You’ve found the perfect location to open your convenience store. You’ve signed your paperwork, crossed your T’s and dotted your i’s. But without stock lining your shelves, your store is still miles away from a ribbon-cutting. How can you build a convenience store inventory list?
You want your store to be unique and stand out from the other convenience stores in your area. Still, you want to stock the essentials that people expect when they walk through your doors. How can you balance these two things and create a convenience store inventory list with all of the above?
Check out this resource for convenience store basics every customer will expect. Plus, we’ll share some advice for unique items you may choose to stock that can set your c-store apart from the rest!
Elements of a Convenience Store Inventory List
In convenience store management, effective inventory processes aren’t just best practices — they’re fundamental to your store’s success. Your inventory is the beating heart of your store, supplying the products that keep customers satisfied and profits flowing.
Managing that inventory is a delicate balancing act where every item on your shelves plays a crucial role in meeting customer demands and optimizing your bottom line.
Related Read: How To Make a Convenience Store Profitable in 7 Simple Steps
But how do you keep your inventory in check? Simple: inventory management tools and software. For example, barcode scanners can help streamline your tracking processes, minimizing human error and speeding up inventory counts.
You can use a modern point of sale (POS) solution like C-Store POS to set par levels and reorder points. These features will alert you when you’re running low on a bestseller, helping you avoid product shortages that frustrate customers and send them out of your store empty-handed.
Worried about product spoilage and overstocking? Use a first-in, first-out (FIFO) system for inventory management! This practice helps you keep your inventory fresh and reduces the risk of unsold products expiring, unsold, on your shelves, protecting your convenience store profit margin.
Another best practice is conducting regular reviews of your sales data. What products are selling best? Are there any seasonal standouts for the upcoming season or holiday? Studying this data helps you fine-tune your offerings and maximize profitability and sales.
And finally, it's all about your team. Training your store employees in proper inventory handling and stock rotation techniques creates a cohesive effort that keeps your shelves stocked, your customers happy, and your convenience store thriving.
Armed with this information, let’s get into the nitty-gritty and discuss the essential inventory every convenience store needs to thrive.
Snacks and Beverages
When you think of a convenience store, the image of chips, candy bars, soft drinks, and energy drinks likely pops into your mind. These treats are the heartbeat of your store, satisfying cravings and providing quick refreshment for busy customers on the go.
Snacks and beverages are convenience store staples that keep people coming back to your store every week — or maybe even every day!
Related Read: 5 Convenience Store Trends To Increase Sales & Profitability
But how do you ensure you're always stocked up on these essentials? This is where a reliable POS system steps in. A strong POS system can effortlessly track the inventory of your snack and beverage offerings, helping you reorder top-sellers before you run out.
Household and Personal Care Items
Convenience stores may be famous for their snack selection, but you know there’s more to your store than just chips and sodas! Convenience stores also offer household and personal care items.
Many convenience stores stock basics like toilet paper, cleaning supplies, batteries, and toiletries to cater to customers’ everyday needs.
Convenience is the name of the game with these offerings. Your customers will appreciate the ease of picking up these necessities without having to trek to a big-box store. Your convenience store becomes a one-stop shop for both quick bites and household essentials, making it an essential part of your customers' routines.
To ensure you always have these staples in stock, you’ll turn to your point of sale system once again. Track your top-performing brands and products to determine which household and personal care items to continue stocking, and which to phase out of your store.
Basic Groceries
Have you ever been cooking dinner and realized you are out of a basic, household staple? You don’t want to run all the way to the grocery store, deal with parking and long lines, and trek halfway across a massive store just to grab a carton of milk.
Enter: your local convenience store!
Providing basic needs and pantry essentials like canned goods and condiments can allow your customers to run into your store for those quick necessities, rather than dealing with the hassle of a larger supermarket.
With a modern point of sale system, you can easily track these items, offering your customers unparalleled convenience and keeping your stock fresh and your selection curated to your customers’ needs. You can even plan ahead for seasonal products, ensuring you're ready to offer festive items and other essentials.
Tobacco and Alcohol
Many convenience stores also stock tobacco and alcohol products on their shelves. In fact, many customers in certain markets see convenience stores as their go-to destinations for these products.
Related Read: 4 Alcohol Marketing Guidelines You Need To Be Aware Of
However, it’s important to remember that selling tobacco and alcohol comes with unique considerations. First and foremost, you will need special licenses and permits to legally sell these products. You should also have practices in place to ensure the responsible sale of alcohol and tobacco products.
Here's where your POS system takes on an even more critical role. Your point of sale system helps you manage age verification, ensuring you can provide these products responsibly — serving your customers, maintaining integrity, and adhering to the law.
Health and Wellness Products
In today's health-conscious world, many convenience stores are stepping into the ring and offering health and wellness products. From over-the-counter medicines to vitamins and first aid supplies, these items can help your store meet diverse customer needs and communicate a dedication to customer wellness.
As a savvy convenience store owner, you know that catering to health-conscious shoppers requires careful management. Your POS system empowers you to closely monitor your health and wellness inventory, ensuring you're well-stocked and ready to provide essential products.
Watch for trends and shifts in the health and wellness market, and be ready to shift your inventory to cater to your health-conscious customers’ needs.
Lottery and Gaming
Lottery tickets and scratch-offs are convenience store staples that add a dash of excitement to your customers' visits. By offering lottery and gaming options, convenience stores serve as hubs of luck and fun, offering a chance at a big win.
However, much like alcohol and tobacco products, selling lottery tickets and scratch-offs requires you to adhere to regulations and obtain additional licenses. Different states and localities have different laws regarding the sale of lottery tickets, so take steps to ensure your store remains compliant with all applicable regulations in your area.
Related Read: 9 Must-Have Features of a Convenience Store POS System
Your point of sale system can help with your lottery ticket sales, too. Age verification features also come into play here, ensuring you can offer exciting products without accidentally selling them to minors, damaging your store’s reputation — and incurring fines along the way.
Local Products
Last but not least, you should consider stocking local products in your convenience store. Stocking products made or sold by local artisans and business owners can set your store apart, create a sense of community, and give your store a distinctive identity.
Local products show your customers you care about supporting the local economy and fostering a sense of community in your store. Forging partnerships with local artisans helps establish your store as a community hub for everyday needs and unique, local products.
A point of sale system with custom label printing capabilities can help you manage these local products! You can create custom labels and barcodes, giving each product an easy-to-scan sticker, even if the local artisan doesn’t provide them.
By using technology to enable you to support local craftsmanship, you create a shopping experience that stands out, resonates with your customers, and fosters a sense of community pride.
Managing Your Convenience Store Inventory List
Building an inventory list is one thing, but if you want to run a successful convenience store, you need a clear, robust process for managing and replenishing your inventory, too.
If you’re planning to track your inventory manually or use a spreadsheet application, you may want to consider another option! Manual tracking is time-consuming and error-prone, ultimately costing you more money than it saves you in the long run.
Instead, explore a point of sale solution with the features and functionality you need to track inventory, manage sales, and keep tabs on customer data.
C-Store POS was designed with convenience store owners in mind. Our solution can help you manage inventory for your store without breaking a sweat — or the bank. Schedule a demo of our software today to see how C-Store POS can help you manage inventory like a pro.
