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Many of those who have started a dollar plus store previously operated a dollar price point business. They sold everything at a single price. As a result there was no need to worry about pricing each of the dollar store merchandise items carried. After all; everything was $1. All of that changes when you open or convert an existing dollar store to dollar plus store format. Even if your price range is narrow, there are still many different prices. It is critical to put your shoppers at ease and to communicate exactly the price items sell for in your store. Your goal is to make it obvious exactly how much each and every item carried in your store costs the shopper. Read on for actions that will help this process. · Price all items in your store. While it was possible to simply say ‘everything is one dollar’ before and everyone knew all dollar store merchandise items were the same price, which is no longer the case. It adds a little extra labor to add price tags, but eliminating shopper confusion and the resulting added sales will make it worth your time. · Add attention grabbing signs to end cap and bulk merchandise displays. Include not only a brief description of the item, but also the price. The description can be as short as the name of better known or easily identified items. In other cases it may require a little more detail. In all cases remember that you have only seconds to attract shopper attention, so use bright colors. · Don’t forget to add signs on varied items in each aisle. Pick a small selection of the items you’d like to highlight and add eye-catching signs. Don’t go overboard and add signs to everything as they will lose their impact. Stick with a small number of signs and shoppers will be much more likely to stop and check out the items being highlighted on those signs. · Establish a process where price tags are always placed on the same spot. Make it easy for shoppers and employees to quickly locate the price of every item. By standardizing the location of all price tags it makes it easier for shoppers to find the price themselves. If they happen to ask for help, employees can quickly locate the proper price. · A POS system comes in handy for this change. Rather than pricing each and every item you can place smaller tags with the displays that include a short description, item number and the price of each dollar store merchandise item. To your success when you own a dollar plus store! Want the best ideas to earn from your dollar store business? Check out "Tactics to Add Streams of Income to Your Dollar Store Business" at www.OpeningADollarStore.com.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
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