Just because a company specializes in discontinued inventory and closeouts doesn't mean they are clairvoyant or geniuses. Closeout websites list hundreds of new deals every week but they don't all sell. So what do companies that sell excess inventory do with their dead stock? Good question.
Liquidators For The Liquidators. Even closeouts can be stubborn and not sell well. Just because something is cheap or bought at a discount doesn't mean it's a guaranteed deal. Discontinued inventory does not always sell just because the price is low, and we are often forced to sell excess inventory at a loss.
Mark It Down Again. You may have closeout websites you like to visit to visit or daily deal sets you prefer to shop on. These e-commerce retailers that sell excess inventory are always marking down prices. That's why they often have flash sales where you can buy discontinued inventory at special prices for a short time only.
Bundle It. One good way companies selling closeouts get rid of their excess merchandise is to bundle it with other products. So if the plush elephant is no longer selling, put it together with a baby rattle and blanket and sell everything together as a closeout. If you are in the housewares business and have a fry pan for sale on your closeout website, you can bundle it together with a spatula and measuring cups to create a new deal for your customer. This is a great way to get rid of old merchandise that isn't selling well.
Give It Away. People love getting stuff for free. Have you considered giving something away each time a customer buys your closeouts. This can be a special thank you if you have an online business selling excess inventory on closeout websites. You can give away free stuff with every purchase of $50 or more. You can also give away free stuff related to what your customer buys. Every order for your new bike lock comes with free closeouts of biking gloves and a a bike sticker. You get the idea.
Every company has unsold or surplus inventory to get rid of. Including companies like ours that specialize in buying excess stock and closeouts. It isn't always an easy task to get rid of slow moving products but we must do it to create cash flow and make more space in our warehouse. Just because we are in the game of helping others get rid of their dead stock doesn't mean we don't have the same problems.
Closeout websites like Liquidation.com and Overstock.com were created specifically for the purpose of helping companies sell their excess inventory. In the past, we have identified merchandise to get rid of and listed lots for liquidation sales on these platforms.