For retailers, keeping the excess inventory to a bare minimum is always on the to-do list. Besides taking up additional shelf-space, overstock products keeps the capital tied up and forbids businesses to re-invest it where needed. Hence paying regular attention to your sales and excess inventory data becomes all the more important. To be able to make the right purchasing and marketing decisions, it's imperative to keep an eye on how the products are moving. Simultaneously, inventory management enables you a control over the merchandise you have and prevents over stock in your store.
Still uncontrollable circumstances may lead to excessive inventory or over stock situations. A sudden change in the trend, failure of the demand forecast or a slow economy could be one of several reasons. So whatever your case may be, if you have overstock of merchandise in your store, there are several ways you can liquidate them.
There are several other ways for example bundling the merchandise, offering the over stock items as freebies or incentives, selling them on online platforms and alternatively you take help of liquidation companies that specialize in disposing off of your excessive inventory.
The product isn’t always at fault for not selling, many a time it's how the product is being marketed or positioned. Refreshing your marketing and merchandising efforts when it comes to your slow-moving or excess inventory can help a great deal. Freshen the display, move things around, create new, brightly-colored signage and replace worn out price tags, is something that can be easily tried.