Retailers highlight new or key products through well-planned and shoppable merchandise presentations in order to promote full price selling.
Sale merchandise and slow-moving stock, on the other hand, are rarely romanced the way new or popular products are. As a result, the desirability and profitability of that inventory plummets.
But what if it doesn’t have to? What if you could sell slow-moving stock at full retail price by doing more of the things you’re probably already doing?
Sale merchandise and slow-moving stock, on the other hand, are rarely romanced the way new or popular products are. As a result, the desirability and profitability of that inventory plummets.
But what if it doesn’t have to? What if you could sell slow-moving stock at full retail price by doing more of the things you’re probably already doing?
Visual merchandising and display techniques are used to elevate the customer’s shopping experience and enhance the overall brand narrative. They also can — and should — be used for both full price and markdown inventory.
In an interview with Vend, a cloud-based point of sale and inventory management software company, I shared tips to adopt, pitfalls to avoid, and proactive approaches for managing slow-moving stock.
This week, as part 1 of a 3-part free inventory management class, I’m diving more deeply into different ways to implement these five merchandising tips to breathe new life into stale products:
I also created a free PDF checklist that features all 14 ways to sell slow-moving stock at full retail price. When you sign up to receive our email updates you’ll also receive this valuable resource.
In an interview with Vend, a cloud-based point of sale and inventory management software company, I shared tips to adopt, pitfalls to avoid, and proactive approaches for managing slow-moving stock.
This week, as part 1 of a 3-part free inventory management class, I’m diving more deeply into different ways to implement these five merchandising tips to breathe new life into stale products:
- Re-merchandising your inventory.
- Merchandising complementary items together.
- Double- or triple-exposing slow-sellers throughout the store.
- Creating mobile merchandising statements.
- Creating merchandising strategies by store location.
I also created a free PDF checklist that features all 14 ways to sell slow-moving stock at full retail price. When you sign up to receive our email updates you’ll also receive this valuable resource.
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As you watch this week’s inventory management lesson — part 1 of a 3-part free class — pay special attention for these important components:
- Think beyond merchandising new inventory and "filling in holes" as items sell out.
- Leverage the success of other items through proximity. Like real estate, adjacency helps define value.
- Marketing's Rule of 7 is about multiple exposure. Use mass exposure, not scarcity, to motivate action.
- Re-engage your sales associates or selling team with an unpopular item.
- Establish credibility within a tight-knit community or sub-group of shoppers.
Which merchandising tips do you think will help you improve cash flow and preserve profit? Take some time to reflect right now and then comment below!
Don’t forget to get your checklist with all 14 merchandising tips here.
Don’t forget to get your checklist with all 14 merchandising tips here.
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