| Dead stock is like a boat anchor dragging on the | | | | to quit - be sure to mark this up to deliver a healthy |
| seabed, holding the business back. The only way to fix | | | | margin. Distribute flyers to homes in the area. Promote |
| a handle a dead stock problem is to deal with it. | | | | the sale to your own customers are a week or two |
| Start by understanding the scope of the problem. How | | | | leading up to the sale. Make it sound like this is a once |
| much dead stock is there, what is its value and how | | | | in a year opportunity. Invite a community group to run a |
| old is the stock? Retailers need to be able to answer | | | | food stall. |
| these questions easily. If they can't, they need to get | | | | Ask the supplier to take it back. If the stock which is |
| system in-store which enable the questions to be | | | | not performing was recommended by a supplier, invite |
| answered on an on-going basis. | | | | them to take it back and provide you with a full credit |
| A good point of sale system will easily identify dead | | | | in return for your continued commitment to them. Good |
| stock. Identifying the problem is two thirds of the battle. | | | | suppliers will do this as long as the stock is in a |
| Once stock that is under-performing and had been | | | | merchantable form. |
| identified, it is time to act. Here are six ideas for quitting | | | | Sell the stock on eBay. There are many retailers who |
| dead stock and still making some money from it: | | | | successfully use eBay for quitting stock which is not |
| Move the stock. It may be that a stock item is dead | | | | selling in-store. eBay is not for all stock items, |
| because it is in a dead location. The first step of | | | | experiment and find out if it works before putting too |
| dealing with dead stock is to move it to a better | | | | many items online. Trust that the eBay auction process |
| location. There are situations where a product range | | | | will find the right price for the products. |
| has been moved four or five times before the sweet | | | | Hold an occasion sale. The good old stocktake sale or |
| spot location was found. | | | | mid-year sale or anniversary sale - create an event |
| Change the price. Price may be the problem. It is | | | | which is unique to your business at a time when there |
| natural for retailers to this that an item may be too | | | | is little sale competition around. Theme the business |
| expensive. There are situations where an increase in | | | | appropriately. Have a limited number of items as loss |
| price has helped it sell. Pricing a product too low can | | | | leaders and leave the majority of the product at the |
| make take it off the radar of some shoppers. | | | | usual price. The key is to dress the store for the sale, |
| Hold an off-site sale. Group together with some other | | | | bring out the dead stock and present it in a different |
| nearby businesses, hire a community hall, and run a | | | | light. |
| massive sale. Choose the days of the sale carefully - | | | | Dead stock will remain dead unless it is moved in |
| you want maximum attendance. Talk to your suppliers | | | | some way. By engaging with it, retailers often find that |
| and supplement your dead stock with items they want | | | | it is not as dead as it may have seemed. |