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Neopia's Fill in the Blank News Source | 16th day of Eating, Yr 23
The Neopian Times Week 7 > Articles > Is There Success in Shopkeeping?

Is There Success in Shopkeeping?

by chongshipei

Now, as we all know, one of the most important factors to get rich in NeoPets world is to be the proud owner of a successful shop. Shop generates profits for us. And profits=Neopoints. However, there are millions of shops in NeoPets. As a Newbie is it possible for your tiny shop to compete with the bigger shop of your richer neighbour? Can your shop really shine out among the millions of shops in this competitive Neo shops world? Yes, it is possible. Don't forget, all the successful shops you now see used to be a tiny shop as well. But success doesn't come if you never put in the efforts needed to achieve it.

I am a Newbie to NeoPets, even now. Since I joined NeoPets for less than a month. I've totally played by the rules. I started my shop as a shop with space for ten items. I invest the whatever little amount of Neopoints I have in order to have a shop that is better than the other people, particularly my friends. I need neither tips nor help. I just used a bit of common sense. I put myself into the shoes of a consumer, what a consumer will like to see from a Neo shop. And two weeks after I started my shop, I am able to upgrade my shop into a middle size shop, one that can hold 90 items. And it earns a total of 33000+ profits. Not a great achievement. But good enough for someone who, two weeks ago, have less than 1000 NP, and who logged onto NeoPets twice a week only. This is no miracle. It is careful planning and using the common sense. I will now unfold my secrets to all of you.

I will classify the five most important elements of a successful shop as these:

1) Price (Most important)
2) Popularity
3) Types of goods
4) Stock up time
5) Size (Least important)

Now, ask yourself, "Does my shop has the five elements of a successful shop? Are the prices of my items cheap or expensive? Is my shop well known, or is it not even known at all? What types of goods do I sell? Do I sell an infinite variety of goods that are not linked in any way or do I focus on a particular kind of good? Do I sell rare items in my shop or highly common goods? How fast do I stock up my shop? Within days, weeks or months? What is the size of my shop? Is it big or small?" If you have the five elements of a successful shop, congratulations, you don't need to read this.

How to tackle the five elements:
1) Size
As a Newbie, we have much to lose out. The size factor of a shop is a problem. We can never compete with the owners of bigger shops than our ones in term of size, due to our lack of sufficient Neopoints to upgrade our shop. Our mere five/ten items shop is nothing as compared to the hundred items shop, or thousand items shop. Thus, we are at a disadvantage, if we do not do something to improve our situation. Imagine. If you are a buyer, will you rather visit a big shop that has a large variety of goods or a small five/ten items shop? As rational being, we will visit the bigger shop since it has a higher chance of selling what we want. My advice is, try to upgrade your shop if you have the ability to do so. A five/ten items shop is too small. If you don't intend to own a big shop. Have at least a shop that stores 40/50 items. Remember that a shop can also be used as a free storage system for your items that cannot fix into your item and special deposit box.

2) Stock up time
Stock up your items fast. Use the quick stock option to stock up your shop. Nobody loves to click onto a shop and then, to realise that there is nothing for sale in that shop. I wouldn't like to, either. Imagine. One day, your shop becomes successful and people began to bookmark your shop. If they revisit your shop to find that your shop is totally empty, you can be sure of one thing. Bang. They UN-bookmark your shop as they might think that you are no longer playing NeoPets. That will be pretty sad, wouldn't it?

3) Types of goods
The types of goods you sell are pretty important. Specialized shop will have a higher chance of getting people who visited it once to revisit it, again. It also has a higher chance of getting more than an item sold. For instance, if you focus your shop on selling books only, people who are hunting for books came to your shop in an accident. They saw the wide varieties of books you have and they are hunting for books, guess what they might do? They might go on a shopping spree. And might even bookmark your shop. On the other hand, if your shop is not focused and sell just about anything. There will probably not be many revisiting people. Or people might buy only an item in your shop. Next, you must know that shops that sell rare items will attract more people than a shop that sells common items.

4) Popularity
Well, simple logic. If no one knows about your shop, no one will visit it, and nothing will be sold. Hence, popularity of a shop is important. Very important. Advertise your shop as and when you can, in anywhere you can. Get your friends to visit your shop and exploit mean, get them to buy from you. A beautiful design of your shop will help to keep people coming back. Build a reputation for yourself. Get people to revisit your shop. Be an active citizen of NeoPets. Get people to be curious about you. Make more Neofriends and mean, lead... them to your shop.

5) Price
This is the most important element of a successful shop. And I guess that it is probably the only element truly needed if you can do it well. Remember. Little profit is better than no profit. Don't overcharge. Don't plan to earn a super profit of few items. Rather, plan to earn many items at little profit. Cheap items are what attract people. Most people are smart. That is, they have brains. They know how to make use of the Shop Wizard to find the cheapest item. But remember, you are smart, too, smarter than they are, for sure. That is why you know how to mean earn your Neopoints through them. You know how to make use of the Shop Wizard to make sure your items are sold at the cheapest price so that the buyers all flocked to you. But don't sell at a price that is a loss. For instance, you buy an item at 105 NP; you must sell it at 126 NP at least. If you find the cheapest item is at 300 NP. Be smart; sell your item at 299 NP. You will now be the shop that offered the item at the cheapest price. And you still earn a profit. People will flock to your shop. Your little profit will accumulate. If you find out that someone sold the same item at 298 or any price lower than yours the next day, either buy that item from him and put it into your shop or negotiate with him and agree mutually on a price that will benefit both of you. Remember that a severe price war might lead to loss. Hence, be smart. Make good use of the Shop Wizard. It is not just the buyers' best friend but it is the shop owner best friend as well. Don't be greedy. Earn little but sell many is better that earn a lot but sell little. At least, in the former, you will surly sell your items and you will build your reputation.

Well, that is it. Wow. That is a pretty long guide. I actually meant to make it longer as I got more words than these to say. But I will stop here, so that you will not be so bored. Good luck with your shop!

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