The Days of Wholesale Dollar Merchandise are Slipping Away

The days of easily locating wholesale dollar merchandise are definitely coming to an end. This is largely because the expenses are increasing to the point that stores have to charge over $1 to keep their store open. Therefore, it is more and more difficult to open up a traditional “dollar store” today.

Having said that, there are ways you can lower your costs and stick to charging close to a dollar for all the wholesale dollar merchandise you purchase. Here are 5 tips that work to help you keep your retail price as low as possible:

#1) Buy in-demand products
When opening a dollar store, it is important for you to buy wholesale dollar items people actually want-not just products you think they want. There are a few things people primarily will buy at dollar stores, because they know the price will be lower. Therefore, making sure you always have those items is important.

#2) Ask what people want 
One great strategy of seeing what shoppers are searching for is simply to ask them. In your store you can provide feedback forms by the counter, so your customers can list products they would like to see you carry. These recommendations can be very enlightening.

#3) Test everything
Never buy huge amounts of wholesale dollar items until you have tested them. Many store owners buy large quantities of wholesale dollar items before they even know if there is a demand for them. This is a critical mistake, and can cost you a lot of money.

#4) Pick a trustworthy supplier
Any wholesaler you go with must be trustworthy, and should get in touch with you quickly when you place an order. The best wholesalers are those who communicate quickly and effectively. Also, make sure they consistently ship the wholesale dollar items you purchase on time. Many wholesalers are not very reliable about prompt shipments, so avoiding them is important.

#5) Compare costs
Make sure you compare costs of the different merchandisers to be sure you find the best value. Never go with the first company you find. 

How to find the best wholesaler?  To find the best ones, go to trade shows and industry events. These are the best places to go to connect with new wholesalers. Also, if you already have some wholesalers then ask them for references of other good suppliers.

Wholesale dollar merchandise can be located and you can maintain competitive pricing. Use these tips, and you should find the best products shortly. Once you find them, all you have to do is keep stocking those items, and your customers will keep buying from you.