President's Corner:
the More things Change, the More They Stay The Same.
Each year, we try and
take a look at the trends in the marketplace and make sure that we
as a company are staying ahead of the curve and in turn, try to keep
our customers apprised of any changes in the marketplace that we
feel that they should be made aware.
While we
always look for ways to improve our merchandise mix and look at ways
that we can improve what we do, the main core of our business
strategy stays the same. The real crux of what we have always
done and what we have always encouraged our customers to do is to
offer up great values. Business always goes through cycles,
but our belief is that by offering extreme values on the wholesale
or retail level that customer loyalty becomes a given as great
values keep people coming back.
Over
the years, the marketplace has become more crowded as the dollar
store market has become a true mainstream business. It is hard
to go to a strip center and not see a dollar store. We see
this as good news as the customer has become far more comfortable
shopping in dollar stores where in the early days of the dollar
store there was somewhat of a stigma associated with shopping in the
discount channel. While increased competition is never easy,
it does allow the consumer to separate a great store form a mediocre
store and the great store will keep customers coming back.
So,
what makes a great store? What makes a great wholesaler?
Thankfully whether you are selling on the wholesale level or the
retail level, the answer is very similar. Customers want to
know that they are getting a good deal on items that they can easily
identify with, and feel good about buying. What we have
continuously done over the years is to make our packs of items as
value orientated as possible. Sure, a 3-pack of toothbrushes
is a fair value, but by making it a 12-pack the value is so strong
that the consumer cannot help but realize that they are getting a
GREAT deal. This same concept holds true on hundreds of items
and by offering values that shock your customer, you take them from
possibly coming back to your store to them WANTING to come back
because they are eager to see what they will find next time they
come to your business.
The
concept of value oriented selling or loss leaders in nothing new,
but unfortunately it is something that not everyone uses
effectively. This is something that wholesalers and retailers
should always be looking at and making sure that every time that you
walk around you own st9ore you find yourself marveling at the deals
that you are offering. If you are still walking around your
own store and are impressed with the deals, imagine how blown away
the consumer will be.
Sure,
the landscape has changed. There are more venues now for
customers to show than ever before. But as much as things have
changed, things are still the same. Give the customer a great
deal and they will keep coming back. This is a foolproof
system to keep your customers loyal and excited to give you their
business again and again.
Rob and
Danny Kole
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