What Can You Do With Your Excess Inventory?

Although it can be beneficial to have an overstock of a particular product, it’s not always necessary. At some point, your company is bound to end up with excess inventory; however, too much inventory can be a wrong move for your business. Although there are resources that will help you with inventory management, here are a few other ways to help you utilize your excess inventory!

Offer a Flash Sale on Products 

There is no better way to get products to fly off your shelf than to create a sense of urgency behind it. When customers are convinced to believe that they need this product, they will do anything that they can to have it. One way to spread the word is to send out an email newsletter or start a social media campaign, on top of offering an instore promotion. Flash sales help move the items in your warehouse that haven’t been moving as quickly as you’d like.

Start Bundling Products 

Everyone loves a good deal! If you have excess products that you’re having a hard time moving, try gathering them together and selling them at an overall discount. You can even pair a less popular item with one of your best sellers to help it fly off the shelf even quicker. Although you’re using bundling to move products, customers will perceive it as getting more value for their money.

Turn Excess Inventory into Gifts 

If you have excess products, you can use it to get customers to share your business with their friends. For example, you can offer one free candle with every new client you refer to us. There are a few ways that you can customize this action to your business. Instead of giving away a product, you can offer a discount on that excess product.

You can also use your excess inventory as part of your rewards system. Once a customer reaches a certain amount of points, then they can claim their prize. There are plenty of creative ways that you can move your excess inventory.

At American Supply Co., we provide standard and bonded warehousing, licensed for food and alcohol storage. No matter the size, we will work with you to customize your storage and shipping needs to fit your company’s unique supply chain. We want to help you! Call us at 215-739-2627 and find out how we can help you with our warehouse services. 

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