Smart Ways to Get Rid of Excess Stock

For retailers, having excess stock will not only take up precious backroom or shelf space, but can also tie up capital and can keep you from re-investing in your business or buying assets that help you grow your business.

Excess inventory can be a result of purchasing decisions, marketing or a change in the marketplace or supply chain.

However, there are a number of things you can do to sell or liquidate your slow-movers.

1) Refresh, Remerchandise, and Remarket your products – make them look new and fresh instore or in your marketing but be aware of associated promotional costs.

2) Double and triple-expose your merchandise — can you display in more places in order to attract attention?

3) Discount products — create a strategy around discounting so that you motivate shoppers.

4) Bundle excess stock — with complimentary or faster-moving products.

5) Use excess stock as freebies or incentives — offer low-cost items as an incentive for shoppers who spend more than a certain amount.

6) Sell them to liquidators and marketplaces — this may result in a lower return but free up space and capital for your business.

When handled properly, excess inventory can actually open up sales, customer engagement, and Profit opportunities for your business.

Need help in your retail business? We can help you get the insight to understand the value drivers beyond the numbers in order to Optimize Cashflow and Maximize Profit.

Sayed Irfan

I help CEO’s 🚀Grow & Scale their Business through Value Maximization

Virtual CFO I Strategic Finance Leader

Think Beyond Numbers!

Cut costs, save money, grow your business.

𝗥𝗘𝗔𝗗𝗬 𝗧𝗢 XCELERATE?

☎️Get started now: Send me a DM

✉Irfan.Sayed@cfocoach.co.zm