Sales in the thrift store business are crucial to the small business entrepreneur. To stay afloat, the thrift shop owner needs to generate profits that pay the company bills and allow him to purchase more stock items to sell. The owner needs to use salesmanship and creative promotions to keeps his products moving off the shelves.
Sales
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Promotions offering discounted prices on merchandise are key to getting folks in the store shopping. Put some popular items on sale, advertise the reduction in price and encourage shoppers to spend some time in the shop. Place the sales items in strategic areas of the shop floor so that customers will be more likely to look around and, hopefully, purchase additional products in addition to the ones on sale. Popular sales are two-for items and deep discounts, such as 75 percent off marked price. Also, according to The Business Forum Online, remember that you need to price all items on what customers will be willing to pay. Don't stock inventory that is too expensive for your customer base.
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Creative Marketing Efforts
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Get the word out about your thrift store to increase the profits. Word of mouth is a good advertising strategy as your satisfied customers talk to others about your shop, but you need more ways to reach potential customers. Canvas the community with colorful flyers advertising the store and especially its novel products and clearance items. Other ways to market creatively are to design a website for your store that features pictures of your inventory. Advertise the website on social media sites and community forums. You can also hold events at your store, which invite the customers in for some fun, such as hosting a bingo or trivia tournament. MoreBusiness.com reminds small businesses to advertise on a regular basis to keep new and existing customers shopping with you.
Loyalty Card
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Generate a loyalty card for your thrift shop. This is a small plastic card with a bar code that when scanned identifies your customers. Work with a company that produces these cards in bulk so you can provide one to each customer. The card can be used to track what items particular customers spend money on. You can use these cards for promotions. For example, the card can be used to obtain an overall 5 percent discount on a certain day of the week. You can also use the cards to reward loyal customers with special sales and free giveaways.
Capitalize on Trends
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Capitalize on the hot trends in the market to increase the sales in your store. For example, plastic wrist bands in multiple colors were once a fad with youngsters. The shops that carried these bands at a cheap price successfully moved a great deal of product. Study the culture of the day when choosing items to feature in your store. Ride out the wave with hot items until the next big thing comes around in which you can invest.
