Obsolete inventory usually referred to as dead stock can be quite frustrating for any business. When you have too much of what used to be good inventory, your cash is tied to it and you are not able to make future investments. The question is, should you send your dead stock to the dumps? There are ways in which you can recover some money even when you are getting bogged down with dead stock. One of the best ways to get rid of dead stock is to convert your warehouse into a store and have a warehouse sale. Here are a few things that you can do to ensure that a warehouse sell takes care of your dead stock and succeed in turning obsolete stock into cash.
When you turn your warehouse into a store, you cannot expect shoppers to know about it. Even if your prices are very attractive, you will not sale anything if people know nothing about the discounted sale offer. For this reason, you must make the new store a shopping destination through effective advertising. You can use a number of advertising avenues to get people to come to your store. You can use fliers and craigslist effectively. You can also use newspapers and classifieds, social media advertising, the word of mouth and the radio and television. With a successful marketing campaign in place for your warehouse sale, you will be able to offload dead stock very effectively.
Make Your Warehouse Attractive for Buyers
Warehouses are never intended for shoppers. For this reason, they will not look attractive and might not be appealing to shoppers. You can get your warehouse designed in an attractive manner so that it is comfortable and appealing to consumer shopping. You also need to take care of the flow of traffic and must make sure the pricing for the merchandise is right.
Traffic Flow and Pricing
Shoppers are likely to tag along with kids when they come for your warehouse sale. Safety is paramount when kids are around. You will have to block off areas of your warehouse that you do not want people to have access to and you can use orange safety fences to ensure kids as well as adults are protected. You should also use signs to help people identify rest rooms, to indicate that you accept credit cards or not, and to show people where to checkout. Signage is very effective in answering the questions customers have and will show how organized you are.
Pricing is another factor to consider. To move dead inventory, you must use very low pricing. You want to get rid of dead stock not make profits and you should discount the merchandise as much as you can. The idea is to recover the money from the dead stock and should this type of stock generate margins, you should consider that a bonus. If you make customers realize how much of a bargain they are getting, they will buy your merchandise.