Tip 3: How to determine the volume of purchases
Tip 2: How to determine the demand for goods
A trader wants his goods to be in demand and quickly sold out. But this is not always the case, especially if we are talking about a new product, unfamiliar to a wide range of potential buyers. The product may be of interest to people, and maybe stale for a long time, bringing a loss instead of profit. Therefore, you should first determine whether it will be in demand.
Carry out a marketing analysis, that is, examine the relationship between supply and demand for similar products in your area. Determine the average market prices, the average rate of turnover of goods, the approximate rate of return. On the basis of the data studied, it is possible to determine with reasonable confidence whether it would make sense to sell this particular product or not.
Try to identify the target audience, that is, conclude which category of customers will purchase your product.It depends on many factors, first of all, on the age and financial well-being of potential customers, as well as on the location of your store. For example, if you are selling food, and your store is located in a residential area, where the majority of the population are of modest means, then it is hardly worth offering them specialties from the category of the highest price category. But in the center, where more prosperous people live, where there are many offices of reputable companies, such a product may well find demand.
If possible, conduct a survey of potential consumers. Print questionnaires and distribute them to your customers, as well as to other stores located in your area. You can distribute these sheets among employees of enterprises, institutions with a request to fill out and leave at the entrance. Try to keep the list of questions short (so as not to bore or annoy a potential client), but at the same time it is exhaustive. Based on the results of studying the answers, you can create a more or less objective picture of consumer demand and make a conclusion: is it worth selling these products, or is it likely that they will not find demand.
If you have a network of distributors, you can give them small quantities of goods for sale, and see how the trade goes. The product will be quickly sold out - it makes sense to engage in its sale on a larger scale. Well, and if he stale - it is hardly worth betting on him.
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