4 Proven Tactics to Grow Your Dollar Store Profits by Bob Hamilton

4 Proven Tactics to Grow Your Dollar Store Profits by Bob Hamilton For those who own a dollar store this is a time of change. With better educated shoppers have come much higher expectations of dollar stores. Shoppers know the merchandise they can expect to find in your competitors' store and they expect no less in your store. With tough economic times has come a time when bargain hunters reign. Your hopes for sales and profits ride on your ability to provide quality products at outrageously low prices. In this article I present 4 proven tactics to grow your sales and ultimately your profits.Tactic #1) Get closer Isabel Marant BEKKET wedge sneakers bleu to your targeted shoppers You must know the marketplace. The easiest way to gain that knowledge is to let you customers tell you. This dialog can be started with a simple customer feedback box. Get your cashiers involved in data collection by noting shopper feedback about the items they purchased as well as the items they were seeking but could not locate in your store. Don't allow non-selling items to sit. Sell them, even if it requires reduced pricing. Then reinvest the proceeds in the products your customers are seeking. The better you do at aligning inventory to customer needs the higher your sales will be over the long term.Tactic #2) Make mainstay products the focal point of your business This isn't a time for trying to sell the cheapest wholesale merchandise you can locate. Now is a time to focus on building sales from the mainstay merchandise shoppers must have. Paper goods, food items, detergents and cleaners, as well as the basic HBA items shoppers routinely purchase are all included. By staying close to your shoppers you will know when their tastes are changing so items Isabel Marant DICKER suede ankle boots taupe can be added or removed from the selection you offer.Tactic #3) Become a negotiator where dollar store suppliers are concerned Discuss discounts and sale prices with every dollar store supplier you use. Always work to reach a deal on either merchandise pricing, shipping costs or both. Be on the lookout for new dollar store suppliers that are willing to beat the current prices you are paying. Look for strategies to reduce basic day-to-day costs in your business as well. For example; do floor cleaning, janitorial and window washing and other routine maintenance yourself rather than contracting with outside businesses.Tactic #4) Become a marketer and promoter This is a time to get aggressive. Build sale levels by offering a variety of special events to keep shoppers excited about coming back to your store. Add inexpensive advertising and promotion such as passing out business cards at every opportunity, or exchanging coupons or specials for customer referrals with post by haiyan114 another local business. Get involved in community organizations and business groups - and then network.To your dollar store profits! <