Minimize your Dollar Store Merchandise Inventory – Except…
Minimize your Dollar Store Merchandise Inventory Except
A good rule of thumb for every retailer is to minimize the amount of inventory on hand at each of your locations. After all there isn't a need to maintain a warehouse full of excess inventory back stock just to make sure replenishment items are available after each sale. Maintaining some level of inventory on a few critical items makes good sense. Yet in most cases a quick replenishment order is all that is required for success with dollar stores. However there are exceptions to this rule. In this article I provide an overview of a buying strategy to keep only the right products readily available at all times.
Buy and carry 'just enough' of most day-to-day merchandise.
There is no need to have a huge storage area filled with general merchandise. However having a small inventory of impulse items and seasonal products is one of the keys to success with dollar stores.
Buy enough of products for end caps, bulk displays, window displays and other large quantity needs. Turn your sales floor into the warehouse with bulk and storefront window displays. End caps are a different story. It is wise to maintain a small backup inventory of end cap display items to keep the end cap stocked and looking fresh at all times.
Buy enough core consumables to meet customer needs so they are always in-stock. The core consumables your shoppers need on a routine basis must always be in-stock and waiting for shoppers. These items are worthy of a little back-up inventory being held in the stock room.
Achieving success with dollar stores requires that you don't forget the basics to keep inventory selling quickly. If you are running a dollar store shop for the best wholesale prices, properly sign end caps and other displays, and always keep your store merchandise properly faced up.