One of the biggest challenges faced by entrepreneurs who start a dollar store is associated with carrying all the right products. These store owners know all of the most popular items must be available to maximize sales for their dollar store business. While it is easy to guess some of the core basics shoppers will purchase, many other products are frequently overlooked and aren’t initially carried. With carefully data collection from willing shoppers a set of messages will soon become clear. These messages include products shoppers must purchase, as well as products some shoppers would like to have available when they come to your dollar store business.
In this article I present 3 actions to take as the message about what items your shoppers want and don’t want becomes clear. When you start a dollar store knowing this information and then taking the right actions can really power your dollar store business forward.
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Everything starts with you finding out exactly what products your shoppers would like to see added. With that feedback collected you will have a better understanding of the specific wants and needs of your shoppers. Then it is time to actually use the data. Here are three steps to use as you make decisions about how best to accommodate your customer requests to add new products:
1. Never start buying new products for your business just because one shopper provided feedback. In fact don’t start buying new products until you have a clear message shoppers want and will buy the product you are considering adding to the mix.
2. Start with a small order – just to make sure there is really demand. This is a test order designed to make sure there will really be demand. Work to locate a wholesale merchandise supplier which will provide smaller quantities – 12 or 24 to start. Using this strategy allows you test without tying up much money in added inventory.