E364:🎓HOW TO BREAK INTO NEW INTERNATIONAL WHOLESALE MARKETS, HOW TO DO COLD OUTBOUND RIGHT AND MORE!

Expanding Your Equestrian Brand: Strategies for Wholesale Success

Welcome to another segment of Mentoring Moments, where we tackle pivotal business questions through real mentorship experiences. Today, we're discussing a topic many direct-to-consumer (DTC) brands face: how to effectively expand into new wholesale markets. Katie-lea Quigley is the Founder and Director from Equipad Equestrian, an Australian equestrian brand. She is eager to explore this opportunity so let's dive into the strategies and considerations for successful wholesale expansion.

The Importance of Diversification

Relying solely on a DTC model can be risky. Diversifying your channels, both in sales and marketing, is crucial for stability. Ideally, a balanced split between DTC and wholesale channels, such as a 50-50 divide, can reduce your business risk. Embracing wholesale expansion is not just about growing—it's about safeguarding your brand’s future.

Validating New Markets

Before diving into a new market, validate its potential. A cost-effective method is to explore online marketplaces. Consider selling on Amazon Business in the United States. This allows you to test the waters without heavy initial logistical investments. Also, explore niche marketplaces specific to your industry, which might provide valuable insights and opportunities.

Engaging with Distributors

Engaging distributors in new regions can streamline your market entry. Establish initial dialogues with local distributors to understand their requirements. Investigate their current market relationships—particularly with major retailers. This can help you identify which distributors can offer significant value beyond mere storage facilities.

Discuss potential terms upfront, ensuring flexibility. Remember, you want to maintain control over pricing or terms, not both. This approach can help build a sustainable business relationship.

Exploring Retail Partnerships

Don’t limit your focus to equestrian-specific retail chains. Sporting good stores, like Dick’s Sporting Goods in the US, might also be valuable partners. Even if they don't carry equestrian products in-store, they might be interested in offering them online. This broadens your reach and taps into adjacent markets.

The Role of Technology

Leverage technology to bridge the gap between your product's physical and digital presence. Platforms like ‘Locally’ can help consumers find your products in nearby stores, driving foot traffic to your retail partners. This is crucial for increasing your product’s visibility and demand in physical outlets.

Advertising Strategies

Use geo-targeted ads to drive store traffic. Collaborating with retailers on ad campaigns strengthens your partnership and increases mutual benefits. Consider co-funding these campaigns or offering advertising credits to retailers. Highlight your products alongside their brand in ads to enhance credibility and connection.

Preparing for B2B eCommerce

Eventually, consider setting up a dedicated B2B eCommerce platform. Initially, apps like SparkLayer on Shopify can add the necessary functionality. As your wholesale business grows, you might need to transition to a more robust platform that supports features like EDI and customized pricing tiers. Planning these steps now keeps your growth structured and intentional.

Conclusion

Expanding into wholesale markets requires thoughtful planning and strategic partnerships. By validating new markets through online platforms, engaging distributors effectively, exploring diverse retail partnerships and leveraging technology, you can successfully grow your equestrian brand. Always keep an eye on maintaining a balance between DTC and wholesale channels, ensuring your brand’s resilience against market shifts. With these strategies, Equipad and similar brands can confidently navigate the complexities of wholesale expansion.

To learn more, check out the related THE ECOMMERCE EDGE Podcast episode below: