If you plan on having January sales in 2020, your approach to doing so will have a big impact on your success. New Year sales represent the chance to boost sales and clear your stock. However, you must be strategic about how you get the job done. So, what can you do to reduce excess inventory?
Must-sellers
Firstly, make sure you give more attention to the stock you simply want to be rid of and how to reduce excess inventory will be simple. Anything that still has selling value can sit back for now. The stock you need to remove must be displayed at the front for everyone to see, putting it at the front of their minds.
Big discounts early on
Do not start with small discounts and then slowly increase over time. Doing so will only leave customers waiting for the number to drop or lose interest straight away. For a quick clearance, slash prices by 50 or 70 per cent and drop the numbers further later on if you must.
Capitalise on Christmas
The good news about January is that people like to shop to beat the Christmas blues. They want to hang on to any shred of Christmas spirit they can, which is why now is the best time to push discounts and get them excited again. At the same time, you may want to keep your shop windows or social media and website looking somewhat festive to keep spirits up.
Bundles and freebies
Now is a great time to make the most of bundles and freebies to help rid yourself of surplus stock. This is a great alternative to simple discounts as you can guarantee more sales with a faster clearance. Think 3 for 2 or BOGOF offers to help clear the shelves and make way for new products.
Contests and Prize Draws
Finally, if there is any stock you really don’t want to leave taking up space, try giving it away! Bundle some items together in perhaps a hamper or giftbox and you could either raffle them off or simply use them as a way to market your brand online by posting competitions in exchange for likes, followers and sign-ups!
Get in touch with Monarch Shelving today for all your warehouse sale needs.
