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There are so many challenges when you own a dollar store. It seems like as soon as you recognize one challenge and begin to develop plans to handle it, another appears out of nowhere. In many cases what seems like an overwhelming challenge ends up being a minor inconvenience that soon goes away. However there is a set of core business challenges that never goes away. This group is every bit as important in your twentieth year of operation as it was in your first. Building your average sale size is one of those challenges that remain from your first day in business to your last. In this article I present 4 tips to increase the size average sale size for your store. #1) Conduct special events with rewards for shoppers who achieve specific purchase levels. Many retailers make use of rewards that are based on total purchases made in a specific timeframe. One of the easiest ways to handle the tracking of actual purchases is to create a small rubber stamp and stamp each $1 or $5 or $10 in purchases made on a simple card with your company information printed on it. The reward for hitting various total purchase levels might be receiving a specific item, a cash discount on the first purchase made the following month, or a percentage discount on purchases. For many shoppers the excitement of receiving a reward will motivate additional purchases which build your average dollar store sale level even higher. #2) Maximize end cap utilization when you own a dollar store. End caps are truly golden when it comes to making sales. Well stocked end caps with in-demand merchandise and eye catching signage can really build dollar store sale levels. When making wholesale dollar store merchandise purchases always be on the lookout for items to prominently display on the end caps of your store. Build average sales further by rotating end cap merchandise on a scheduled basis. #3) Carrying the right holiday merchandise is critical to achieving maximum annual dollar store sale levels. It all starts with timely ordering of your holiday merchandise. Initial orders must be submitted during the early spring to guarantee you will have all the hot items shoppers want. Be sure to order the right merchandise. When you first own a dollar store you will be counting on the advice of your sale representative. Once you’ve operated through a holiday season you will have a good understanding of the types of holiday merchandise you must have on hand for your shoppers. Properly displaying the holiday merchandise is the final critical touch required to maximize your sales. Not only will these items build total sales, but they will absolutely build average sales per transaction as well. #4) Providing outstanding customer service is one of the most critical pieces of the puzzle to building the average dollar store sale size when you own a dollar store. Shoppers will spend more time and return more often when they are treated as important guests during their visits to your store. Make sure you offer customer service training to every employee. Then set expectations and hold employees accountable for providing outstanding customer service to each and every shopper who enters your store. To your dollar store success! Find out how you can open your own dollar store business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
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