Achieving Success With Dollar Stores When Profit Margins Are Tight

Achieving success with dollar stores can be a challenging proposition

. Almost all who open and operate one are doing everything possible to achieve success with their store. This is a great goal, but the roadblocks along the way can be difficult indeed. In fact just dealing with the ever-tightening profit margins is enough to send some store owner into a spin. Then add to that the fact that in many cases the very tight margins are associated with the most in-demand dollar store merchandise offered and it almost seems like a no-win situation.

In this article I present strategies to ensure you leverage high-demand products to maximize overall store sales.

Use high-demand, low-profit dollar store merchandise to generate traffic. This is especially the case where core consumables and other must-have products are concerned. Carry a good selection of the items we all need. Make your store a preferred place for more and more customers to come and make those purchases. Do everything possible to keep them coming in.

Force shoppers to walk through your store to locate the low-profit merchandise. Make sure these items are always in-stock, but also make sure shoppers will walk through other products to get to them. Keep your store looking its' best at all times. Fill end caps to the brim with great buys and hot-selling impulse items. Many shoppers will add these other, better-profit items to their total purchase.

Use popular high-profit dollar store merchandise to help offset overall costs. Think high-volume when the better profit items come to mind. Making the right purchases of these items can not only offset tighter margins, but with aggressive promotion they can mean overall profit growth.

Do not make the mistake of eliminating core shopper needs from the shelves. Since shoppers must purchase these items they will turn to your competitors whenever you run out. On top of that will be the added expense of working to try and regain these shoppers once they have left. You simply cannot afford this loss and still think sales growth will occur for your business.

Success with dollar stores is all about buying. Continually drive costs out of the dollar store merchandise you carry. You must always stay close to existing suppliers. Know their specials and sales, and take advantage to lower your overall costs. Attend industry shows and buy sale-priced items, especially tight-margin products, while there. Look for chances to make bulk purchases of these same items from liquidation and closeout companies.

To your success with dollar stores!

Achieving Success With Dollar Stores When Profit Margins Are Tight

By: Bob Hamilton

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