When Is It Time to Cut Your Losses on Holiday Inventory?

When Is It Time to Cut Your Losses on Holiday Inventory?

Usually after holidays, those shelves in the back of your store aren’t getting any emptier. They’re full of gift items that only sell well in the last quarter of the year, holiday decorations, and stocking stuffers. And they’re taking up too much room. So what do you do now?

Ask yourself these three questions:

Can you sell them eventually?

Halfway into the first quarter of the year, it can feel like business is sluggish. But if you’re making slow but steady headway through excess inventory from December, keep going. The best way to turn a profit on your purchased goods is to sell them individually at your store.

If you need the bulk of them out of the way for now, though, store them in a storage space that has customizable sizes and contract term limits.

Is there a market for selling them online?
Sometimes, you just need them gone. There are plenty of eBay and Amazon resellers willing to buy things in bulk. You won’t get as much profit this way, but you’ll save on space and time. If the goods just aren’t budging from the shelves, pack them away into a storage unit and check out the online bidding.

Does donating them help your business?
But, in the end, some seasons goods just won’t sell. They don’t make sense once the holidays are over, but the trend won’t last until the next holiday season. So consider wholly donating them. You can write off the loss in your company’s taxes. Also, with the right planning, you can turn it into a marketing blitz or good press for your business.

If you need a bit of extra storage space to keep your store organized, don’t try to make do. Go to The Box and browse our customizable self storage options.

Facebook
Google+
Twitter
PINTEREST
LINKEDIN