If you sell on Amazon, you will almost certainly need to dispose of extra inventory at some point. Stock clearance is a necessary part of running a business, but it may be intimidating and even feel like a sign of failure. Excess stock held in capital stifles cash flow, consumes expensive storage space, and has a negative impact on your bottom line. It also makes it impossible for you to reinvest in your company.
The longer you keep surplus merchandise on hand, the more your resources are depleted. If this is the case in your firm right now, or if a slow-moving product causes you problems in the future, you should be aware of the options accessible to you if you need to liquidate your stock. To get further updates to visit this website.
8 Ways to Liquidate Excess Amazon Inventory
- Lower Your Prices
This is the most obvious and maybe fastest approach to liquidate your shares. You might progressively lower your pricing, or you may provide a deal that customers can’t refuse! A sale is a conventional means of lowering surplus stock levels in either case. There are several options available, such as offering a percentage or specific sum off, such as 50% or $10.
Alternatively, you could offer Buy One Get One Free (BOGOF) or just sell the excess products in packs of two, three, or four, depending on how quickly you need to get rid of the stock. Bulk sales are effective for things that consumers are willing to stock up on, such as cosmetic products, clothing and accessories, and popular food and drink items.
- Increase Your Advertising Spend
It’s possible that your stock isn’t selling because there aren’t enough people aware of it. If this is the case, you can promote the product by increasing your PPC advertising bids. While this will require some financial investment at first, it can assist to jumpstart sales in the long run, especially if you combine this method with a sale promotion or something similar.
Simply make a budget and stick to it so that you don’t add to your losses unnecessarily. Get the newest Web Retailer news, as well as exclusive deals, free downloads, webinars, and events from the finest eCommerce firms. Getting in contact with a Google ads agency might do the trick for you.
- Create a Bundle
Combining an unpopular product with a best-selling product is a brilliant way to efficiently liquidate excess Amazon inventory. You can raise your overall pricing while also providing a unique package to your customers by grouping things. If you adopt this method, make sure your bundled products are complementary to one another for them to appeal to customers.
- List Your Excess Amazon Inventory on Deal Sites
Just because your product isn’t selling well on Amazon doesn’t mean it won’t be successful on another site. There are numerous options, including eBay, Etsy, Walmart, and Craigslist, as well as Facebook Marketplace, Shopify, and Wish.com. In this manner, you may still be able to make a profit.
Maybe you just picked the wrong platform at first? You must first remove your merchandise from Amazon before selling through other channels. This comes at a cost, but it saves you money on storage expenses.
- Sell Your Excess Stock to Competitors
Yes, this is one of those wacky ideas that fly under the radar at times, but it just might pay off! This method will vary depending on whether your product is your own, someone else’s, or unbranded. The more generic your product is, the more likely it is to be offloaded to a competitor. Let’s face it, they’re not likely to want goods with your logo on them. You’ll need to brush up on your negotiating abilities for this one, as the goal is to get as near to your initial cost price as possible to avoid any losses.
- Sell Your Excess Stock to A Liquidator
This is perhaps the simplest approach to sell your stock. Simply sell all of your belongings to a liquidator. Liquidation companies are experts at selling surplus inventory; it’s what they do all day, every day.
However, you are unlikely to get the highest price for your inventory this way, and you have no control over what happens to it once it is in the hands of the liquidator. Unfortunately, Amazon’s own liquidation business has been stopped, so you’ll have to engage with a third party if you wish to sell to a liquidator.
- Donate to Charity
Here’s one option that won’t make you any money, but will make you feel good on the inside and, of course, will help those who are less fortunate. Simply gift your stock to a charitable organization. While this may not be possible for many things, items for the house could be donated to nursing homes, hospitals, and other organizations.
Schools or clubs could benefit from gardening supplies. Camping gear can be donated to Scouts, while clothing and accessories can be donated to thrift stores. Your donation will always be appreciated by someone or somewhere in need.
- Return or Exchange Your Excess Inventory
There may be an option to return or swap your products, depending on how long you’ve had the stock and your relationship with your supplier. Of course, the products must be in their original packing and undamaged.
If things aren’t selling, some vendors are willing to “exchange” them. After all, you won’t want to re-order from your supplier if your products aren’t selling. It’s in your supplier’s best interests to exchange them with things that will sell, so you’ll come back for more.
If you’re a clever seller who conducts thorough research, is open to ideas, and uses RepricerExpress, you’ll have a good chance of getting rid of old Amazon inventory that’s been accumulating digital dust.
But, if you haven’t already done so, it’s time to get on board! Yesterday was the best time to use RepricerExpress, and today is the second-best.