This is an unlisted video sent by Walmart, this video explains what they expect and the 6 points to cover. All the questions below come from this video.
The below answer are to assist in making a killer presentation. Many of the answers are vague and need life.
PRODUCT - 10 Slides [The Product should be the highlight (10/20 Slides) of the meeting]
Need a solid answer for this – here’s our competition.
Walmart Canada: (already SOLD here for 10+ years)
People are lazy and Speed-Sew is the fastest way to fix a fabric tear or a rip.
Save time and money by fixing things with Speed-Sew
Click here to see #SpeedSew on Instagram.
Click here to see our Amazon.com reviews.
- 60% Female
- 40% Male
- 71% are 18 – 44 years old
- Home Hardware
- Canadian Tire
- Hudson Bay Company
- Value Drug Mart
- Many other boutique retailers
PRICE - 2 Slides
Our cost structure is lean, our main overhead is production and inventory.
We rent space per pallet in warehouses.
There could be a few pennies saved on printing the cards & blisters if we did it overseas.
Our suggested retail is $7.97
- Your margin will be ~ 60%
We are higher priced but also higher quality.
Our tube is ~ 10ml more in size and ~ +$2/tube.
Costs can be reduced with volume and volume is something Walmart can do.
Yes is the answer.
Volume for sure and make sure the logistics are planned in advance to keep costs under control.
Packaging is pretty streamlined right now and very efficient.
If we can produce and ship directly to a Walmart warehouse from production this will save double shipping and a secondary storage place for the product.
YES there are discounts.
Our prices decrease with volume.
Yes we can take returns.
We do not want the product back. If there is a return we deduct it from the next invoice.
Inventory, Production (cost of goods sold) & Marketing.
PROMOTION - 3 slides
2021 we re-branded with a new website, fresh card and tube. The new look (right image below) is just hitting retail shelves now.
The new look was decided over months of A/B testing by engaging with our customers and thoroughly tested via online ads to see which card created the highest engagement. We had five slightly different designs, and the red design you see below won by a landslide. It wasn’t even close.
We had professional product images created as well – https://drive.google.com/drive/u/3/folders/15XwVWXzSqF0qGXowT6J8HeExmrUJzJ5v
In January 2022, we started online advertising and a solid social campaign releasing 1 YouTube video a week ( https://www.youtube.com/c/SpeedSewFabricGlue)
We’re also posting on all the main channels (Facebook, Instagram, TikTok, Pinterest, Twitter) as well as posting a blog post every two weeks, which are all optimized for specific keywords to increase our search engine optimization.
We already have emails and social posts scheduled until the end of 2022. Rather than schedule into 2023, we are now increasing the frequency of posts in 2022.
We certainly are getting increased fan engagement. We are also finding content created by our customers.
An immediate metric is our online sales which have dramatically increased and our reviews on Amazon have gone from a handful of reviews to 130+ reviews.
A majority of our engagement is from the USA too.
PLACE - 2 Slides
Crafts & Sewing
That’s where it’s been inside Walmart Canada for over 10 years.
1 Million tubes per year.
We are the manufacturer and we sell to resellers and retailers directly.
If the spike is planned (e.g. a PO from Walmart USA), we will start planning production to meet the increased needs.
Ideally, we have six months lead time, but we could probably meet the demands in 4 months.
Speed-Sew is not a seasonal product or dependent on certain climates.
Speed-Sew is a national product in Canada and I would say it fits best as a National product in the Unites States too.
Yes absolutely, it costs nothing to add the product to walmart.com.
We are on Walmart.ca – https://www.walmart.ca/en/ip/speed-sew-fabric-mender-not-applicable/6000114809990
RESPONSIBILITY - 1 Slide
My whole life we’ve been involved with charitable organizations and I currently sit as a director on a charitable foundation which donates money annually to youth at risk (our main focus).
Helping those in need is engrained in me. Many of the charities I see have volunteers but they are always in need of money.
I know for a fact if we added a zero at the end of our donations they would be consumed just as fast. $100k or $1M we can find a way to help others with it.
USA Manufacturing – Our manufacturing is 100% in the USA – Hamshire, IL currently
An ethical audit has been done at our production facility.
Supplier Inclusion – Anyway we can help, we are 100% open to it.
Responsible sourcing – The only thing we buy overseas right now is our tubes. We buy them out of India. Everything else is made in Canada or the USA.
Sustainability – We only use vegetable-based oils in our inks. No mineral oils are used. The cards and tubes are recyclable. Mineral Oil Declaration
Acquired by my father in the late 80s and has been family-owned since.
I personally did production with my dad for almost 20 years until early 2000 when we started manufacturing out of Hamshire, IL.
Now my two daughters work closely with me.
People, profitability, ethical, quality
- D-U-N-S: 203830062
- SER risk rating: 3
- EIN: 98-1643542
The ideal lead time is 6 months now because of the delays with getting materials and scheduling production.
We can get things done in 4 months if needed because we keep 100,000 tubes on hand. If demand increases we will increase our on hand tubes accordingly.
Tubes are the bottleneck as they come from India.
We have warehouse inventory in:
- Hampshire, IL, USA
- Hamilton, ON, Canada
- Richmond, BC, Canada
We will certainly outsource warehousing on the west coast USA if needed.
Head Office is in Vancouver, BC, Canada
Our production capacity is only at 10%
Most of our shipments are by the pallet.
Our cases have 144 tubes per case.
4 cases per row, 7 rows high for 28 cases per pallet.
We used third-party logistics for storage and shipping. We would just send more pallets to be stored and /or find more warehouses to help with storage.