what is the best way to finish the old stock , cause we are going in promotion period?

Question

please give a Professional answer and simple ways

this stock is female casual clothes inside our showrooms

thank you for this help

Answer 1

I am really surprised how often I see this question pop up... ok... simple fast ways to reduce stock...

#1 -- have a sale -- mark the prices down to move the inventory faster. Advertise your sale!

#2 -- have a Clearance Sale -- Drastically mark down the prices... this one is really for the odds and ends items you might have left over, that need to be cleared out, but can work equally well with large inventories.

#3 -- DONATE your goods to a charitable organization! Put out a Press Release that you are doing so... this helps the charity, it generates good will for your retail outlet, cleans out your inventory, and here in the US... is 100% tax deductible. Examples of a good charity for this particular inventory would be GoodWill Stores, United Way, or even the local food banks! (They can distribute the clothes to the lower income families they help provide food for, or use them in a yard sale to generate income to purchase food).

#4 -- WHOLESALE your entire inventory (or as much as you wish to dispose of), to a "markdown" retailer, such as Big Lots.

There ya go... 4 easy, practical methods to reduce inventory, each of which will generate income, tax breaks, and help to boost your public image.

Have Fun!

Answer 2

Hopefully, you are not too over stocked, beyond your ending inventory,
as planned at the beginning of the past season.

I presume you are speaking of Summer clothing.

As we are in the middle of August, Fall inventory should already be in store.

You should have already looked at sales in each category and each item within that category.

If any one item has not sold to any extent, there is only one method to sell it now. Take a markdown ASAP.
Use this criteria.
The first markdown should sell it. Don't try to "save" by taking a series of small markdowns. Your first markdown is the cheapest one. If it's not the right merchandise for now, price it to sell.
Anything with badly broken sizes should be included.
Always remember that there many customers who only buy on "Sales Events". You need them as much as your regular customers.

Going into a new season, look at all slow movers as "cash". The sooner you recover that cash, the sooner you will have that money to invest in new merchandise and increase turnover.

If a second markdown is in order, make it one that "will" sell. Don't let sale merchandise "get old". Customers will wait for further reductions. Shoppers are shrewed.

If there are items that are not "bad sellers" that you would just like to move, consider "push money". If you haven't done that, pay your sales people an extra spiff on that merchandise. Maybe an extra dollar or so. Your salespeople will show it and push it for you. This is cheaper than markdowns later.

Answer 3

- buy one, get one free
- buy a shirt, get pants free
- buy pants, get shirt free (or other combinations)
- buy pants, get 70% off on shirt
- a 70% sale
- three to the price of one
- free pair of pants with the purchase of items mounting to XYZ$
- every 50$ purchase will make you eligible for our weekly draw for a combo of pants and shirt & so on...
- every dollar spent is a point where you collect the points for valuable gifts in our catalogue.
- (bundle two shirts together and put a sepcial price for it)
- bundle a pants and a shirt (like a nice outfit) and put a price for it & give a belt as gift...

...your imagination is the limit....