After the holiday sales increase is finished, you should end up with less inventory remaining in your store. However, if things did not go as well as you expected you may still have plenty of dollar store merchandise on your hands.
In retailing, the holidays usually produce the majority of store
sales and profits for the year. After the holiday sales increase is
finished, you should end up with less inventory remaining in your
store. However, if things did not go as well as you expected you may
still have plenty of dollar store merchandise on your hands.
If
that is the case you will want to sell off the excess inventory as soon
as you possibly can make it happen. That is one reason you should make
January your inventory closeout month. Your goal is to encourage
shoppers to buy these items when they normally would not.
You
should seek to reduce as much inventory as is reasonably possible. Do
not reduce the level of your core consumable products though. People
will need these items no matter what time of year it is. If they come
in at any time and see you do not have these important dollar store
merchandise items on-hand, it will not be good for your overall sales.
When
running your closeout specials, it is best for you to move the items
away from their normal spots on the shelves. You should make use of
your end cap displays and also easily seen closeout displays. They will
draw much more attention and help you get sell-off the items at a much
faster rate.
You should also look to setup displays in other
areas of your store in order to draw attention. One of the best
locations is in the front of your store, close to the cash registers.
Your customers would spot these displays immediately upon walking in and
will likely think about buying right then if the price is right.
Make
sure you look for other strategic places around the store. Just make
sure the displays are noticeable and not tucked away in the corner
somewhere. You might even think about taking closeout items outside and
holding a sidewalk sale.
As far as closeout locations in your
store are concerned, you should try to adorn them with eye-catching
signs. They should be flashy enough to draw people to the area to see
if they are interested in your closeout items.
Customers may not
want to buy certain items at their original price. Therefore, entice
them to take the excess inventory off of your hands by lowering the
price. If the items were sitting on the shelves not selling anyway,
they were not making you any money at all. So be willing to take a
little less and have the items sold.
If you have excess dollar
store merchandise inventory left over after the holiday season has
passed, then make January your closeout month. Lower the prices on
these items, and set-up attention-grabbing locations to help sell the
merchandise out of your store.
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