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One of the challenges faced by the owners and managers of all retail stores is how to handle excess inventory. That inventory represents money that has been spent and now sits tied up in merchandise that simply does not sell. If you are opening a dollar store become aggressive about quickly eliminating that inventory.

Are you opening a dollar store? If so, be sure that once slow selling merchandise is identified examine the store to make sure that it is being properly merchandised. Is the merchandise visible and are signs present? In many cases you will find that making adjustments in those areas will quickly take care of the problem.

When opening a dollar store routinely examine the entire store on a periodic basis to make sure that all items are being properly merchandised. That single action will reduce the number of excess inventory events that occurs in your store.

In other cases consider reducing prices or conducting an in-store promotion to sell down the inventory. After opening a dollar store you may find that excess inventory is great for sidewalk sales and other easily managed events.

When opening a dollar store it is important to take advantage of high traffic opportunities to reduce inventory levels. The holidays are one example of such and opportunity. Remember to use the holidays and other special events to reduce the price and sell out of items that have not sold well previously. Then use the cash from those sales to purchase inventory that will quickly sell in your store.

To Your Dollar Store Success!

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