I have a skincare brand of organic, natural, vegan, and cruelty-free products. I have 3 products so far and formulas for the rest of the line but it has been very difficult to get sales and I am thinking of selling the inventory that I have (2,500 bottles of each one of my three products), and then analyze how to relaunch the brand. But first, I need to monetize and the only way to do this is by selling my inventory. Should I find a distributor and if so, where do I find a good one?
First of all, well done you for starting a business and taking a risk! Tricky especially with the minimum order quantities that you had probably to submit to....
It is really difficult to answer your question as we don't know if your product is not selling because the product is bad, the price too high, the target group is wrong, the ads are not connecting or the distribution channels are wrong, or all of this or something else :)
In anycase, in general you will most likely sell those products at loss whatever the channel you select. Therefore my suggestion, assuming your product is good (we could spend time defining what "good" is but let's keep this for a future discussion), is to send it as a gift to people that :
- can give you feedback or reviews on the product
- can be your future partners (Social media influencers, journalists, retailers...)
- family and friends .... and anybody who you could ask a favor to in the future ;)
Before you do that, I'm happy to jump on a call to understand what should be fixed in your offering, communication or distribution. It might be only a couple of elements.