Get rid of old stock with printed stickers on a roll
Excess stock can take up valuable space and stunt your company’s cash flow. It can be an irritating issue that business owners are often unsure of how to approach. So what can you do to get rid of old stock without writing it off as a complete loss? There are a few options; one of the simplest starts with ordering a batch of printed stickers on a roll, and above all, recognising that you may take a quick loss, but you’ll soon start making profit again once you have made space for your shiny new stock.
Sell old stock at discounted prices
The most obvious way to get rid of old stock is by selling it at a discounted price. Although you may know that the stock is worth more, it’s more important to shift it fast than get hung up on your losses. Order some printed stickers on a roll with the discounted price or a percentage discount so that the items sell quickly and you can spring clean your stockroom. If you run an e-commerce site you can set up a discount section on your website or run an exclusive online discount with a code that people can input at checkout to bag a bargain.
Donate old stock to charity
If you think your stock won’t sell no matter how heavily you discount, the answer may be to give it away to charity. Donating will help you to get rid of stock fast and clear up space, so although you will not be making any profit you will be able to get new stock in to sell and start making up for your losses.
Create bargain bundles
Put any old stock into a bargain bucket and offer the products for a lower price when bought in bulk e.g. 10 items for £10. This will encourage more sales and ensure old stock gets snapped up speedily.
Figure out why you’ve got a surplus of old stock
To avoid this issue reoccurring in the future, review your old stock and figure out how you got into this situation to begin with. You may need to rethink how you buy your stock, or realise that you are misestimating sales numbers. Looking at these factors can be a valuable learning curve, helping you to restructure your buying structure for the future.
If you’d like to order printed stickers on a roll to clear out your old stock, contact us to find out how we can help.