There is nothing more frustrating than merchandise that doesn’t seem to sell. You already spent money adding it to your inventory, and the longer it sits there the more you’re wasting valuable real estate on a product that isn’t making you any profit.
It can be stressful, especially if you have a lot invested in the product. When you find that there is a lot of inventory that you cannot seem to sell, consider the following tips:
1. Offer it for WAY Below Wholesale
Of course, the most obvious option is putting it on clearance. However, as most retailers know, a popular product on minimal clearance can still take weeks to sell. It may be in your best interest to put up for sale at a very low price, possibly at a loss, so that you move the item quickly. Why at a loss? Because time is also money – the longer your item is on your shelf, the more you’re losing money on other items that could have been sold in its place.
2. Partner it With a Better Product
In the world of sales, 2 is sometimes greater than one plus one. If you take your item, pair it with something related that people do want to buy, and offer it for an affordable price, you may be able to sell the item faster than if you try to sell it alone on clearance. The partnered item and cost should make sense, but if they do you can often move your old inventory quickly without taking a loss, and in some cases profiting depending on the markup of the second item.
3. Sell it at Online Liquidation Auctions
One of the reasons that inventory can be hard to sell is because no store reaches every buyer. There is always someone, somewhere that wants the item, but if you can’t reach them you can’t sell to them. Online liquidation auctions are a valuable solution, because they reach more people and allow for bidding wars that could help you profit more than you expected in the future. Online liquidation auctions also allow you to sell quickly, so that you’re able to free up space in your business fast and get money for your unsold inventory in no time.
Getting Rid of Unsold Inventory
Retail sales are about movement. Product needs to move quickly to free up space and keep inventory fresh. When you have unsold items, it’s better to try to sell it quickly than to let it sit and take up space in an area that could be used for more profitable inventory. Consider the above tips to get rid of unsold inventory and keep your business profitable.

By | 2017-05-20T18:11:42+00:00 August 1st, 2014|Categories: Uncategorized|0 Comments

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