : 949-326-8909
Email : [email protected]