Having dead stock at hand is so common enough a problem that many businesses suffer from it from time to time. Fortunately, there are means to minimize such occurrences thereby reducing losses. Here are five of them.
Free Gifts with Purchase: Depending on your industry this may or may not be possible. Also, it may not help with your bottom line except by freeing space up which you can use for faster-moving products. It may not be as effective but it absolutely cultivates a good relationship with your customer increasing the possibility of more sales.
Bundle Products: You could offload dead stock by bundling it with another product that you sell. This method is also called kitting but of course, your profit margins will take a hit. And again, depending on the industry, this method may or may not suit you.
Return Goods to the Supplier: If you’ve suddenly ended up with surplus goods, you may be able to return these goods back to the supplier. Even if the supplier doesn’t offer you the full amount, you are likely to reduce the damage done.
Different Sales Channels: If you are unable to sell at your brick-and-mortar stores, perhaps a change of channels would help. Maybe try selling online via eBay or Amazon or Facebook Marketplace.
Wholesale: If you are unable to sell dead stocks to your customers, perhaps you could take advantage of the wholesale market. You may be able to sell to ANOTHER COMPANY.
And that is exactly where we come in. We are one such company, one of the largest, that could buy your dead stock and export it.
