How to Choose the Best Products for Your Pound Shop or Corner Shop
As a pound shop or small corner shop owner, selecting the right mix of inexpensive but appealing products is crucial to your business’s success. With limited retail space and tight profit margins, every item on your shelves needs to sell in high volumes and turn over quickly.
Follow these tips to pick products that will fly off the shelves in your independent shop.
Focus on Consumables and Essentials
Stock up on consumable items that customers need to replenish frequently. Affordable food and drink staples like milk, bread, soda, snacks, and candy make excellent choices. Household essentials like batteries, kitchenware, tools, cleaning products, and personal care items are also smart options. These types of fast-moving basics will draw customers in frequently.
Choose Timely Seasonal Goods
Take advantage of seasonal events, holidays, and weather by stocking specially-themed merchandise. In spring and summer, sell outdoor items like gardening tools, picnic supplies, and pool inflatables. Capitalise on back-to-school season with affordable school supplies and dorm room must-haves. Stock costumes and decorations for Halloween and Christmas. Catering to seasons will ensure steady turnover.
Stock Impulse Purchase Items
Position small indulgences near the register to spur impulse purchases. Low-cost treats like chocolate bars, bags of chips, candies, chewing gum, and soda are prime impulse buy candidates. Affordable accessories like phone chargers, earbuds, and fashion jewellery also make customers more likely to grab something extra.
Try Out New Products Regularly
Consistently test out new trending products you think may sell well. You can trial a small quantity first to gauge customer interest before increasing your order. Quickly discontinue poor sellers and replace them with hot new products. Adapting to the latest trends will keep your inventory fresh.
Aim for High-Profit Margin Items
While you’ll rely heavily on lower-margin staples, also mix in some accessory items with higher margins, like gift bags, seasonal decorations, toys, and fashion accessories. Higher markup items can offset slimmer profits on staple goods. Just be sure they have broad appeal and volume sales potential.
With the right affordable but in-demand products, your small pound shop or corner shop can thrive. Stick to fast-moving essentials, capitalise on seasons and holidays, spur impulse buys, try new trending products, and balance high and low-margin items. This merchandising strategy will maximise sales and profits.
Shonn Brothers Wholesalers can help
At Shonn Brothers Wholesaler, we have over 50 years of experience supplying products to corner shops, convenience stores, and independent retailers across the UK. Over the decades, we’ve learned what makes an ideal product mix for small shops operating on tight budgets and limited space. We understand the importance of focusing on the bestsellers that turn over quickly and draw in customers. We aim to provide independent shop owners with quality merchandise at wholesale prices, allowing you to maximise your profits.
With our extensive experience working closely with local retailers like yourself, we have an insider’s perspective on the products that tend to sell exceptionally well in pound shops and corner stores. We know the staples and seasonal goods that fly off your shelves. We stay on top of the latest trends and trial products to find new gems with mass appeal. From snacks and household essentials to impulse buys by the register, we’ll recommend the ideal product mix to thrive in the world of pound-shop retailing.
Running a successful independent shop in today’s competitive retail landscape is certainly challenging. By leveraging our five decades of expertise in supplying the right products at the right prices, you can gain an advantage.