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The title of this article says it all. In today’s economic environment every dollarstore owner must seriously consider carrying grocery items. Only the smallest, lowest of volume stores can escape the requirement; and they will likely pay the price. The day of offering a few snack items is long gone. Customers expect to be able to make food item purchases when they enter your store. If you don’t carry them, your competitors do. Gone are the days of customers splitting their dollar store shopping between stores. Cost is driving them to make the dollarstore offering the exact items they seek their choice for shopping. For the retailer carrying grocery items means higher traffic, more sales and the potential for dollar store profit. Read on to find out more. In this article I present add groceries to grow sales when opening a dollar store. Let’s start by facing the reality of adding food items to your business when you are opening a dollar store. On the one hand, if you do this well, both traffic and total purchases will increase significantly. On the other hand, grocery items involve a great deal of work to stock and maintain. They are also generally extremely tight margin products, which mean dollar store profit is hard to achieve from them. Your buying practices must be sound and date management is required. A well-stocked and managed grocery department will create more traffic your store. Ever-growing traffic numbers are exactly what you want when you are opening a dollar store. Higher traffic means more sales and an increased chance of earning a dollar store profit. Existing customers will make more frequent stops at your store. New shoppers will reward you by coming into your dollarstore due to word-of-mouth advertising. Adding grocery items can increase the size of the average purchase in your store. One of the best ways to grow total is sales is by growing the size of the average purchase. For example, if you have 100 sales per day and your average sale is $5.00, that’s $500 per day in sales. But if you have the same 100 sales and you can increase the average sale to $9.00, you now have $900 per day without growing traffic. Combine this to an increase in traffic and you are on your way to new, higher dollar store profit levels. Food items have the power to make this happen for you. As noted above, when opening a dollar store one of the keys to success is word-of-mouth advertising. Carrying a good assortment of food items contributes to shopper satisfaction and excitement about your dollarstore. Those happy customers then tell others you are meeting their needs and wants. Soon you have new shoppers in the store buying products. And that’s how you build sales and dollar store profit levels to new heights. To your dollarstore success! Learn how you can Start your own Dollar Store Business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
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