A Great Way To Get Rid Of Merchandise

A Great Way To Get Rid Of Merchandise

You want to free up the cash in those slow-movers to buy new, better-selling items for spring AND you want to lower stock levels, so you don’t have as much to count during your physical inventory.

One particularly useful markdown at this time of the year is a “buy-one-get-one-free” (BOGO). This promotion accomplishes two major goals:

1. Deep discount (up to 50%) encourages customers to buy

2. Moves twice as much merchandise to lower stock levels

Here are some ways to use the BOGO deal to get rid of your slow-moving stock strategically.

• You have a lot of one particular item: Do the standard, buy one widget, get one widget free. For most shoppers, this is a no-brainer.

• You have some slow-moving colors in an item: Buy an aquamarine widget (the slow-moving color), get a second widget of any color free. BOGO will help move all widgets, but specifically the aqua widget.

• You have some slow-moving sizes: Buy a large widget (the slow-moving size), get your choice of small or medium widget for free. This one’s good because the markdown will be less than 50% and you will be pushing that least popular size.

• You have two similar items that are overstocked: Buy a widget, get a thing-a-ma-jig for free. Great for gift givers who want to give similar but different gifts to 2 sisters, two teachers, two neighbors – or buy one for me, one for you!

• You have a bunch of unrelated, but slow-moving items and not enough of just one to do a good single item BOGO: Buy any one item on this table, and get a second item from the table for free. Bargain hunters love this one, and you’ll move a lot of merchandise in a hurry!

Have fun with this one and watch your cash accumulate while your leftover inventory disappears!

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