You may have studied the customer #demographics before you selected your dollar store location. If you didn't, you should have. For those who have been in business for more than a year or two, it may be time to take another look at the type of #shopper who lives within a few miles of your store. You can do this several ways. Either check the #demographic study for your area or use social media or a rewards program to help you keep abreast of the age, sex and marital status of your shoppers. Not all shoppers will live in your area. Some work in your location and stop to shop after work. Others may pass by your store on the way home.
Knowing your #demographics can help you put items on your shelf that your customers want to purchase. A young family with babies wants products for those infants. Older couples don't require baby toys, powder or clothes. They may be more interested in purchasing greeting cards at a discount or if they're single, individual sized foodstuff.
As noted previously, you can check the demographics in your area, but we're a mobile #society. Probably the best way to find out customer needs is to ask. You can sign them up for a rewards club, making certain to ask about other family members or even pets. If you have a large group of pet lovers, extending your selection could prove quite beneficial. If you're in an ethnically based neighborhood, such as one with a high Spanish speaking population, hiring Spanish-speaking staff or providing a section of ethnic food can increase your customer base dramatically.
Other factors can affect your sales, such as average income of your shoppers. When the economy dropped with a bang a few years back, even higher income shoppers began to frequent dollar stores. They may have had a pay or hour cut, failed to receive expected bonuses or simply worried about what tomorrow might bring so they tightened their belts early, before there was a problem. That hasn't changed in the past few years. In fact, the numbers of people with higher income is increasing when it comes to budget buying, such as shopping at a dollar store. If you have an influx of this type of person, stock your store shelves with items where brand names simply are not going to be relevant. Laundry products, paper goods and other consumables may be the key to capturing this type of customer.