Build Impulse Product Sales When Opening a Dollar Store
Every entrepreneur who opens a dollar store faces the challenge of finding the right merchandise to increase sales. While they hope to find and purchase items that will appeal to buyers, they know there is a bet whenever huge amounts of new, never-shipped items are purchased. After all, unless the new store owner is well aligned with the customers and their needs and wants, the products they sell can miss the mark altogether. What they had hoped would be that the next hot-selling product might end up collecting dust if they made a mistake. In this article, I present a winning tactic for increasing sales while reducing exposure to bad buying decisions.
If you are opening a dollar store, one thing is for sure; buyers really want those basic consumables that give you a very tight profit margin. In fact, some homeowners don't realize the huge opportunity they have and are reluctant to purchase some of these items. They allow these items to run out completely and will leave shelves empty for days, if not weeks at a time.
Yet it is the dollar store merchandise that attracts buyers time and time again. When you leave store shelves empty of these items, shoppers look for them elsewhere. After all, whether you like the profit margin or not, these are essential parts of your success. So why not develop a strategy to capitalize on this opportunity in your store?
First of all, let's clearly see what these basic consumables include. Items in this category include paper products such as paper towels, toilet paper, plastic garbage bags, tissues, plastic lunch bags, snack bags, and storage bags. Other items include household cleaners such as dish soap, automatic dishwasher soap, laundry detergent, fabric softener, bathroom and kitchen cleaners and more. Many health and beauty items also fall into this category. Dollar store products such as hand soap, liquid soaps, shampoo, hairspray, toothpaste and more could also be included.
When you open a dollar store, these are all things to add to your starting inventory. However, also consider turning these items into impulse items when the right buying opportunities for that dollar store merchandise arise. Shop in volume and then display these items on end caps, bulk displays, and other displays in your store when possible. The larger screens will remind all buyers to include them in their purchases for the day. Many who did not intend to purchase these items will add them to their purchases. Your store's total sales will increase, and if you've bought well, your profits will increase as well.