Excess inventory can be a huge pain point for campus bookstores. Today, we’re sharing some neat tips and strategies you can use to sell-through your old inventory and free up space for new products.
Offer discounts and clearance sales
A quick, tried-and-true method of selling excess inventory is to offer deep discounts. Everybody loves a good deal, and offering product promotions gives your customers a discount while creating a sense of urgency that entices them to act. Offering limited time flash sales, BOGO deals, and seasonal clearance items are quick and easy ways you can offer good prices on old inventory to your customers that will facilitate sales to make room for new products.
Highlight products on social media
We’ve discussed previously how strong a tool social media can be for your campus bookstore, and this case is no different. Featuring excess inventory on social media is a great way to revitalize attention and demand for products that seem reluctant to move. Students especially love using social media to shop for items and search for influences and inspiration in retail.
Ask team members to push items
If you have old inventory you’re looking to move, asking your sales team to push it to customers on the floor is a wonderful strategy. Train them on the main selling points of the product: how it works, where it’s made, when to use it, and how it helps customers. Then, tell them to recommend it to every customer they see and interact with while working the sales floor. You’ll be surprised by how fast the excess inventory sales out when customers hear about the product straight from your team!
Sources
https://lincsell.com/sell-excess-inventory/
https://fitsmallbusiness.com/how-to-sell-excess-inventory
https://archerytrade.org/10-creative-ways-to-move-old-inventory/
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