It's no secret why people love to shop at a dollar store. The idea of walking in with ten bucks, and knowing you can buy ten different items is admittedly fascinating to many consumers. But value alone is not enough to bring customers in to the store, and keep them coming back.
So what is the secret ingredient? Why do some dollar stores thrive with repeat customers and high average sales, while others struggle to make ends meet? You might be surprised to know it has less to do with merchandise, and more to do with the setup and layout of the store.
Whether it is a dollar store, a grocery store or a high end department store, it is important for retailers to offer more than brand names or amazing prices. While those baits might get them in the store, they aren't able to create a positive overall experience for the shopper by themselves. It is important to create an environment that is comfortable for your customer on every visit.
Here are three valuable tips to help dollar store owners maximize their profit potential with store setup:
Think Like the Customer: Setup the store with their values in mind. If it means losing an aisle to make the store easier to get around in, it may be worth it. After all, are 15 aisles better than 14 if no one is shopping at the dollar store? Don't overstuff your shelves with products, because it will overwhelm your customer. Avoid clutter and make sure all paths through the store are open and easy to navigate.
Follow the Leader: Giant retail chains have spent millions of dollars on research to determine the best way to layout their stores. Look no further than their aisles for the keys to setting up a dollar store. Visit a few existing local retailers and take notes. This isn't the time to be creative and try something new. In an effort to create a unique experience for customers, you will confuse them and cause them to either stay longer than they want, or leave out of frustration. Once you've got some ideas, find a dollar store supply center to get your supplies.
Mind your End Caps: Product suppliers have been known to get into fierce competition over aisle end cap placement, and there's a reason for it. Aisle ends offer premium product visibility. Stock impulse buy items at the end of the aisle, and it will likely pay off. Unsure which products will work best in an end cap? Try a variety and monitor the results.
Success in the dollar store retail segment is largely up to the retailer. With the popularity of dollar stores, you have a lot of opportunity to build upon. Taking the time to think about customers in the setup process, will ensure they think about your dollar store for years to come. For a wide variety of fixtures, supplies and ideas, visit www.nu-era.com.
Nu-Era and nu-era.com are services of The Nu-Era Group, LLC -the industry leader in store fixtures, supplies, and fulfillment. Nu-Era has been providing its customers with competitively priced quality products with customer-oriented service since 1949. For more information, visit them online at http://www.nu-era.com
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