How to liquidate excess stock with better realization

Surplus inventory may be a challenge faced by almost every business. regardless of the propotion of the business, inventory management is one among the foremost crucial aspects which must be achieved seamlessly.

Here are a number of the best-proven solutions to urge obviate extra retail inventory and maximise profits for your business.

Source: www.goospares.com

Use an online marketplace:-

Online marketplaces, including goospares provide a perfect way to sell excess goods fast. You’ll either use an auction model, during which you'll set rock bottom price that you’re willing to accept for the item, or use a group pricing structure. If you’re employing a set price, make certain to research what other sellers are charging for an equivalent product: Online marketplaces offer access to a broad network of consumers. It can take a time to plug your products online.

Sell your excess goods to a liquidation company:-

If you've got tons of additional stock that you simply want to proceed as much as possible with minimal effort, a liquidation company could be your best bet. You'll lose out on some potential profits, but you’ll be ready to clear the space quickly and receive cash immediately. Particularly if your brand is high-end, you'll want to use this method to avoid damaging your name by offering deep discounts.

Creating Product Packages and Bundles:-

Packaging products alongside bundling them with a high selling product to liquidate inventory can step up sales to an honest amount. That’s where your visual merchandiser can put his/her talent to use and save the day also as bring along some profits to business. Ensure the new package may be a part of a trend and not standing out odd or simply as an add-on. The more the discount, interest or value a consumer finds within the product, the more willing they're going to be to distribute their hard-earned money thereon .These new packaged products attract more shoppers thanks to more cost-effectiveness, and thus, they're tempted to take a position their money in it. That is the foremost crucial and effective liquidation technique for inventory.

Change Your Marketing Strategy:-

The next strategy is remarketing. Your slow-moving products might not be selling due to how they're marketed. A touch little bit of freshening up could also be all you would like to urge them moving of the shelves. Once you write product descriptions they need to contain the proper keywords also as evoking the will to buy for. Try rewriting your descriptions using different keywords.

Seasonal Sales:-

You can utilize changing seasons or holidays to supply sales of your excess inventory. It’s an honest time to plug to those customers who are always trying to find an excellent deal. Using pop-up promotions to notify your shoppers is a method you'll market to bargain hunters.

If none of those solutions work, retailers can sell the excess inventory to liquidators. Inventory liquidator could also be an individual or an organization which buys non-saleable products at a deeply discounted price or would buy your redundant products then resells them using his/her branding. Although, this might incur some loss for the retailer, but it’s definitely better than having stocks compile within the warehouse adding zero value to the business.