Some dollar store merchandise simply does not sell.Â That is a sad reality for many who own a dollar store.Â In many cases the problem began during their dollar store startup when they did their buying based on their own preferences rather than purchasing proven hot selling items and the products shoppers must have.Â Then the truth that it is all about the customer becomes clear.Â Dollar store merchandise must meet shopper expectations and needs.Â If not, sales will never youâre your projections.Â In this article I present 5 actions to avoid the hazard of merchandise that will not sell.
#1) Stay close to your customers when you own a dollar store.Â The best way to do away with dollar store merchandise that wonât sell is by sticking close to your customers.Â Start this practice right after your dollar store startup is complete.Â Know the products they need and want.Â Carry a good selection of those items.Â Add new items only after carefully testing to make sure they will be in demand.
#2) Continually monitor all of the merchandise in your store.Â Walk your store once per week.Â Examine each and every aisle for merchandise that is either selling very well, or not at all.Â This should be a routine action.Â When you locate slow selling items focus on making them more appealing.Â Add signage.Â Move the items so they are more visible to shoppers.Â Move the items to an end cap.Â Consider discounting the price.Â Take the steps required to make sales.
#3) Avoid mass purchasing of new products.Â Donât start experimenting with huge quantities of a single item until you know it will sell like hotcakes.Â Start with a small experimental purchase.Â Make the new item prove itself before tying up even more money in inventory.
#4) Eliminate hidden storage spaces when you own a dollar store.Â One of the worst experiences for those who own a dollar store is having an employee come up and ask about the hundreds of items they just found stored behind a display in an out of the way corner of your store.Â Even worse is finding out those hundreds of items are really hundreds of a single holiday item that would have sold out were it the right time of the year.Â Now you have money tied up in an item that will not sell until next year.Â Make sure there are no hidden corners or other locations where excess merchandise can be placed.Â This costs you money.
#5)Â Donât over-buy when purchasing bulk, mixed pallets of dollar store merchandise.Â When you own a dollar store it is easy to see the extra profits purchasing mixed pallets can offer you business.Â Yet from your dollar store startup on you must be careful to avoid the pitfalls associated with overbuying a single item.Â No matter how well items sell there is a limit to how many you can realistically expect to sell in your store.Â Mixed pallets come with the very real possibility of receiving hundreds and hundreds of a single item.Â Buy a pallet or two, see what is inside and then repeat to reduce this risk.
To your dollar store startup success!