I frequently meet retailers and distributors and they ask me very good questions - about the product, quality, pricing etc. Some of the questions are similar so I thought why not put them together for everyone to read.
Q1. Where do you see Gumtoo in next 1-2 years?
We started Gumtoo with a vision to create great designs and make those designs affordable. Creating a good product is the small part of the running any business. But the most important is to listen to your consumers and try new things based on the insights. At Gumtoo we listen to what consumer say and implement them fast.
To quote few examples
One tattoo Vs Two tattoos in a pack - In retail shops, we started by selling 2 tattoos of the same design in 1 single pack. But, we realized why would anyone need 2 designs in 1 pack. We pivoted and changed the packaging. Now we sell 1 tattoo in 1 pack and are pleased with the result.
Greedy Box - Kids love temporary tattoos and few of them want more tattoos and care less about designs. You give these kids 10 tattoos and within minutes you will find all of them on their body. We recently got this consumer insight and came up with the concept of Greedy Box. Kids get 20 random tattoos at $10. Well that’s a great price point parents.
Wait for more crazy options to be launched in the first quarter of 2014.
We aim to change the way temporary tattoos are sold and consumed around the world.
Q2. Do you change pricing for the country you retail in or its a standard price in all the countries?
Consumer is at the heart of everything we do at Gumtoo. The first question we ask before we launch Gumtoo into any country - what is consumer willing to pay? We take the inputs from our distributors and also test the pricing in 4-5 shops before the big launch.
In Singapore, based on initial testing we modified the pricing for singles - SG$$3 (US$2.25) for a single tattoo and SG$10 (US$8) for 4 tattoos. Consumers love this pricing.
In South African market, we produce the packaging locally to make the price point suitable for the consumer.
Q3. What help do you provide retailers to sell Gumtoos effectively in their shops?
We strongly believe that the retailers experience with Gumtoo should be great starting from buying from us and selling Gumtoo in their stores.
We offer marketing collaterals, gumtoo branded desktop stands and gumtoo branded pegboard displays as a standard kit. In some scenarios we have offered customised collaterals.
We want to make this as simple as possible for the retailers and impactful for the consumer. In one of the retail shops the sales person told me - "Gumtoo Tattoo Man marketing collateral has attracted passing by people to our shop. People were inqusitie and asken many questions." Apparently it increased the sales of other products their shop.
Q4. You sell Gumtoo tattoos at gumtoo.com. Would it cannibalise sales in the retail shops you sell?
We believe that temporary tattoos is an impulse buy and sales move much faster when you see them in a store. Having said that, we try not to cannibalise sales retailers sale. For that reason
We do not offer regular discounts on our website
New designs of established products are launched in the stores first and then launched at www.gumtoo.com i.e. after 1-2 months
In few countries we keep the price lower in stores in comparison to price at gumtoo.com
I will add more questions to this post in the coming few months. However if you have more questions, mail me at email@example.com and I would love to answer them.