Opening a store is an excellent way to add an extra stream of income. However, selling the wrong products can put you out of business before you know it. If your store has stayed for a while and you have noticed a drop in sales or customers, this could be because you have the wrong products or previous products are no longer trendy.
It is an established idea that sales are essential to brick and mortar retailers, and your store is one of them. While there are very many reasons why your store may be experiencing a drop in sales, having the wrong products is the most important one. Others will include a bad marketing strategy or a non-existent marketing strategy.
To resurrect your store traffic and bring your business back, you will have to find the right products.
Here are some of the ways to find the right products:
Re-evaluate the Market
Before opening your store, you did market research. During the period, you went around, asked friends, talked to distributors, read publications, and articles online on the kind of products that will help you set yourself on a firm footing once your business started. You got some ideas, and that is why you have a store.
Revisit that process. The chances are that during the period you have been operating your store, the locality might have changed. This means the products in demand have changed along with it.
The only thing that didn’t change was your store. One of the ways this re-evaluation can be comfortable is to talk to your distributor.
Your distributor will have a good grasp of trendy products. After talking to them, take the information they have provided and the ones you got from the research and restructure your store. Once you restock your store with the right products, the customers who have left will come right back.
Solve A Problem
Another way to find products that will drive sales in your store is to identify a product that will solve a significant need. Look around your locality or store and ascertain primary needs. Find products that will aid in addressing these needs and get your distributor to stalk them.
You may have noticed that people keep asking for specific products or brands when they come to your store. If such a product or brand is within your business range, make arrangements to get them to your store. When you get these products to your store, these customers who have been demanding the products will come back.
Find Locally Needed Product
Another way is to get the necessary products that may be missing in your locality due to a reason or the other. You can go after this particular product because having them will mean that you are the closest retailer with such a product, and this will drive traffic to your store.
Some products drive sales to your store. Once you find them, your store becomes the store of choice.