subject: Stay On-top Of The New Dollar Store Items Just Coming To The Marketplace [print this page] There are many new dollar store products out there that can make you money. Just relying on what's always worked can prevent you from reaching your full potential. There are many ways to find out the best products to buy, and here are 5 strategies that work:
#1) Spy on competitors
If you own a dollar store, then you already know that you have plenty of competition. Visiting their stores and seeing what they are seeing is very important. This way, you can identify what products they are all marketing, and start doing the same. If everyone is selling the same thing, you can be reasonably confident it will make you money as well.
#2) Ask your current shoppers
Asking those who buy from you regularly what they want is important for getting new product ideas. This can give you some new ideas.
#3) Go to trade shows
This can definitely give you some new ideas of products that could sell well. If you have any trade shows in your area (or even a ways away) it can definitely be worth checking out. There are generally lots of vendors at these shows, and this can give you some new ideas.
#4) Shop with your current distributors
Chances are, your distributors will have plenty of products you aren't selling that can make you money. Therefore, browsing through their catalogs can give you some new ideas.
#5) Read industry magazines
There are plenty of industry magazines out there that will give you new ideas on things you could sell that would make you money.
Word of caution
Now that you have found products, it is important to make sure they are actually going to sell. No matter how thoroughly you research any item, you really don't know a product is going to sell well until you test it.
Therefore, don't buy a huge quantity of anything until you have thoroughly tested it and made sure it will actually sell. Otherwise, you might end up spending $100s on something that won't sell.
Buying the right products is very important for improving your profits. Some dollar stores get so comfortable selling the same things that they forget there are new items that could increase their profits. Use these 5 guidelines, and you will find the best new items to increase your profits shortly.
