Focus on Dollar Store Merchandissing
If you are about to start a dollar store, the best area of interest for you should be the merchandise offered in your store. Whether it's locating the best dollar store suppliers, identifying the products your customers need, negotiating the lowest possible prices, determining the best way to display merchandise to maximize returns. sales, the merchandise should always be the number one priority for you. In this article, I outline 5 key areas of merchandise once your store is up and running.
1. Dollar store suppliers
Your decisions about your store's suppliers are critical. You rely on your suppliers to always have products in stock and available when you need them. You depend on them to pull, palletize and ship your merchandise exactly as they communicate. You will count on them to always be there to respond quickly to questions, problems and concerns.
2. Dollar Store Merchandise
When you start a dollar store, it all depends on the merchandise you have on hand and available to your buyers. Always focus your purchases on the essentials of life first. These are the items they must have. These are the items that draw shoppers to your store time and time again. Your shoppers will quickly lose loyalty to your store when you drop these items out of stock. Cleaning supplies and household supplies, paper items, and products in HBA areas are included.
3. Merchandising techniques
When you open a dollar store, learn all the basics of merchandising the products you sell in your store. Then apply these techniques at any time. Learn how to cross off the merchandise and train all of your staff in the same way. Use end caps and loose screens properly. Learn the principles of proper in-store signage, then apply them in your store.
4. Replenishment of merchandise in dollar store
Don't let your store's inventory dramatically drop before you create and place an order for restocking merchandise. You work in a very high volume business and there will often be a 2 to 3 week delay before items arrive from your suppliers. Your store shelves can literally be empty by the time the merchandise arrives. Develop a replenishment inventory level for all critical items and, when that quantity is reached, generate an order.
5. Quick arrival time to sales
Just as you rely on your suppliers to process and ship your orders quickly, you also need to receive and display products quickly. Create a flow of goods from receipt to actual placement on your sales area. Establish time frames for merchandise to participate in the process. Then get to those numbers.