Stagnant inventory is one of the major challenge faced by most of the businesses due to many reasons such as low demand, high competition, heavy cost, damage, returns, and much more. The ROI of the company can be affected by the stagnant inventory. In most of the bigger companies, there are permanent staff who handle stagnant inventory and study on how to move them into the market. Here I have taken a small initiative by discussing about some of the ways by which the inventory can be moved into the market.
1. Group buying sites
One of the notable solution for moving the inventory is by approaching the famous Group buying sites. Group buying is the concept where people can buy products at huge discounts when more number of people are ready to buy the same product at the determined low price than in the market. The company can post the products for group buying in major group buying ecommerce sites such as Groupon, Amazon, Living social, eBay etc. Sales can be improved by offering discount offers while moving bulk inventory using group buying sites.
2. Host own group buying site
There are many group buying scripts including groupon clone sites available in the market. The company can buy the scripts and run them to build a robust site to handle the inventory. The group buying site can also be integrated with the existing ecommerce site which helps to maintain the enterprise identity.
3. Coupon posting on sites
The company can generate offer coupons for the products or service and can display them in various coupon sites like Coupon.com, RetailMeNot, ShopAtHome, DealsPlus, Gilt, SmartSource.com etc. The customer can select the coupon and print them to avail the discount offer at the shop.
Conducting auction on the site is one of the best possible alternative to move the inventory. Bulk sale is possible via auction which allows the user to buy products at lower price than in the market while moving the stagnant inventory quickly and easily. There are plenty of auction websites like eBay, eBid, ePier, Quibids, AuctionFire etc., where you can register to sell the products. The organization can also build their own auction site using the scripts available in the market by integrating the auction site with the existing ecommerce site.