It happens to every small retailer occasionally. No matter how hard you try to forecast sales trends and manage your inventory, you’ll eventually end up with a slow-selling product that you just can’t get off the shelves. What can you do when this happens?
One way is to promote this merchandise more heavily in your store. Move it to the front or even to a sidewalk display to bring shoppers in, and use prominent signage to capture customers’ attention. Of course, you can always offer discounts, and have likely already tried. You might need to do something really special if this slow-moving merchandise is becoming problematic. Try holding a one-day “flash sale” and marketing it as a major event. What you should never do, though, is allow slow-selling products to sit out at huge discounts for long periods of time. If you do this, shoppers will come to expect it and will wait to get the deals. You can also bundle your slow-moving products with big sellers, offering steep discounts on one item when you buy another. If all else fails, you can always sell to a liquidation company!
Read the full article here: 6 Great Ways to Move Slow Selling Merchandise