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:

  1. Do a flash sale for people looking for those after-Christmas deals; but they expect a big discount – at least 40% off.
  2. Offer the products to a monthly subscription box service at the wholesale price.
  3. If possible, repurpose the products into another product.
  4. Package them into a Mystery Box (a hot trend).
  5. 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.