In the retail business it is not uncommon to be left with surplus stock, which can end up putting a strain on your profit margin. If you find yourself in this situation there is no need to worry – there are several different ways to connect with prospective surplus stock buyers and get cash back from your excess inventory.
One popular way of ridding yourself of surplus stock is to use an online auction site such as eBay. There are some obvious benefits of these websites, the main one being that they allow you to reach a very wide, international audience of potential customers. However, before you decide to use eBay you should also be aware of the potential drawbacks. eBay charge sellers a fee for each item listed on their site so you need to take this into account before you set the price of your product. You should also be aware that eBay is a very public forum and you may run the risk of devaluing your product if your loyal customers see it for sale at a large discount elsewhere.
Daily deal websites are also a popular choice for selling surplus stocks. These dedicated discount companies alert their substantial mailing list to a handful of great deals every day. The offers tend to run for a limited time only, making them very appealing to potential stock buyers who respond to the time pressure involved by making a purchasing decision instantly. As a result, these services are a great way to get rid of substantial amounts of surplus stock very quickly. Be warned however, the orders are usually made in very small quantities with each customer purchasing one or two of each item and it will be your responsibility to process and ship the orders. For many retailers the man hours involved in these deals can make them cost-ineffective. On top of this it is not uncommon for vendors to be left with some stock after the sale has ended. This can be really problematic because having offered the goods at a very low price, it can be tricky to raise it back up and sell the stock elsewhere.
A third option is to enter your goods into an offline auction. These auctions happen on a regular basis and include unclaimed items and seized goods as well as surplus stock. The benefit of these auctions is that they are much more discreet than any online sales. The downside is that customers are generally seasoned bargain hunters who expect substantial discounts.
There are lots of other ways you can sell your excess stock. You can also try closed door sales, discount retailers, overseas buyers, charities, wholesalers and distributors. Each of these excess stock buyers has different objectives and motivations. It’s a good idea to structure your offer so that it meets their requirements.
Finally, if you have considered all of the other options and are still unsure about what to do with your surplus stock you should consider contacting a dedicated stock buyer such as Coorey & Co. Dedicated stock buyers have substantial experience in dealing with excess inventory and will have a fantastic book of contacts and potential customers for your goods. They are very discreet and will do all of the leg work in terms of researching the market and negotiating the best price in your behalf.