There are many complex factors that go into operating a successful retail store. You must have an ideal location, great product line and an ideal sales staff. However, another factor that many retail store owners often overlook is offering products with universal appeal. Regardless of the type of retail store that you own, some products are simply in high demand. People will buy some products regardless of which store they are in, and what else they are currently buying. Having a good stock of these items is essential for making a few extra dollars on every transaction – which will quickly add up.
Three Products with Universal Appeal
The following products will appeal to almost everyone who steps foot in your door. Deciding to purchase and stock these products is one of the best decisions you can make for your store. The following products generally have a high profit margin, meaning even the occasional sale will help make your store money.
1. Batteries. Everyone needs batteries. Whether they need them for their TV remote, their various wireless appliances or a smoke detector, batteries are a common need for most consumers. Keep a varied selection of common types of batteries next to your register. Simply having them within reach will remind customers that they are running low on batteries. It’s a great last minute purchase that will add a few dollars of profit to their sale. Regardless of what type of store you own, you can place some batteries near the register to make a few extra dollars.
2. Sunglasses. Whether it’s the winter or the summer, people need to block the sun out of their eyes. The summer is known for being bright in most parts of the country. Conversely, snowy winters can reflect sun, which will damage people’s eyes. Purchase some wholesale sunglasses and set a few out by your cash register. You may even wish to purchase a spindle with a mirror so people can browse them. Chances are, a majority of your customers just drove to your store. If it was an exceptionally bright store, they were likely just thinking that they need sunglasses. Help them out by stocking a fashionable selection of tinted eyewear.
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3. Beverages. Who doesn’t enjoy a tasty beverage? This is especially true if you operate a large retail store in which people are often shopping for hours. At the end of their shopping experience, they are likely thirst. Quench this thirst by offering a reasonable selection of beverages for them to enjoy. You may have a small cooler on your counter, or a larger cooler right in front of it. If you are in a high end store, you may even wish to offer complementary waters for an added touch of customer appreciation.
Expand Your Offering for Additional Profit
By offering the above three products, you will greatly increase your profit potential. Each of these products has an inherently large profit margin. This means that you even the occasional sale of these products will more than pay for their place in your store. Order some sunglasses, batteries and beverages now for added options for your customers – and profits for you.
I never thought about this before your review, but you are right. These items you mentioned area always in demand.