Is extra inventory weighing you down? Especially in the wake of the bustling holiday shopping season, you may have a surplus of items piled on store shelves or in storage. Excess product is bad for business — it ties up cash flow, takes up valuable space in store and in storage, and stale product could negatively affect conversion in store.
Customers wants to see a fresh selection in store and online on a regular basis — especially your loyal customers who check back often. Not to mention the degrading value and quality of inventory that expires or is perishable. With that in mind, you can see the value in having strategies on hand to liquidate that inventory.
Getting rid of your excess inventory is a necessary part of any retail business. But it’s also an opportunity to improve your bottom line. So let’s take a look at six ways to get rid of your surplus inventory.