2018-02-27 14:03:08 Growing a Business English Give your older merchandise a fresh look. Rather than letting products from previous seasons linger in your stock room, plan to keep it... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/02/Store-Owner-Reorganizing-Merchandise-To-Highlight-And-Sell-Old-Stock.jpg https://quickbooks.intuit.com/ca/resources/growing-business/give-old-inventory-fresh-appeal/ How to Give Old Inventory a Fresh Appeal

How to Give Old Inventory a Fresh Appeal

1 min read

You thought those mango-scented candles would fly off the shelves, but there they are, sitting on the bottom shelf of your candle section collecting dust. Merchandise doesn’t always move exactly when you need it to, and no matter how well you plan your inventory buys, you usually end up with products your customers ignore. But just like houses and people, you can give old merchandise a makeover to help it move out the door.

Try taking new photos of older products if it has been a while since you last marketed them. Seasonal outdoor backgrounds make just about anything old look fresh and new, especially on a sunny day. For example, if you sell kitchenware, take photos of those kitchen towels and potholders that didn’t sell last season arranged around an assortment of gourds in the fall or within an arrangement of berries and watermelon in the summer. You might even share the photos on image-heavy social sites, such as Instagram and Pinterest, and post a coupon code to pique your customers’ interest.

It makes sense to put your newest, hottest, trendiest products at the front of the store, or on your homepage if you have an online store. If you want to sell old merchandise, though, displaying it near the checkout counter, where your customers will see it, makes sense. For maximum impact and appeal, sort the merchandise first. Make sure it’s dust-free, and remove damaged items from the sales floor. Bundling older products with new merchandise is another way you can them appeal to deal-conscious shoppers. Imagine you sell coffee and have mugs that didn’t sell well. You could bundle a pound of coffee with a mug and raise the price of the bundle slightly. The goal here is to make a little money off the older product while keeping the price reasonable so the bundle is an attractive deal for your customer.

The back of your retail store doesn’t need to be "the land that time forgot." Freshen up older merchandise every season to earn back the money you spent on it.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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