The holiday shopping season is a major day for retailers. While increasing the sales of products, there will inevitably be overstock. Although we analyze the last year's and the recent data when we place an order with the factory, there are so many factors beyond your control.
Perhaps there may be less demand from customers when you forecasted. Or the weather gets wet or gets cold, customers are more likely to buy waterproof or warm clothes. Or the customer return the products due to they don't like, they don't fit or they don't need.
Still very distressed for the excess inventory? There are 5 ways can help you deal with it and minimize losses.
1. Product Recommendations
Count product inventory, make a fashion Top Pick List for each kind of product and advertise them on OEM and SNS. In addition, we can give some suggestion of the overstock products, while customers need some recommendations or ask questions about size and other on Facebook Message and Email.
2. Make a great sale about post-holiday clearance, off-season or overstock.
①Bundle Products Together
Bundle Products Together and offer a bigger discount than if customers buy them individually. That reduce shipping costs and increase order value.
②Make a Flash Sale
A Flash Sale can help increase brand awareness and traffic to your online store in the short term.
3. Excess Inventory As A Gift
When a customer purchases a certain amount or quantity, the excess inventory is given to the customer as a gift. That increase sale of other products and build a relationship with customers who are more willing to spend on your products.
4. Marketing Campaign
Make Marketing Campaigns like forward & comment the promo post, pick 10 customers to give away specific products. This helps us interact with customers to improve customer loyalty.
5. Closeout Buyers
Search 'clearance apparel' or 'buying closeout', sell them to closeout or liquidation dealers. It recovers your cost soon.
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