Did you possibly over estimate your holiday sales and now you have excess product inventory that you need to get rid of? Here are 5 things to try:
- Do a flash sale for people looking for those after-Christmas deals; but they expect a big discount – at least 40% off.
- Offer the products to a monthly subscription box service at the wholesale price.
- If possible, repurpose the products into another product.
- Package them into a Mystery Box (a hot trend).
- Offer as a free gift with purchase of another item.
An inventory audit is just one of the business audits I cover in my Strategic Business Planner. I also include pages for doing a brand audit, customer audit, competitive audit, cost audit, sales channel audit, traffic audit, product audit and pricing audit.
© 2021 Gail Oliver. All rights reserved. 5 Easy Ways to Get Rid of Excess Product Inventory.
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