How To Get Rid Of Excess Merchandise

Let’s face it, running a business isn’t always smooth, and there are many aspects of the business that are less-than-optimal. One of these things is the fact that you will always end up under-selling some of your items.

Some people refer to this as closeouts, some refer to it as “excess merchandise”. The thing that matters for you is that you simply want to get rid of it and move on to focus on your current season of products.

There are many ways to accomplish this goal, but the one thing we always recommend you try out at first is to simply go ahead and have a sale where you let your customers know “everything must go”.

The bad news is that these sales often don’t go too far. If a product was severely undersold in a certain market, it won’t magically sell if you hold a closeout sale. Have that sale anyway, but don’t expect wonders.

After you have your sale and see what you can get rid of that way, it’s time to research closeout companies. Contrary to what the name might imply, these companies don’t just deal with closeouts in the sense of a company closing down. They deal with excess merchandise on a regular basis as well.

You will want to study the logistics of several such companies and how practical it is for you distribute to these warehouse operations. Some companies even will act as a 3rd party warehouse or public warehouse for you.

You will have to study the benefits and disadvantages of each closeout company on your own. The only tip we can offer is that if this isn’t a one-time-thing and you have a regular steady stream of excess merchandise, you might want to not rush the selection process and interview everyone.