Now more than ever when starting a dollar store it is important that your have a clear, accurate and exact understanding of your customers. You must thoroughly know their likes and dislikes, as well as their needs and wants. There can be no question about the dollar store merchandise they seek. Now is a time when you even need to understand the frequency of their demand and the visits they will make to your store. Now is a time to align the merchandise in your store to your shoppers.
In the past a store could succeed by having only a fairly good feel for the needs of shoppers. Mistakes and oversights associated with the merchandise carried were often covered by extra purchases made by shoppers. In today’s economy however, you must accurately align the dollar store merchandise you carry to the customers you serve. In fact one of the best ways to build dollar store sale levels and ultimately profits when starting a dollar store is to carry exactly the items your customers want and need.
This strategy does require some effort to first fully understand their needs, and then to locate the perfect products. But the payoff is big. In the long term, prospects for success are much brighter when your store is the perfect source of those items. In fact while other retailers that are failing to make this important link begin to falter, your store will excel.
Let’s look at an example of this alignment of products to shoppers. For example, if you have many vacationers stopping in to shop, be sure you add the right merchandise. If you are close to camping and fishing, then add fishing gear, rope, clothes line, clothes pins, matches, flashlights, tarps and other items that will appeal to campers. Food items such as ‘just add water’ instant foods will likely be hot sellers as well.
Here’s another example. If you are starting a dollar store close to a bingo parlor, focus on the in and out, quick purchases of these customers. They will come in before sessions start, and return to your store again as they leave to go home. Bingo markers, snacks, beverages and puzzle books will certainly appeal. Jewelry and key chains designed around a bingo theme will be another hot merchandise group. Many of these shoppers will have only minutes to run into your store and pick up the items they seek. Be sure to maintain a good stock of them close to the cash registers to expedite payment.
No matter what the situation, your store will have very specific customers with very specific needs and wants. Invest the time to clearly understand exactly what those needs and wants are when starting a dollar store. Then be sure to carry the dollar store merchandise that will be in-demand with these shoppers. Always keep the hottest selling items in-stock and available for purchase. That is a formula for success in every economic situation.
To your success when starting a dollar store!