People are losing jobs, businesses and entrepreneurs are facing the biggest crisis and we still are giving you hopes to sell your excess inventory. The best possible manner to liquidate surplus items is the online industry.
Pandemic has completely changed our lives. Various industries are affected in multiple ways but the only area which has boomed in these difficult times is the digital market. So we will be learning 5 ways to sell a surplus stock just by applying marketing strategies. Let’s start.
Online shoppers are greatest perks
Take maximum advantage of the online shoppers. Some people won’t move out of their homes even in days without lockdown. These are shoppers who like online purchasing. Adding to this, the lockdown has also seen a surge in online shopping.
Now, the first thing to be done is the digitalization of your business, if not already. If you have a website then initiate the marketing and advertising and enlist the surplus inventory online. People tend to search you online when they cannot reach the stores physically. Make sure you are not disappointing them and grabbing the most out of this opportunity.
You can also reach the third party to sell your products. This can be an eCommerce website or an online wholesale liquidation store that allows suppliers to sell their products with a huge customer base.
Find yourself an inventory liquidator
Excess inventory buyers, also known as inventory liquidators, purchase stock directly from merchants. We have an online b2b market where you can sell and buy excess inventory with a simple registration process. Excess2sell is among the best b2b portals in India that provides inventory liquidation services. This is the quickest way to free up room and make money.
Give discounts to your employees
Giveaways hit two birds with one stone. First, you are making your employees happiest while giving away huge discounts which help in employee retention. And second, the most obvious, movement of excess inventory. This works best with large industries and businesses with great employee strength.
Use FOMO to your advantage
‘Fear Of Missing Out’ can make people go crazy. Flash sales are top-notch techniques to clear surplus inventory. Give your customers trigger warnings through emails and messages, rigorously advertise about sales and see how fast your warehouse is cleared up. Flash sales and clearance sales are used to attract customers for not missing out on off-season products at immensely low rates.
Donate to Charity
Donating surplus inventory as a result of temporary store closures is one way for retailers to get rid of it. It frees up space for new goods, promotes the company instantly, and assists with tax deductions.
