Getting good results with dollar stores can be quite a challenging proposition. Almost all who open and operate one are doing everything easy to be successful using their store. It is a great goal, however the roadblocks in the process can be difficult indeed. In fact just dealing with the ever-tightening profits is sufficient to send some store owner in to a spin. Then add to that the fact that most of the time the very tight margins are related to the most in-demand 99 cents items wholesale offered and it almost appears like a no-win situation.
In this post I present strategies to ensure you leverage high-demand products to maximize overall store sales.
Use high-demand, low-profit dollar store merchandise to create traffic. This is especially the case where core consumables along with other must-have goods are concerned. Possess a good collection of the products we all need. Help make your store an ideal location for increasingly more customers to come making those purchases. Try everything possible to keep them to arrive.
Force shoppers to walk using your store to find the low-profit merchandise. Make certain these products are always in-stock, but in addition ensure shoppers will walk through other products to access them. Keep your store looking its’ best constantly. Fill end caps for the brim with great buys and hot-selling impulse items. Many shoppers will prove to add these other, better-profit things to their total purchase.
Use popular high-profit dollar store merchandise to help offset overall costs. Think high-volume if the better profit items spring to mind. Making the correct purchases of those items are unable to only offset tighter margins, but with aggressive promotion they can mean overall profit growth.
Do not have the mistake of eliminating core shopper needs from your shelves. Since shoppers must purchase these products they are going to turn to the competition whenever you run out. On top of that would be the added cost of working to try to regain these shoppers when they have left. You simply do not want this loss and still think sales growth will occur to your business.
Include space for bulk displays, impulse items and seasonal products. While many dollar stores run their fixtures directly to the checkout area, consider another idea. Provide space for bulk displays and impulse items in the region aiabpe the checkout area. You’ll find shoppers will eagerly grab a few extra items in this area because they are approaching the money registers. In fact your normal shoppers will appreciate the new, varied items they find in this region whenever they come shopping within your store.
Once you begin a dollar store don’t forget to make use of the walls as merchandise display area. Using the walls for dollar store merchandise display will build sales, and profits for your store. Want to hang items through the side and rear walls in your store. When you are designing your fixture layout will definitely allow adequate room for peg hooks and shelves to become placed in these areas. Don’t make things so tight shoppers can’t make do as other people are examining items hanging along a wall.
Success with dollar stores is centered on buying. Continually drive costs out from the dollar store merchandise you carry. You must always stay close to existing suppliers. Know their specials and sales, and make use to reduce your overall costs. Attend industry shows and get sale-priced items, especially tight-margin products, while there. Look for chances to help make bulk purchases of these same items from liquidation and closeout companies.