5 Ways to Sell Excess Storeroom Items
For retailers, having too much storeroom items is not a good thing. This not only take up too much of your shelf or backroom space, this also means that your capital is tied up. When that happens, it becomes hard for you to reinvest your business or to buy items which customers actually need. For that reason, it is extremely important that you pay attention to your inventory and sales data.
If you have excess storeroom items, there are ways you can get rid of them. Here are several steps you can do:
1. Remarket Your Items
If it is not selling, it’s not always because of the product. Sometimes, it is just marketing. In that case, you may need to simply reposition or remarket your excess items. For slow-moving stocks, try to refresh the marketing and merchandising you did before. You can also put them in different area or change shelf arrangements, replace worn-out tags or replace signage to make it new.
2. Bundle the Items
Another common tactic for selling excess storeroom items is by bundling them up. If it makes sense, consider having some items grouped together and then selling them for lower price compared when sold separately. With this, you can move your merchandise without much of a big hit to your profits. It’s also an irresistible offer that’s win-win for you and your customer.
3. Offer as Freebies
This is a technique ideal for low-cost items. If a particular item is real tough to sell, you can instead use it as an incentive or giveaway. It is ideal for an item that’s a dud but doesn’t cost so much. With this, you are basically deploying the product’s cost for marketing. Instead of sitting there, why not use it as freebie to add to your marketing efforts.
4. Sell on Online Market Places
You can also try to sell your excess inventory to online market places. There are particular online marketplaces that accept storeroom items. You can sell them on sites like Amazon, Etsy or eBay. The only disadvantage here is you will have to wait a bit since creating product pages can take time.
5. Sell to Liquidation Companies
If you can’t sell on online sites, you can go to liquidation companies to sell your surplus inventory. You can sell them to organizations specializing on taking out excess stock from merchant’s hands. You have to be aware though that most of these companies buy merchandize at real lower price range so it is likely you won’t get profit out of this method.
It’s important that you keep an eye on how your items are moving which allows you to make right purchases as well as right marketing decisions. In addition, it allows you as well to get a handle of the items you have so you can avoid having too many items stuck in your store.
Sometimes though, excess items problems can still turn up. There are things you can’t control which resulted to a pile up in your backroom. But even that may be so, the steps above can help you get rid of your excess storeroom items.
- Valuable Selling Skills
The effective selling skills include, reviewing the target audience, having a positive sales mindset, good knowledge with regards to the product or service you are offering, good communication and creating a good relationship with the customer.
- Things to Remember Before Selling Your Business
When selling your business, you need to prepare it for its potential buyers. You must know the best time to sell a business else you will not make the maximum money by selling it.