If you are concerned about excess stock and are determined to clear it, you have to understand why this concerns you in the first place in order to set up a clearance strategy. This situation is not negative, to the contrary consider your excess stock as an asset that you can make profit out of it.
So, you have extra stock, it’s no big deal; let’s focus on liquidating it.
Choose the way to proceed the sale (your options are explained in our previous post): online flash sale, online permanent outlet, multi store brand, discount shop. You can, of course, divide your stock and sell it to as many options as you want.
In order to proceed to your clearance strategy, you need:
First, you start by making your inventory, you have to know what you have in your warehouse otherwise you won’t know how to set the proper clearance strategy. Do it carefully, you don’t want to sell more than what you have or your customers won’t be happy.
We know that making an inventory is a lot of work but you can always delegate the dirty work to third party companies such as BYB if you don’t want to do it yourself. Why not take advantage of this service and spare yourself some time?
The photos have to be high resolution as a low-quality photo does not give the best image for your brand and we don’t want that. Ideally the image size should be 1500 x 1500px and a resolution of 72 DPI.
There are two types of photos that you have to take: packshot and lifestyle. In the packshot photos, shoot your products’ side and front centered on a white background and with a proper padding around them. In the lifestyle photos, you can give life to them by putting them on a context to valorize them.
Remember that the website is just a showcase, customers have to be led to think that they must have your products only by looking at the photos so your products have to be perfectly displayed.
Photos can also be taken by BYB as an additional service.
Organize your products by SKU, then add the specifications concerning your products such size, color and description so customers can have a better idea of your product.
Describe your product as it is, do not over sell and do not underestimate it either. Your description must be clear as it may reach an international customer; the clearer the description, the higher the chances to reach new customers are. An ideal short description should be 100 words long and 300 for the long one.
Refer to your account manager
If you do not know which option would suit your brand better (whether physical or online sale), you can always reach out to an expert and seek professional advice; it is better to let them advise you on how to handle your stocks. After all, it is their job, you might as well ask for their advice.
There is always a way to clear your stock, learn how to manage it.