There was a time when almost anyone opening a dollar store had a legitimate chance for success. But the times are changing. Now it takes a good deal of preparation and planning, and then cash, hard work, leadership and devotion to achieve success. It also takes recognizing that the day and age of the dollar store we also experienced in years gone by has gone away. This is a maturing industry with major players, a different economic world, and smart shoppers.
Where once for those opening a dollar store a table covered with cheap, tiny trinkets would pass the test and yield impressive sales, today shiny bobbles which break the first time they are worn lose shoppers from your store forever. Today shoppers expect high value ? that dictates quality, quantity and price must all pass the test. They also expect to find the fundamental essentials of life to be readily available whenever they come
michael korrs outlet to a dollar store business.
Where once a small store space would provide a comfortable living for a family, today's cost pressure has changed the picture. In today's marketplace with tight
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At one time maintaining a 99 cent only or $1 only format
marchael kors outlet worked well. In today's marketplace those opening a dollar store face great pressure on the margins they earn. In fact, by all outward appearances there will be no relief coming when it comes to the potential margins on dollar store merchandise. In fact the opposite is quite true. The profit potential for 99 cent or one dollar merchandise appears to be ever smaller. Tightening margins mean even more sales are required to yield the same profit levels.
So what options exist? Enter the hybrid dollar store. In a hybrid dollar store there remain many of those same essential daily basic items. There are still impulse products and other in demand merchandise priced at the 99 cent or one dollar price point. However, in addition to the $1 priced items there are some other higher priced products.
These over $1 products represent unusually good value to the shopper. There are more brand names, larger quantity containers, and quality is not compromised. These products are
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If you
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mk brand bag the profit potential associated with using a hybrid approach to pricing. Carry the same essential daily basic items which have endeared dollar stores to shoppers. Then add in a well thought out assortment of items selling for greater than one dollar. Make sure these over $1 items represent outstanding value to your shoppers.
Find more about Opening A Dollar Store Visit
www.openingadollarstore.com for and learn more about Dollar Store Start-up.
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