Does Your Dollar Store Strategy Include Dollar Plus?
In today's business environment the competition is tough - and it is getting tougher.
One misstep can literally spell disaster for a small business.
Profit margins are tight and for many, they are getting tighter.
Yet the potential for success, and the rewards for that success, are also very real.
This is the very situation faced by those who own a dollar store.
Their dollar store profits are becoming more elusive.
Yet there is still the potential for success.
It takes a clear strategy and careful execution of your strategy.
In today's competitive environment you must be very careful about the format you select for your business.
Think long and hard about starting a 99¢ or $1 price point store as your dollar store strategy.
Strongly consider adding a selection of dollar plus items to the mix to boost dollar store profits for your business.
Read on for more on this important topic.
Dollar plus merchandise offers the potential to raise profits for your business.
This can be accomplished by changing only about 20% - 30% of your store inventory over to dollar plus if you wish to retain the 99¢ or $1 format in your store.
Be strategic in the products you select.
Focus first on the core consumables shoppers are going to buy.
Make sure the added price is warranted by the obvious increase in value to your shoppers.
Then selectively add in-demand dollar plus merchandise as well.
Dollar plus merchandise allows you to replace popular non-profit items with merchandise which actually offers profit to your business.
As noted above, focus first on core merchandise and then expand.
Remember your competitors and their prices.
It does no good to take a $1 item and make it $1.
19 if every store in your immediate area is still selling for $1.
Shop the competition and add this information into your planning process.
Dollar plus merchandise allows those who own a dollar store to add a whole new set of products for their shoppers.
Add in the right products in the right way and you will not only keep the existing shoppers excited and buying, but you will also be able to add in a whole new group of shoppers.
Adding dollar plus merchandise creates the opportunity to add excitement, extra sales and extraprofits.
When implemented correctly this dollar store strategy change can mean your store stands above the crowd.
One misstep can literally spell disaster for a small business.
Profit margins are tight and for many, they are getting tighter.
Yet the potential for success, and the rewards for that success, are also very real.
This is the very situation faced by those who own a dollar store.
Their dollar store profits are becoming more elusive.
Yet there is still the potential for success.
It takes a clear strategy and careful execution of your strategy.
In today's competitive environment you must be very careful about the format you select for your business.
Think long and hard about starting a 99¢ or $1 price point store as your dollar store strategy.
Strongly consider adding a selection of dollar plus items to the mix to boost dollar store profits for your business.
Read on for more on this important topic.
Dollar plus merchandise offers the potential to raise profits for your business.
This can be accomplished by changing only about 20% - 30% of your store inventory over to dollar plus if you wish to retain the 99¢ or $1 format in your store.
Be strategic in the products you select.
Focus first on the core consumables shoppers are going to buy.
Make sure the added price is warranted by the obvious increase in value to your shoppers.
Then selectively add in-demand dollar plus merchandise as well.
Dollar plus merchandise allows you to replace popular non-profit items with merchandise which actually offers profit to your business.
As noted above, focus first on core merchandise and then expand.
Remember your competitors and their prices.
It does no good to take a $1 item and make it $1.
19 if every store in your immediate area is still selling for $1.
Shop the competition and add this information into your planning process.
Dollar plus merchandise allows those who own a dollar store to add a whole new set of products for their shoppers.
Add in the right products in the right way and you will not only keep the existing shoppers excited and buying, but you will also be able to add in a whole new group of shoppers.
Adding dollar plus merchandise creates the opportunity to add excitement, extra sales and extraprofits.
When implemented correctly this dollar store strategy change can mean your store stands above the crowd.