Financial Resource

Every entrepreneur opening a dollar store faces the challenge of locating just the right dollar store merchandise to build sales.  While they hope to locate and purchase items that will appeal to shoppers, they know there is a gamble every time huge quantities of new, never-before-carried items are purchased.  After all, unless the new store owner is well aligned to customers and their needs and wants, the products they bring in to sell may miss the mark entirely.  What they had hoped would be the next hot selling product could end up collecting dust if a mistake is made.  In this article I present a winning tactic to add sales while reducing exposure to making bad buying decisions.

If you are opening a dollar store one thing is sure; shoppers really desire those core consumable products that offer you a very tight profit margin.  In fact some dollar store owners don’t realize the huge opportunity sitting before them and actual hesitate to purchase some of these items.  They allow these items to completely run out and will leave the shelves empty for days or even weeks at a time.

Yet this is dollar store merchandise that brings shoppers in time and again.  When you allow the store shelves to sit empty of these items, shoppers look elsewhere for them.  After all, whether you like the profit margin or not these are items that are critical to your success.  So why not develop a strategy to capitalize on this opportunity in your store?

First, let’s be clear what these core consumable products include.  Items in this category include paper products such as paper towels, bathroom tissue, plastic garbage bags, facial tissue, plastic lunch bags, snack bags and storage bags.  Other items include household cleaners such as dish liquid, automatic dishwasher soap, laundry detergent, fabric softener, bathroom and kitchen cleaners and more.  Many health and beauty items also fall into this category.  Dollar store merchandise such as hand soap, liquid soaps, shampoo, hair spray, toothpaste and more could also be included.

When you are opening a dollar store these are all items to add to your starting inventory.  However also consider turning these items into impulse items when the right buying opportunities for this dollar store merchandise present themselves.  Make volume purchases and then display these items on end caps, in bulk displays, and in other displays throughout your store whenever possible.  The larger displays will remind all shoppers to include them in their buying for the day.  Many who had no intention of buying those items will add them to their purchases.  Your total store sales will go up, and if you bought right, your profits will go up as well.

To your dollar store success!

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