How to get rid of overstock inventory fast?

by ufc17. Posted on Sep 09, 2020    4    14


So I have this huge problem right now and it sucks. It’s my fault though, but this is teaching me a huge lesson and I will learn from it. I have a lot of inventory that’s been sitting there for the longest and just taking up space which is... 1) just dead money sitting there and 2) it’s taking up space for fresh new inventory that I can be selling faster. My store and garage at home is where its all at. A lot of the stuff I bought for $50-$65 and I’ve been listing it on OfferUp/Facebook marketplace for $40-$60, but a lot of people either don’t show up or lowball me for like $20 and it’s kind of annoying since I’m already losing money and have to deal with stuff like this. Any recommendations on how I can maybe sell it faster to make space and recover some money and room to invest in new merchandise.


Comments

philosophyhurts 1

Can you club these products with your new inventory ?

Run a offer or deal online and see how it goes.

Codex432 1

Can you run a sale? That’s mostly how stores get rid of overstock.

Buy 1 Get 1 Free (or discounted)

You could always take the loss, donate it, and spin it into a marketing tactic.

wamih 1

What kind of business?

  ufc17 1

It’s retail like footwear and apparel

wamih 1

Amazon, Ebay, a local Liquidator?

Heatheranny2020 1

What products?

  ufc17 1

Retail..footwear and apparel

SouthOvHeaven 1

Send me a PM. I run multiple brick and mortars and online stores for footwear and apparel.

nimble_fox 4

do your products expire/spoil? If so taking the $20 might be in your best interest at this point. It really depends on what your product is and how much of a loss you are willing to take.

  ufc17 1

No it’s a retail business like footwear and clothing

Lildemon198 2

Then your products do expire. There just isn't a hard date, nor easy to see signs that it's expired. It expires (minus like solid color tee's and things like that) with the fashion trends.

nimble_fox 1

Arguably if OP waits long enough his trend could come back...I'm looking at you parachute pants!

But in all seriousness, inventory management is a struggle for a lot of retail and fashion brands...thats why you see clearance sales at almost every clothing store you shop at.

miss_six_o_clock 2

Especially if someone will take all of it at $20 per item. Take the cash, learn the lesson, get products that seek and move on.

theeastcoastwest 10

Price it a 35% higher and then take the low balls. That's legit the only way I ever sell stuff locally. You get close to the same amount of money you want and buyers get to feel like they're getting a deal. Obviously, there's a little bit of dependency on how rigidly the price is fixed for whatever you're selling in your local market.