How to Reduce Excess Inventory Before a Retail Move
Excess inventory, slow moving stock and dead stock can slow your business down by tying up capital and preventing you from investing in new endeavors. The following ideas can help you reduce excess inventory and improve efficiencies.
Regularly re-merchandising can make tired stock appear new, even to frequent customers.
- Pre-schedule re-merchandising 2-3 weeks after products are on shelves so that you and your staff have allocated time for this task.
- Put slow moving excess stock around your store in more than one location so it can easily be found by browsing customers.
- Encourage employees to model wearable excess goods to peak customer interest and create conversation.
- Display complimentary items together, and mix popular stock with slow moving items to give them a boost in interest.
- Don’t forget to re-merchandise classic, popular items as well as those that are struggling.
- Have a different merchandising strategy for each of your stores – not every location will benefit from the same ideas.
- Need to move excess inventory quickly? Donate it to receive tax deductions.
Make Use of Retail Logistics Management
Outsourcing your retail logistics management is a great option for stores with vast inventory to stay on top of.
- A professional retail logistics management team will be able to ensure your objectives are met with specific solutions for your store.
- A professional retail logistics management team will have the benefit of cutting edge technology to manage inventory.
Try FF&E Services
Retail furniture, fixtures and equipment services are popular particularly at the time of a store move or makeover. Changing up your store layout with new displays, fixtures and fittings can make old stock look new.
- Choose a professional retail logistics team to renovate a new store or deploy new fixtures to an existing store.
- A professional retail FF&E team will be able to complete fixture and display rollouts to multiple retail locations at the same time.
Warehousing services can help you better manage your inventory.
- Warehousing services can keep your shop floor and storage space clutter free for a more efficient day-to-day working environment.
- Warehousing enables you to keep seasonal stock in storage until it becomes relevant again.
Contact Beltmann Integrated Logistics
Beltmann Integrated Logistics can help you prepare for a retail move with retail logistics management services and retail FF&E services. We can also help with preparing for your retail move, and with physically moving your store to a new location, with technology to track every item and equipment that will enable us to move your store with minimal downtime. Contact Beltmann Integrated Logistics today.