In today’s down economy, we all have to look for creative ways to bring up the bottom line. There are plenty of ways to do that: hike up your prices, fire someone and higher less qualified people, or change what you sell and where you get it. Buying novelty wholesale is a way to increase profits without compromising the health of your business.
Making money with Wholesale Novelties.
What are novelty items?
Novelty items are random things ranging from the common glow sticks and whoopee cushions to the extreme makeover of a horse mask. Without a doubt, wholesale novelty items you chose for your store should fit the general feel of your store. After all, it would be awkward to sell the dead-rat-keychain in a candy store.
On the other hand, a gun store could use the second amendment sticker with the American flag decal. Whatever your store is, you can always find wholesale novelties to fit it.
Why wholesale novelties are perfect items
There are plenty of good reasons why novelty items are beneficial for your store. The reason wholesale novelty items are perfect for selling in your store, is because it doesn’t change your store, yet allows you to increase your sales. These are not high budget items. Instead, these are small trinkets which people grab on a whim.
This means you don’t have to have a need to fulfill, just a whim to satisfy. With a wide arrangement of wholesale novelty items in your store, you are offering to scratch your customers where they itch.
How wholesale novelties increase the bottom line
There are two ways to make good profit from a store: sell a few high profit objects or sell a lot of low profit objects. Ideally, you find a way to combine the two. Wholesale novelty items allow you to add volume to your sales, by providing inexpensive impulse items. Few people will think long and hard about buying a pack of gum, or a soda. The same principle applies to most people’s view of novelty items.
By staying under the threshold of expensive, you will be able to increase the number of things you are able to sell in your store. There have been conflicting studies in advertisement and psychology about the threshold. The range of “expensive-inexpensive threshold” has been found between two and ten dollars. This fits nicely within the price ranges of wholesale novelty items.
As a result if you can stay under the expensive threshold, you can create a profit margin without expensive changes to your store. Many novelty wholesale items are significantly under the expensive margin to procure for your store. This would allow you a handsome profit margin, without scaring patrons away from buying your novelty items.
So what’s the bottom line?
Wholesale novelty items may hold the key to increase your profits and definitely amount to something to look into for your store.