First Product Launch
After over a year of production and negation I successfully launched my first product in February 2022. This was a collaboration with Squishmallows.
When I began my career in buying, I possessed a wealth of knowledge about popular plush toys, thanks to my experiences in stores and my personal enthusiasm. I recognized Squishmallows as an emerging brand in February 2020. By the fall of that year, we introduced our initial stock assortment, and I promptly proposed the idea of an exclusive to my buyer. She agreed, allowing me to take the lead on product design, specifications, and retail strategy. This was our first experience working with Squishmallows, and as the brand evolved, we gained significant insights. I acquired knowledge in costing, sourcing, approvals, open-to-buy metrics, store communications, online launches, reorders, and preorders through this initiative.
After our product received approval and was set to launch, I was tasked with conducting market research to determine our retail pricing since there weren't many exclusives available at that time. We opted for a retail price of $19.90, which was higher than the average grocery store price. Following this successful launch, we observed a rise in other retailers also offering exclusives, leading to an overall increase in retail without any hesitation from customers. I needed to collaborate closely with our planning team to ensure we achieved our IMU goals.
Once we confirmed the retail price and launch date, it was crucial to relay this information to stores. Stores were instructed on when to display the product and how to manage customer demand. We also coordinated with the web team for a simultaneous launch in stores, resulting in a sellout in just 5 minutes.
Following our successful launch, we approved a variety of styles and began producing additional sizes. Like any product, we remained vigilant to ensure we had plans for the end of its life cycle.
Overall, this launch provided me with a rapid, hands-on experience from inception to completion.
Below are some photos from stores and customers during launch and additional Squishmallows I helped produce. Plus my initial drawing in January 8, 2021.
