Managing excess inventory and stock is always a challenge. It is either for the apparel ecommerce seller, the raw materials ecommerce seller, and you just name it.
Every ecommerce seller faces difficulties since they need to control expenses. Excess overstock is one of the major issues because it incurs costs in more than one area:
- Warehousing.
- Capital retained.
- Inventory needs to be moved.
- And much more.
This applies to any seller regardless of the platform used and how the project is handled.
How can sellers handle it? this is the focus.
Nowadays, there are proof ecommerce excess inventory solutions that help with moving overstock items quickly or to sell overstock online fast. In the process, businesses recover cash and are able to make sales faster and more efficiently.
Coastal Surplus Solutions’ role is giving you information about what we can do and how. We will work with you around different concepts and make sure you have actionable strategies in place… starting now.
Option 1: Flash Sales with Countdown Timers
While they sound slightly tricky, they are a powerful way to create urgency.
With more urgency, the more people want to buy and you clear out your stock.
Platforms like Shopify, WooCommerce, and even Amazon allow you to set up limited-time offers with countdown timers in specific.
They will grab the shoppers’ attention and promote your items quickly. As a result, you get faster sales and more efficiency in not only your overstock but also other items you list.
The way you can make this work is by featuring your surplus inventory in a dedicated sale section. Start your countdown and establish a very short period. Anything from 24 to 48 hours.
This works perfectly on Shopify because of the comfortable options. However, other platforms can be adapted.
We recommend combining flash sales with free shipping or a few bonus gifts if you need to boost conversion rates even more.
Many people open brand-new places and make them a Shopify store excess stock and with unique items.
Option 2: Bundle with Bestsellers. Doing So Boosts Your Benefits
While bundling is not always the #1 option since it depends a lot on your items, we highly recommend doing it when you have excess.
It is a classic way to get rid of your old inventory while still generating sales on new ones.
You can pair high-demand products with slow-sold pieces, making them quite profitable.
For example, the typical but efficient formula includes “Buy One, Get One 50% Off” and it sells quite well.
This creates urgency once again.
People love getting something for less, which allows you to move your excess stock and work on your new inventory.
You can implement this on eBay, Amazon, or your own website. Just create a listing that combines overstock items with top performers.
Make sure to use clear product images and descriptions to highlight the value of the bundle. You don’t want customers to feel like you are scamming them when you’re not.
Combine different items and vary your bundles.
Case Study: DTC Brand Clears $100.000 Inventory in 2 Weeks
Is that even real?
With a good strategy, you can make miracles come true.
A direct-to-consumer (DTC) brand was stuck with $100k in unsold seasonal merchandise.
This is frequent, as many brands tend to stock seasonal pieces, but they don’t measure according to demand. Other circumstances could have also taken place.
This DTC brand focused on running a series of flash sales with countdown times even before the season ended.
They bundled slow sellers with their best options and ended up in the best outcome:
- Cleared all the inventory in just 14 days.
- Recovered working capital for new launches.
- Grew their email list due to all shoppers getting the products.
Focus on The Circular Economy
More than making profits, it is also a way to support the planet.
According to the Green Living Blog, surplus goods and giving items second chances as well as finding them new homes brings 25% cost reductions. In the process, you profit from them and still get your investment back.
At Coastal Surplus Solutions, we support this approach and for ecommerce sellers, we want you to know this is viable.
You can contact us to get more information and work with our team through your inventory.
