Overstocked? How a Special Offer Will Help You When You Have Overstocks
When you are trading in physical products, overstocks are an inevitable and often costly problem. Being left with overstocked inventory can eat into your predicted profit margins and negate the great sales that you have managed to achieve.
Overstocked promotions can help sell your overstocks
If you find yourself overstocked there are several things that you can do to help to ease this financial strain. One great and easy to implement idea is to use your overstocks to run a promotion. Running promotions can help you to shift your excess products, get some extra cash and even improve sales on your new range.
Stock promotions can be as simple as 2 for 1 offers on overstocked products. Limited time discounts also work well as it gives the buyer an incentive to purchase right now rather than going away to think about it. Based on the same principle you can also run a promotion by highlighting the fact that there are a limited number of stocks left.
Overstocks can be sold using social media
Stock promotions can be run in store but they also work really well online. Using your overstocks to run online promotions can be really useful for driving traffic and exposing your products to a new audience. Once you have set up a promotion you can use social media to let people know about it. There are several Twitter streams and Facebook pages dedicated to finding great deals and offers online so try contacting them and asking if they will let their members know about your special offer. The great benefit of this is that once customers are on your website they may well click around and see what else is available.
Overstocked items work well with direct sales
Another option is to use your overstocked items to directly promote your new range and boost sales. You could package the overstocks as free gifts alongside other items, which will give customers a sense of value. Again, making this a limited time offer usually creates a sense of urgency and improves uptake.
Promotions of this type should help you to shift your overstocked items efficiently. However, the chances are you may still be left with some overstocks after the offer runs out. If you have tried everything else and you are still left with excess inventory you can always contact a dedicated stock buying company like Coorey and Co who will buy the leftover items from you and help to further close the gap between cost of purchase and profit.
Contact us to sell your overstocked products
If you have overstocks would like to sell your overstocked products to us, contact us and let us know your excess stock details.
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