A market analysis consists of conducting a market survey and gathering information about potential locations and the community. This will allow the entrepreneur to assess the market potential of the proposed store and select a site. Usually small independent grocery stores are patronized by those who do not travel outside the community regularly or customers who are in a hurry. These customers are often willing to pay a few cents more for an item rather than drive several miles to a supermarket.
Combining this customer behavior data with experience and intuition, retail store owners can develop great merchandising strategies by keeping 3 product mapping points in mind: Increased transaction totals are a natural by-product. As you walk to the back of the store to get milk, you funnel past coffee, cereal, and toilet paper.
And the milk is right by the eggs and cheese. This is primary and secondary zone merchandising in action, and the reason people shopping for one item often leave with three or more.
Dan Jablons, a consultant with Retail Smart Guyshighlights the importance of putting necessary items near the back of your store.
What are your go-to products? Do you carry items that bring your customers back time and time again? Consider placing these primary and similar secondary product lines toward the back of your store. That way, customers must pass your new items and promotional displays on their way to check out the deals in back.
Zone Merchandise Low-Cost Impulse Buys at Your Checkout Impulse items like small toys, candy bars, lip gloss, and breath mints are great products to feature near your register. Placing low-cost impulse buy items near registers, as shown below, encourages shoppers to add an item or two as they check out.
Highlight Power Walls with Flexible Display Options Power walls are areas of your store where most customers naturally focus on and move toward upon entering. Pinterest Power walls are your go-to spot for hot finds, new items, and seasonal features that attract instant attention and pull customers through the entry area, into your store.
These areas are likely going to change frequently and you need to plan for it.
Outfit these spaces with versatile displays that can be easily changed to showcase various product groupings. Any place in your store layout that naturally draws traffic can be a power wall.
Tables shown abovespecialty display units, aisle endcaps, or even prominent spots near your register can be promotional power walls. Speed bumps let you feature new finds and hot sellers in eye-catching ways.
Larger outposts are great for special price stock or product groupings such as seasonal features and branded collections. Save money on specialty displays! Many manufacturers offer retailers low-cost or free specialty display fixtures designed to highlight their branded lines, like the one pictured below.
These make great speed bump or outpost display units on a tight budget.
Fixtures are permanent — fixed — parts of your store such as lighting, counters, fixed shelving units, and dressing rooms. Displays hold product and tend to be movable, versatile, and customizable, like modular units, gondolas, tables, slatwall, and clothing racks.
Fixtures and displays come in all shapes, sizes, and styles, which we cover in full detail in our store fixture and display guide here. So keep this in mind when choosing fixtures and display units: The ultimate purpose of fixtures and display units is to put your products front-and-center.
But at the same time, the overall look, styling, and finish is your biggest branding opportunity. Versatile slatwall display accommodates a wide range of products and display needs:I am thinking of putting up a mini grocery store as our location is ideal for such kind of business.
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Starting a grocery store is a very easy business and it is not so capital intensive. Getting the right products that people want to buy and good stock keeping records are the secrets of running a grocery store.
MillenniumMart convenience store business plan executive summary. MillenniumMart will be the first fully automated, hour convenience store that is more like an enormous dispensing machine than a traditional store.
Starting a Grocery Store in a Small Town – Legal Issues Best Legal Entity to Use for a Grocery Store Choosing a legal entity for a business is a huge determinant of the size the business will grow into, so choosing the right entity is very straightforward especially if you decided to grow the business .
1. Create the general business description for your convenience store. List the registered name and business structure of your business, such as sole proprietorship or Limited Liability Corporation.