As many of you know, I am the founder and president of Hot Picks. We produce a variety of unusual guitar picks, which vary in shape and design. Our original “Monster” collection has expanded into hundreds of lines, made possible in part by my Disney license. Recently, we’ve begun to sell these guitar picks in 7-Elevens.
Yes, 7-Elevens. The fit isn’t immediately obvious.
“7-Eleven? Really?” you might wonder.
We realized, fairly quickly, that guitar pick collectors aren’t necessarily guitar players. The picks are functional AND a novelty item – kids buy and collect them simply because they like them. We needed to tap into this market, a market largely inaccessible in music stores. This desire was heightened when our largest distributor unexpectedly dropped us several months ago. I blogged about the event, how the “big guys” were slowly starting to take notice AND action.
Pursuing 7-Eleven was a potential solution. The numbers don’t lie. There are approximately 5,000 stores devoted to selling music-related products in the United States. There are 156,000 convenience stores, 5,500 of which 7-Eleven owns. If the guitar picks fared well in c-stores, the potential profit was enormous. We’d have access to both our new target demographic and countless markets.
Our strategy was clear: get into convenience stores and out of the trouble our lost distributor had caused.
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