Are Your Dollar Store Sales Declining?
Success with dollar stores dictates sales are always on the rise.
Sure, sometimes there might be a small decline.
However, as long as it is recognized, understood and addressed, things often return to normal.
But what about the time when dollar store sales start to decline and they just do not stop the downward fall? Read on for some helpful hits if you are facing this challenge.
In this article I present steps to help you discover the core issue you facing.
So what do you do to get back on the road to success with dollar stores? For starters, never run from this type of problem.
The sooner you address it, the less the damage.
It is important to understand what you face.
Start digging for data and details.
Understand what is causing the problem.
Then find and implement the best possible solution to get things turned around and to get you back on the road to success with dollar stores.
Start by accessing your business.
Examine everything from daily shopper traffic to the number of sales transactions and the average sales size.
Be sure to factor in customer feedback.
Compare your current information to the same data from one month ago, and then to the same month one year ago.
Look for the reason sales are down.
Is your daily customer traffic down? Is traffic the same or greater, but the number of sales transaction is down? Keep probing to get to what has changed.
Repeat this process and analyze dollar store sales by department or sales category in your store.
After all, if sales are down in all categories the problem is likely very different from having the sales decline limited to only one or two areas in your store.
Be sure you also examine major layoffs in your area, new competitors, and employee changes you may have made.
All of these can contribute to lower sales and on the flipside, your success with dollar stores.
As you isolate the problem, the next step is to develop a plan.
Part of the plan should focus on actions to address the core issue you are facing.
In some cases this will be as easy as returning to previous hours of operation.
In other cases it may require adding resources focused specifically on addressing the issue.
Always work to reduce the impact during this timeframe.
For example; you may want to hold special sales and promotions or increase advertising to offset the problem.
Always include a strategy to permanently return to previous sales levels, and then to continue the growth of sales for your business.
Above all, follow through.
This needs to be your number one priority until it is completely resolved.
Sure, sometimes there might be a small decline.
However, as long as it is recognized, understood and addressed, things often return to normal.
But what about the time when dollar store sales start to decline and they just do not stop the downward fall? Read on for some helpful hits if you are facing this challenge.
In this article I present steps to help you discover the core issue you facing.
So what do you do to get back on the road to success with dollar stores? For starters, never run from this type of problem.
The sooner you address it, the less the damage.
It is important to understand what you face.
Start digging for data and details.
Understand what is causing the problem.
Then find and implement the best possible solution to get things turned around and to get you back on the road to success with dollar stores.
Start by accessing your business.
Examine everything from daily shopper traffic to the number of sales transactions and the average sales size.
Be sure to factor in customer feedback.
Compare your current information to the same data from one month ago, and then to the same month one year ago.
Look for the reason sales are down.
Is your daily customer traffic down? Is traffic the same or greater, but the number of sales transaction is down? Keep probing to get to what has changed.
Repeat this process and analyze dollar store sales by department or sales category in your store.
After all, if sales are down in all categories the problem is likely very different from having the sales decline limited to only one or two areas in your store.
Be sure you also examine major layoffs in your area, new competitors, and employee changes you may have made.
All of these can contribute to lower sales and on the flipside, your success with dollar stores.
As you isolate the problem, the next step is to develop a plan.
Part of the plan should focus on actions to address the core issue you are facing.
In some cases this will be as easy as returning to previous hours of operation.
In other cases it may require adding resources focused specifically on addressing the issue.
Always work to reduce the impact during this timeframe.
For example; you may want to hold special sales and promotions or increase advertising to offset the problem.
Always include a strategy to permanently return to previous sales levels, and then to continue the growth of sales for your business.
Above all, follow through.
This needs to be your number one priority until it is completely resolved.
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