Mindy Uitermarkt, owner of the Stepping Stones Christian Bookstores chain in Iowa, starts by relocating slow-moving merchandise to a different area of the store to see if increased visibility sparks new interest. If sales still lag, she introduces moderate markdowns to encourage purchases. When neither of those strategies works, she returns the product to the vendor if possible.
Mindy practices routine returns twice a year— after Christmas( January) and again during the summer months( July – August). But she also allows for more frequent returns if it merits. As Mindy points out,“ Non-returned products that aren’ t selling are dollars sitting on your shelves. Removing them creates room for inventory that might sell faster.”
Non-returned products that aren’ t selling are dollars sitting on your shelves
Even if products can’ t be returned, you still have options for moving slow sellers out the door and recovering at least some of their investment.
Create Product Bundles. Pair dead products with highdemand items. Mindy likes to bundle one slow or nonmover item with something that is selling at a price where she comes out with a win.
Build Grab Bags. Mindy creates grab bags using dead inventory and includes boxed cards or a book, plus items she receives for free from CPE, such as lip balm, bookmarks and pens. She tries to make a $ 5 grab bag contain a value of $ 40 retail and a $ 10 grab bag have approximately $ 80 retail. Her goal is to ensure that it’ s a winner for the end consumer.
Create a Clearance Section or Run Flash Sales. Designate an area, such as a table or a bin, to deeply discount items so they sell faster and free up shelf space for profitable products.
Partner with Local Events. Mindy starts clearing out inventory in July to make room for fourth quarter arrivals, which makes summer a great time to participate in local events. Since all three of her stores are located downtown, there are plenty of opportunities to connect with the increased foot traffic. During many of these summer events, she uses“ discount tubs” which offer deep discounts on books and other great deals for the shopper.
Offer as Free Gifts. Include the dead stock item as a complimentary“ gift with purchase” to incentivize sales of other merchandise.
Change Sales Channels. Try selling the items on secondary online marketplaces like Amazon or eBay or online booksellers like Alibris.
10 CRA today / www. christianretailassociation. org