Question: How Do I Sell My Remaining Inventory?

Where can I liquidate inventory?

12 Websites to Liquidate Inventory & Make Money from Excess InventoryLiquidateNow.

LiquidateNow is an online platform with vast specialization in liquidating excess and unneeded inventory.

B Stock Supply.

AAA Closeout Liquidators.

Product Liquidators.com.

Kole Imports.

Merchandise U.S.A.

BoxFox.

Liquidation.com.More items…•.

How do you sell excess clothing inventory?

Contact independent clothing stores in your area that carry items similar to the ones in your excess inventory and offer to sell your items at a discounted price. If your inventory contains items that are in high demand, such as designer labels, simply resell them at the price you paid.

How do you liquidate inventory in retail?

Surplus Inventory: 6 Surefire Ways to Liquidate it to Improve Your Bottom LineStrategic Placement. For in-store retail locations, getting attention for excess product is about location, location location. … Drop the Price. … Pop-Up Shops. … Bundles and Giveaways. … Digital Marketing. … Donate Remaining Inventory.

How do I sell my inventory?

10 strategies to sell excess inventorySell online.Offer sales.Bulk discounts.Give products extra exposure.Product bundling.Remarketing.Liquidation.Donate for a tax write-off.More items…•

What do you do with old inventory?

If you’re looking at a surplus of merchandise in your store, there are several steps you can take to liquidate them:Refresh, re-merchandise, or remarket. … Double or even triple-expose your slow-movers to sell old inventory. … Discount those items (but be strategic about it) … Bundle items. … Offer them as freebies or incentives.More items…•

What causes excess inventory?

Excess inventory usually happens when you have products that haven’t been sold because the amount exceeds the projected demand. You can end up having too much inventory if you fail to properly manage the stock. Such mismanagement happens in case of internal and external factors.

Is it better to have more inventory or less?

If you can no longer sell a product, it’s considered “worthless” and taken out of inventory. The loss will result in slightly higher COGS, which means a larger deduction and a lower profit. There’s no tax advantage for keeping more inventory than you need, however.

How can I sell my inventory quickly?

8 Ways To Make Money From Excess InventoryHere’s how to make the most of your excess inventory. Sell it to an inventory liquidator. … Sell it online. … Give bulk purchase discounts. … Start bundling. … Offer extremely steep discounts. … Use as rewards for customers. … Turn your excess inventory into gifts for references. … Give a donation for marketing purposes.

What are the 4 types of inventory?

There are four types, or stages, that are commonly referred to when talking about inventory:Raw Materials.Unfinished Products.In-Transit Inventory, and.Cycle Inventory.

How do I get rid of inventory?

How to get rid of inventory:#1: First, re-merchandise. … #2: Discount and then discount some more. … #3: Host Facebook Live sales. … #4: List on an online marketplace. … #5: Take items to a Consignment shop or list with an auction site. … #6: Host an in-store blowout sale. … #7: Donate it.

How do you turn slow stock into cash?

Here are a few types of sales to run.Clearance sale. … Flash sale. … Specific item sale. … Seasonal sales. … Take new product photos. … Place items in new places on-site. … Use new keywords in product title and description. … Bundle fast-moving products with slow-moving products.More items…•

How do you get rid of excess inventory?

Here are 10 ways that might help you reduce your excess inventory.Return for a refund or credit. … Divert the inventory to new products. … Trade with industry partners. … Sell to customers. … Consign your product. … Liquidate excess inventory. … Auction it yourself. … Scrap it.More items…

Who buys excess inventory?

One of the most popular ways of selling excess inventory is to find a liquidator, who will buy all types of inventory. Most clothing stores sell excess inventory clothing to such organizations. This is by far the fastest way to sell clothing inventory or any other excess stock you have.

What does excess inventory mean?

Excess inventory is a product that has not yet been sold and that exceeds the projected consumer demand for that product.

Where can I sell my overstock inventory?

For retailers who want to get cash for their overstock inventory, BoxFox offers a B2B marketplace where retailers can sell their underperforming inventory to another business, in a different market, who may have a better audience for the product.

What do retailers do with unsold inventory?

The products are usually sold to landfills or incinerated, but with billions of pounds of unsold items, it’s become a major issue. Major retailers and tech companies are now increasing donation efforts to avoid clogging landfills.