ANLA Management Clinic Quick Hit: Before you slash prices, try clicking mices
2/3/2010
Here's another great idea via the ANLA Management Clinic's Retail Swap Shop sessions: Before you discard or discount inventory items that you can't move, consider selling the stuff on eBay.
That's what one retailer has been doing, and the results are astounding. Initially, he said, he would simply do the gradual price-reduction thing, taking 10%, then 20%, then 50% off, just to get rid of products that weren't moving. Enter the move to wwwLand, and now the products are selling -- and selling at nearly the original price. For instance he said, one hard-to-move, high-end product had been marked at $300. He eventually fetched $280 for the item. And he got rid of most of the rest of his slow-turning inventory the same way.
What is they say, one man's trash is another man's treasure? Maybe you have some "trash" that needs to be taken out, yourself.