If you are an office supply dealer, chances are you’ve experienced this – you’re stuck with a bunch of products in inventory that you don’t need, and that are not selling. Maybe you didn’t get rid of all the Holiday decorations you stocked last season, or you’re having trouble clearing last year’s Fall/Winter themed products.
Whatever the case may be, slow-moving inventory can be very frustrating and it hurts your bottom line. It keeps much of your business capital tied up in items that aren’t selling, and can seriously restrict your cash flow.
If you’re looking for slow moving inventory solutions, and need an inventive way to sell your inventory, look no further! We’ve identified three of the best methods below.
- Start With The “Clearance” Section
This is one of the most tried-and-true ways to sell your slow-moving inventory. Whether you run a brick-and-mortar store, or an online web store, you should have a clearance section with all of the items that have not been selling very well.
You should price the items to move – that is, they should be sold at a price that’s very close to the wholesale price. When you’re selling slow-moving inventory, your goal should not be to make a profit, but to break even.
Many people love browsing the clearance section, as it gives them a chance to see some great deals on products that they may need eventually. However, this can be a bit of a double-edged sword. Some people may assume that a deep clearance discount on an item means that something is wrong with it, and they may not buy.
How can you solve this problem? Find out below!
- Consider “Daily Deals”
If you run a store that typically does not have larger blowout sales, such as a boutique, and you want to avoid having a clearance section, you could consider running “daily deals” or even “weekly deals”.
You can set up a section of your store where you’ll advertise the items that have not been selling well – and give customers a limited-time discount if they purchase them. This allows you to avoid the stigma of a “clearance” section, but still move your inventory effectively.
See also: How to Prevent Boring Office Meetings
- Sell Extra Inventory as “Bonus” Items
If you can’t get rid of your items through clearance sales or daily deals, you could consider simply giving some of them away – for example, as bonuses to loyal customers. This is quite simple if you own a brick-and-mortar business.
However, it’s a bit more tricky if you run a web shop. Adding extra items to an order can mean hefty shipping charges – so consider whether or not this approach is worth it for your particular store.
These 3 Methods Are Sure To Help – But If All Else Fails, Turn To A Liquidator
Selling your extra stock to a liquidator is far from ideal, but it’s still better than having it take up shelf space at your store – even if you have to take a loss. But if you follow the 3 above tips from Double A Paper you’ll probably be able to sell the vast majority of your slow-moving inventory – and you may even be able to turn a profit!