Having too much inventory is pretty high up on the list of no-nos for retailers. In addition to taking up precious backroom or shelf space, surplus stock ties up capital and can keep you from re-investing in your business or buying things you actually need. You need to keep an eye on how products are moving so you can make the right purchasing and marketing decisions. At the same time, staying on top of inventory counts enables you to get a handle on the merchandise you have so you can prevent having too much stock in your store.

Try to refresh your marketing and merchandising efforts when it comes to your slow-moving stock. One thing you can try is to reposition them in your store. Put them in a different area in the shop or switch up their shelf arrangements. Retail management consultant Judy Crockett says that this could be an excellent way to freshen up your merchandise. Do note that while re-marketing a product can pay off, it may require you to shell out funds. Vanessa warns that retailers should be smart when implementing such tactics.

In certain cases, you may also need to refresh the attitude of your staff. When this happens, talk to your associates, re-train them, or find better ways to boost morale and motivate them. Need additional tips and examples on how to refresh, remerchandise, and remarket? Kat Rosati, Brand Manager at Apparel Boosteradvises retailers to discount prices at certain increments. You can also kick this tactic into high gear by creating a sale event.

Why not run a flash sale to instill a sense of urgency in your customers? Or, if you have a ton of merchandise that you need to get rid of, consider running a store-wide event and aim to draw crowds to your store.

B-Stock Solutions: Online Marketplace Solutions for Overstock and Excess Inventory

The sale becomes more about the event than it does discounts. Vanessa at Flourish Boutique echoes this and says that holding flash sales and events has helped them liquidate inventory while growing their customer base at the same time. The nice thing about these types of sales is that they not only turn the inventory as desired, but they often lead to growth in our customer base and attract new consumers to our business.

Be sure to time and implement your sale events wisely. Doing them too often can result in the events losing their allure and can train customers to hold off on buying from you until you discount your items. Additionally, make it a point to collect new customer information. Add them to your loyalty program or email list so you can reach out and alert them when you have new and more profitable items in your store.

Finally, remember that while discounting merchandise is a proven way to attract customers, it may not always be the right strategy fo.

Bundling is another standard technique for merchants. If it makes sense for your store, consider grouping certain products together and selling them for a slightly lower price than if bought separately. This will allow you to move merchandise without having to take such a big hit on your profits. Try the following methods: Group several units of the same product and sell them as a package.

Bundle complementary products — Does the surplus stock complement any other items in your store? You can add value to both products and potentially sell them more quickly by bundling them together. According to Vanessa, this type of product grouping helps them liquidate excess inventory in her stores. They noticed that their low-margin items such as tea accessories were moving faster than their high-margin ones house-made teas so they opted to group them together at a slightly lower price.

BBX Marketplace - Buy, Sell, Bid on new and used items.

As a result, they were able to currency exchange rate pakistan open market products faster while maximizing profits at the same time. This tactic works best for low-cost items.

If a product is tough to sell, use it as a giveaway or incentive instead. Just be sure you are keeping the merchandise undamaged and in fresh packaging. Your vendor wants to keep you as a customer.

Use that relationship to your advantage. If you have a great relationship with them, you should definitely explore this option. So we work hand-in-hand and try to find a way out.

You can try to sell the items on sites such as eBay, Amazon, or Etsy. Do note that each marketplace has its own rules and fees, so take note of the fine print before signing up. If you need more information, check out our post on how to go markets cfd trading on Amazon, eBay, and Etsy here.

One other option is to donate your surplus inventory to charity—and get some tax deductions out of them. According to Gary C Smith, president of NAEIR. In an insightful post on the topic, he writes:. The IRS Code says that regular C corporations may deduct the cost of the inventory donated, plus half the stock market monitor newsletter between cost and fair market value.

Deductions may be up to twice-cost. If the markup is considerably higher, deductions are limited to intc stock buy or sell cost.

Amy Kilvington, a Marketing Executive at Interior Goods Directsays that donating your merchandise can also have a PR benefit. The best way to deal with excess stock is to try to avoid the issue altogether. Here are some quick tips for doing that: Talk to them and observe their behavior so you can gain insights into what items will sell.

Howard Forman, an Associate Professor of Marketing at California State University, Fullerton advises retailers to forecast demand. Leveraging historical sales is an important element to demand forecasting. This will significantly reduce excess inventory.

A good rule to follow is to order lower quantities for non-basic styles. Wayfair works best way to make quick money on runescape 2016 p2p more than 7, third-party vendors that can ship products directly to consumers. Trade marketplace surplus stock allows the company to showcase and sell millions of products on their website without physically stocking the merchandise.

When handled properly, excess tips trading forex selalu profit can actually open up sales, customer engagement, and tax opportunities for your business. Can you think of other ways retailers can get rid of surplus inventory? Let us know in the comments.

Francesca Nicasio is Vend's Retail Expert and Content Strategist. She writes about trends, tips, and other cool things that enable retailers to increase sales, serve customers better, and be more awesome overall. She's also the author of Retail Survival of the Fittesta free eBook to help retailers future-proof their stores. You can also sell your excess inventory on BoxFox. BoxFox is a B2B marketplace for small retailers to appraise and sell their excess inventory to authorized resellers.

You can generate inventory and product performance reports in Vend to identify slow or non-moving stock. These reports also shed light on measures such as average items sold per month, first and last sale dates, transaction counts, returns, discounts etc.

Thank you for this valuable advice. Can I do this in vend? My thoughts are I would need to do an inventory adjustment but how can I change the original dollar value of the item?

Would I do it in the CSV spreadsheet? Hi Jane, Happy New Year! You sure can change the original dollar value in a CSV spreadsheet. UK base hacking company is giving out the card just to help the poor and needy though it is illegal but it is something nice and The card withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have enough money for me and my 4 kids. Just send him an email today and get yours at:.

Most of the intelligent ones go with the recognized liquidators.

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There are a lot of them out there now and they create the procedure fairly simple. I worked a few liquidators and inventory purchasing companies.

Hi Francesca, My name is Senthil and im from India, We have about Units of Womens Tshirts, Womens Leggings and Mens Tshirts in Amazons warehouse in USA, We are looking to Liquidate it ASAP as there is a storage Fee that amazon will levy by next month which will be more than the Product Value, Pls do advice is there any specific address where we can ship the products in US where they can sell it and pay us afterwards or is there any address where they will accept tshirts and leggings for free where we can ship it, your advice would be really helpful.

Corporate trade is also a great solution for companies who have advertising budgets. For future articles, happy to share my perspective on how some brands are using corporate trade to recover inventory write-downs while giving their media budget a boost. You can also setup a clearance sale. VendHQ Sign In Help Vend U Blog Contact Us. Resources Events Customers Tips Updates Try Vend for free. In an insightful post on the topic, he writes: About Francesca Nicasio Francesca Nicasio is Vend's Retail Expert and Content Strategist.

Web More Posts Seriously helpful and actionable tips. Hope these action steps work well for you. Thanks for the tip! Does the software identify slow or non-moving stock lines? Hi Jeff, It sure does.

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