What to Do with Dead Stock
How You Can Move Dead Stock with Better Shipping Options
In a perfect world, every product sold by an e-commerce business ends up selling out with ease. As most business owners know, that is not how it always turns out. From time to time, there is that one product that just sits and collects dust in a warehouse. Statistically, 20% of stock turns into overstock or dead stock. Having inventory on hand like this can cost a business financially in the way of lost space for storing new items, and the initial investment to source it.
As a business owner, if you are struggling to figure out what to do with dead stock, it may be time to consider offering customers an incentive for purchasing these items. Here are some ways to move dead stock off those shelves and into the homes of loyal customers.
Better Shipping Options
Shipping is often a sticking point for some customers. Nobody likes to pay for it, but everybody wants their items the same day or overnight. Many companies already offer discounted shipping when customers spend a specific dollar amount. If you’re trying to move stock that has been sitting dormant for months, offering free shipping can help. Instead of free shipping on a dollar amount spent, offer free shipping when they purchase the item you are trying to move.
In addition to free shipping, fast shipping is also vital. If you typically don’t offer overnight or same-day shipping options and your competitors do, it could be deterring customers from buying that item. Look for a local shipping company for fast shipping options. Smaller companies are typically more flexible in delivery choices and can pick up and deliver your items the same day.
Offer a Sale
If better shipping options don’t help move dead stock, it may be time to put the product on clearance. Even if you don’t profit from the sales, at least the product will be gone, and you can bring in something new that has a different result.
Choosing a Shipping Company
Being able to offer flexible and low-cost shipping options to customers depends a lot on the shipping company you choose. Not every company provides same-day or overnight shipping. And not every company will match your budget for shipping. Consider connecting with local companies that not only offer courier services for local and fast delivery but also rush trucking and tractor-trailer services.
Don’t let dead inventory hold you back from online sale success. Sometimes, you just need to think outside of the box you currently work in. When you’re ready to move your dead stock with better shipping options, contact Econo-Courier to see how we can help!