subject: Don't Over-Buy Dollar Store Merchandise in Today's Economy [print this page] For those seeking success with dollar stores today's economy presents some really amazing dollar store merchandise buying opportunities. In fact some of the deals are so good it is hard to ignore them. These opportunities might come from liquidation companies, closeout suppliers, or even just sales from your regular dollar store suppliers and trade show events. And don't forget the great deals associated with closing businesses where some items sell for just pennies on the dollar. It really doesn't matter what the source, today is a time to always buy with care.
If your goal is to achieve success with dollar stores, your plan of attack when it comes to buying must be to carefully investigate and then to only make purchases that offer both a reasonable profit and quick inventory turnover. For more on this important topic read on. In this article I present don't over-buy dollar store merchandise in today's economy. In this article I present some of the buying rules to help make your merchandise buying decisions.
Never buy huge quantities of an unknown product. Today's marketplace isn't right for gambling your money on big orders of dollar store merchandise unless you already know those items will sell like hotcakes in your store. You must already know your shoppers need the items in question. Otherwise, make a smaller investment and test the sales levels before moving on to a bigger order.
Never buy huge orders of slow selling items - no matter what the price. The last thing you need is a stock room filled with items that sell slowly or not at all. You cannot afford to tie your money up in this type of inventory.
Work to keep your stock room as close to empty as possible. The exceptions might be building safety stock levels of a few core consumable items your shoppers must have on a routine basis. Possibly a few seasonal items for the next upcoming holiday might also be in back stock for a few weeks. And of course hot selling impulse items are one final category.
Turn your suppliers' warehouses into your warehouse. Start ordering more frequently as a means of keeping their stock room inventory levels close to zero. There are risks; slow delivery of critical items and suppliers running out of certain items are the two most likely problems.
To your success with dollar stores!
Don't Over-Buy Dollar Store Merchandise in Today's Economy
By: Bob Hamilton
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