Sales Strategy
Strategies for Retailers to Get Rid of Dead Stock April 07, 2022 (0 comments)
Mumbai, India--Jewelry has a life cycle. Their purpose? Getting sold to customers.
But sometimes all jewelry items do not get sold. "And that's normal," writes Yusuf Motiwala, a jewelry designer and manufacturer, in a LinkedIn post.
But it's also important for retailers to try to move that dead stock "any way they can." Motiwala writes that such items are "slow-movers" and block capital and store turnover. A "smart nudge in the right direction" might be all it takes to move that dead stock and improve capital flow/
Motiwala lays out some strategies to move the dead stock:
- Revamp, Beautify, and 'Trend Out' slow movers
- Offer discounts and organize a sale
- Strike off the labor charges
- Incentivize sales staff
- Promote slow movers online
- Turn slow-moving jewelry into corporate gifts
- Offer EMI to interested customers
- Get them exchanged with wholesalers