What To Do With Excess Holiday Inventory
As a small business, tying up your cash flow with excess Holiday inventory hurts your profitability. You have several options for handling unsold merchandise; you just need to determine the methods that keep your company in business. By looking at the different ways to handle excess consumer products, you can choose one or more of these ideas that best meet your unique needs.
When you have leftover Holiday inventory that is not dated and does not account for a significant amount of your cash flow, you can save it for the next season. This works for limited quantities of popular products, but not for high-end merchandise or items that may expire.
You also need to consider the costs of storing this inventory. If you have the space, it is not an issue. If storing products adds to the cost, you are losing more than just the sales value of your merchandise. Also, consider if by storing inventory you are using space that could be used to hold newer, current inventory.
Half-price sales are always a popular option for extra Holiday inventory. This is one option for smaller businesses, as long as the company can still receive a reasonable price for the merchandise. However, be careful this does not tie up space for newer inventory.
Donating excess inventory to a charitable organization can provide you with a tax benefit. If you can make the most of the tax write-off, you have a winning situation. Unfortunately, many smaller businesses do not have enough financial room to make this work with large quantities of products. In cases of smaller amounts, you may also find a benefit in donating excess Holiday retail
inventory to events that offer advertising in exchange for your merchandise.
BoxFox offers a business-to-business (B2B) resale service that connects retailers and authorized buyers. Working with BoxFox makes getting the most out of your excess Holiday inventory easy. You simply upload an inventory file or list items individually. You will receive offers on your merchandise from interested buyers within three days and have the choice of accepting an offer or not.
Ultimately by selling your surplus holiday inventory through a resale platform you will improve cash flow and free up shelf space. Your customers want the new spring and summer products, so move the excess holiday inventory out the door with BoxFox.