One of the challenges that every entrepreneur who is opening a dollar store faces is having the right amount of merchandise in-stock and ready for purchase. Even more important is the product mix to meet the wants and needs of the customer. Many owners invest their merchandise inventory dollars in low-cost items rather than creating the right mix of products. It is important to remember that the right mix will keep their shoppers excited and coming back time and again.
If you are opening a dollar store don’t make the mistake of tying up all of your merchandise inventory dollars in low-cost items. While the store may look fuller, many of the low-cost items are slow selling. Your goal needs to be to achieve as many inventory turns during the year as possible. Slow selling items simply won’t achieve that goal. Inventory turn occur when the right products to meet customer needs and wants are in-stock.
The right way to maximize sales is to create a mix of products across your store. Those who are opening a dollar store need to know that even though daily needs such as paper goods, household cleaners, and personal care items are expensive, they keep customers coming back more frequently. Once shoppers are in the habit of coming into your store for their bottle of dish detergent, they will also pick up a kitchen towel or a scrub brush. Those more profitable items can make the transaction profitable indeed.
Are you opening a dollar store? If so never forget the fact that sales volume is critical. Higher sales volume comes with having the right product mix in your store. It comes with intelligent merchandise buying. It comes with good merchandising and an eye on meeting the wants and needs of your customers. Give it a try.
