There are many new dollar store items out there that can make you money. But just relying on what is always worked can prevent you from reaching your full potential.
There are many new dollar store items out there that can make you money. But just relying on what is always worked can prevent you from reaching your full potential. There are many ways to find out the best products to buy, and here are 5 strategies that work:
#1) Spy on competitors
If you own a dollar store, then you already know that you have plenty of competition. Visiting their stores and seeing what they are seeing is very important. This way, you can identify what products they are all marketing, and start doing the same. If everyone is selling the same thing, you can be reasonably confident it will make you money as well.
#2) Ask your current shoppers
Asking those who buy from you regularly what dollar store items they want is important for getting new product ideas. This can both give you some new ideas, and keep you in tune with your regular customer’s preferences.
#3) Go to trade shows
This can definitely give you some new ideas of products that could sell well. If you have any trade shows in your area (or even a ways away) it can definitely be worth checking out. There are generally lots of vendors at these shows, and they can give you ideas and contacts for where to purchase the new products.
#4) Shop with your current distributors
Chances are, your distributors will have plenty of products you are not selling that can make you money. Therefore, browsing through their catalogs can give you some new ideas.
#5) Read industry magazines
There are plenty of industry magazines out there that will give you new ideas on things you could sell that would make you money. They may also contain articles with helpful tips for other areas of your business.
A Word of Caution:
Now that you have found dollar store items, it is important to make sure they are actually going to sell. No matter how thoroughly you research any item, you really do not know a product is going to sell well until you test it.
Therefore, do not buy a huge quantity of anything until you have thoroughly tested it and made sure it will actually sell. Otherwise, you might end up spending $100s on something that won’t sell.
Buying the right products is very important for improving your profits. Some dollar stores get so comfortable selling the same things that they forget there are new items that could increase their profits. Use these 5 guidelines, and you will find the best new dollar store products to increase your profits shortly.
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