Running a retail shop in Lagos isn’t just about selling more products. It’s about selling the right products. High-profit products are those items that give you the most profit after deducting the cost of purchase. In a competitive market where prices can change overnight and customers are spoilt for choice, knowing which products bring in the biggest returns is a game-changer.
At Maxibuy, we’re all about helping Lagos retailers like you buy smarter, sell faster, and earn more. With our great prices, TeamBuy deals, and price comparison tools, you can easily spot the products that put more money in your pocket.
High-profit products are the items in your shop that bring you the most profit after covering their costs, and knowing them is key to growing your business.
Numbers don’t lie. Your sales records are a goldmine of insight. Look beyond what’s selling fast and focus on which products leave you with the most profit after costs. For example, you may find that while sachet drinks move quickly, a particular brand of premium malt gives you better profit margins per unit.
Don’t get too comfortable with one supplier’s prices. Remember, the market shifts constantly. By comparing prices from different distributors, you can spot opportunities to buy cheaper and sell at the same market rate. Using Maxibuy, you can check in seconds whether your usual supplier is giving you the best deal, ensuring your profit stays healthy.
Some items have steady demand even if the price increases slightly. These are often your high-profit champions. For example, a popular body lotion brand might still sell at ₦3,000 even if competitors are at ₦2,800, simply because customers trust it. With TeamBuy on Maxibuy, you can stock these premium products at a lower cost while keeping your selling price the same, boosting your profits instantly.
Think of items customers pick up on impulse while shopping, chewing gum, chocolate bars, phone chargers, and small toiletries. These often have higher mark-ups compared to bulk food staples. By grouping such products in-store and buying them in bulk on Maxibuy, you can make steady profits without increasing your main prices.
If only a few shops in your area stock a particular product, you can enjoy a higher selling price and better profits. For example, stocking imported cereal varieties or niche products can make your shop a go-to spot for those items. With Maxibuy, you can explore different product categories and spot trending items before everyone else starts selling them.
Customers often associate certain brands or packaging styles with quality and are willing to pay extra for them. That extra they pay? That’s part of your profit. For instance, a premium detergent in a fancy pouch might sell for twice the price of a generic equivalent, even if the cost difference to you is small. Buying such products at great prices from Maxibuy means you keep the bigger profit.
Profits are not set in stone. They can change with seasons, trends, and supplier costs. Keep testing products, adjusting prices, and monitoring sales. For example, during festive seasons, party drinks and gift packs might have incredible profits, but after the season, you’ll need to focus on everyday essentials.
Identifying high-profit products is all about being alert, informed, and strategic. The more you understand your numbers and your customers, the easier it is to focus on items that keep your business thriving.
At Maxibuy, we’re your retail growth partner. We are here to help you source smarter, buy cheaper, and sell better. Whether you’re using our TeamBuy feature or just browsing our great deals, we’re here to help you turn every shelf in your shop into a profit-maker.
Start finding your high-profit winners today with Maxibuy.
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