How to Effectively Evaluate Your Online Company Store and Vendor

Evaluating your online company store and vendor can be complex. You probably worked with them for years, then they built a company store at your request. Do you know what else is out there and how your store stacks up? Does it integrate and solve your internal challenges pertaining to company swag and uniforms? Comparing your company store and vendor to others can be challenging, as each corporate program is unique. To truly evaluate your store and vendor, you need to determine your ideal scenario and see how they measure up. We have built tools to help with this process.

What to Expect from Your Company Store and Vendor

To determine if you have the right vendor and store, consider the following:

• Store Technology: Are you aware of the latest advancements and integrations available?
• Product Options: Does your vendor offer a diverse range of products that suit your company’s needs?
• Inventory Management: How does your vendor handle inventory? Is it on-demand or stocked?
• Service and Support: Is your vendor providing the level of service and support you need? Do you have integrations with your ERP?

You won’t know if you have the right store or vendor if you don’t understand what is possible versus what you have in place. Educate yourself on what is possible and what are the options in the market based on your company spend. Small programs (under $100K per year) will have some good options but not as robust as larger programs. First, understand what your ideal program looks like. Dream a bit, then figure out if your vendor is fulfilling those needs. You and your vendor need to be on the same page, so discuss what you want and see if they can deliver.

Selecting the Right Vendor

All distributors have access to the same products. There are very few exclusive items in the swag world, so your vendor choice should focus on service and solutions rather than products. Key factors to consider include:

• Annual Spend: How much does your company spend on swag and uniform programs? This will determine which vendors will be interested or capable of running your program. The larger the program, the more customization and integration options.
• Buyer Demographics: Who is purchasing from your store, and why? Employees purchasing single items for themselves is very different from buyers purchasing in bulk for trade show giveaways.
• Employee Funding: Does your company fund these purchases for employees? Do you give employees points for birthdays, anniversaries, or rewards? Company stores without funding don’t work well. While people might like company swag, most won’t spend their own money on it.

Understanding these factors will help determine the type of store, products, and technology you need. iCoStore carefully evaluates potential clients based on these criteria to ensure a good fit for our on-demand production model.

Finding the Perfect Fit

While iCoStore can manage most types of online company stores, our experience has shown that we excel in specific niches. We focus on clients where we can solve a problem and where they will see great benefit from our services. Stores need specific volume and they need to be funded. If a prospect doesn’t fit our model, we refer them to other vendors who might be better suited to their needs. Choosing the right vendor is crucial. There is a vendor for almost every program, so do your research. Many vendors may claim they can meet all your needs without fully understanding your challenges. The true value lies not just in sourcing products but in building processes and tools that streamline your purchases and integrate with your systems.

Partnering with a Transparent Vendor

Transparency is key. Work with a vendor who is honest about their capabilities and willing to understand your business needs. Success isn’t just about selling products; it’s about offering the right products and providing seamless integration with your systems. Look for a partner who offers effective solutions and understands your challenges.

Resources and Next Steps

We offer several resources on our website to help you evaluate your online company store and find the right solution, including a white paper on how to select the right vendor. Additionally, our store survey assesses your current online company store, providing a comprehensive report with insights and suggestions for working with your current vendor or finding a new one. Take the 8-minute assessment to receive a detailed evaluation of your current program with suggestions for improvement. If you want to discuss your results or seek advice, feel free to reach out, even if we’re not the right fit for your company. We want you to be armed with knowledge so you can find the right solution for your program.