As a business, you run into problems with inventory all the time. Sometimes you have a surplus of inventory, or you receive reject or damaged materials. When you run into problems like this you begin to ask yourself “where to sell overstock inventory?”.
1. Sell Excess Inventory Online
You have the ability to utilize online marketplaces to sell your excess inventory. Getting into the e-commerce space is a great way to start to scale your business and make your business more profitable.
Leveraging an online marketplace can be a great way for you to not only get rid of excess inventory but to also make new customers.
Online marketplaces already have built in traffic sources. When using them in the right way you will be able to leverage these marketplaces and build a income source out of your overstocked products or reject materials.
The Best Online Marketplaces
- Amazon
- Ebay
- Craigslist
- LetGo
- Facebook Marketplace
- Poshmark
Cons of Online Marketplaces
Each marketplaces has its own set restrictions and fees. Is is also hard to scale. You may also be doing your own customer service. Each one has its built in traffic source and if that customer base isn’t interested in what you are selling you may have trouble making sales.
If you choose a local marketplace it takes time to meetup with someone and to communicate with the customer a time and place. Not all customers will be reliable and some may even think they are interested and change their mind at the last second.
2. Sell To An Inventory Liquidator
Inventory liquidator’s will purchase your overstocked inventory at a discounted price and sell it to their own their network.
This can be a great way to get rid of your excess products, reject materials, damaged materials, waste in a very simple and effective way. When you take this route you will be able to sell in bulk and make a large chunk of you money back and get these products off of your hands fast.
This is one of the fastest and most effective ways to figuring out where to sell overstock inventory.
Just Make It Go Away can serve as your inventory Liquidator.
3. Partner With an Inventory Liquidator
Partnering with an inventory liquidator can be the most beneficial thing you can do to get the most use and profit out of your overstock inventory.
When you partner with an inventory liquidator you will be able to create a strong relationship with each other and be able to create the best deal possible.
Just Make It Go Away is the top inventory liquidator in the world! We are able to easily take your excess inventory off of your hands and put it to good use!
Sell your damaged, reject and excess products to us and start a partnership with a trustworthy company.
4. Product Bundling
One tactic you can use to try and get rid of your overstocked product is product bundling. Take the product that you are overstocked on and bundle it together with a product that is selling well.
This is a tactic many companies use to help market a slow moving product and get it into the hands of more customers.
5. Promotions
Running or starting a new promotion where you showcase your a new product or your overstocked product can be a great way to improve sales store wide.
Create a new and exciting way to attract new customers and you will be rewarded with more sales. The challenge with this is again you are having to handle the direct to consumer customer service issues and small quantities.
6. Offer Bulk Discounts
There are a few ways you can go about this from a business perspective. For example you can offer 10% off on your order with purchases over $50 or you can offer free shipping on purchases over $50.
The point is, you trying to give people incentive to purchase more items from your store at one time. Increasing your profits and also helping you sell more of your overstocked products.
7. Donate Excess Inventory
If you are running out of options you may start to look into donating your excess inventory. If you have friends, family or a nearby shelter that could use your overstocked or damaged goods this may be a good idea.
Especially if it is a small amount of inventory and you are not expecting this to happen again. You will be able to do something good for your community without losing much profit.
If its not worth it to you to put in the work and set up an online marketplace or sell to an inventory liquidator it may be a good plan to donate excess inventory and just move on.
8. Dispose Of Excess Inventory
Disposing of your products is one of the worst options you could choose. Not only would you be getting rid of your products and not making any money, you often have to pay for the disposal.
Disposing of your products is also not environmentally friendly.
For example Amazon FBA will return your inventory or destroy it for you for a cost. Disposing of excess inventory is a lose-lose for everyone and should only be considered if you have exhausted all your options.
The Best Way To Sell Excess Inventory
The best way to get rid of your excess inventory is to do it in way where its:
- Fast
- Easy
- Profitable
- Environment Friendly
The only option that checks all the boxes for figuring out where to sell overstock inventory is partnering with us! At Just Make It Go Away we are the leading recycler of textile waste, building materials, automotive textiles, and more. We will buy your unwanted materials and take them off of your hands!
Just Make It Go Away is proud to be an environmental friendly business as we promote reducing waste and making the most out of what we already have!