If the idea of long-term storage fees for slow-moving stock isn’t enough to scare you off, then how about motivating yourself by making a little extra cash on those items that are just sitting around? RepricerExpress has nine awesome ways you can liquidate old Amazon inventory — it’s simpler than you realise.
1. Host a Contest or Giveaway
There are few better ways to get rid of old stock than to ramp up excitement over it. You can incentivise shoppers to get free or greatly-reduced merchandise by signing up through email, purchasing another item, or interacting with you on social media. This strategy is excellent to use as a stepping-stone for longer-term sales, as you’ll be sacrificing immediate sales for more users and their future attention and dollars.
2. Highlight the Items as Special Sales
You know how if you walk into a brick-and-mortar store, you can spot there are items for sale by the giant red ‘SALE’ stickers on them? You can do the same online by devoting the old inventory to its own section and clearly marking the items as ‘ON SALE’ or ‘SPECIALLY PRICED’. If you grab a user’s attention with sales the second they hit your page, then you can keep them there with everything else they’re interested in.
3. Add Them onto Other Items as Free Extras
Maybe you just can’t sell some items, no matter how hard you try. Well, why not give them away — by bundling them with paid items? If you’ve got inexpensively-priced items, the consider adding them to orders for free if buyers reach a certain dollar amount, or if they purchase select items.
4. See if Another Seller Will Swap With You
Perhaps the problem isn’t that the item is a slow-mover. Perhaps it’s that you’re not set up to move it as quickly as someone else could. If that’s the case, get messaging other merchants on threads and forums and see if you can’t work out a mutually beneficial deal. If/when that happens, be sure to advertise those items as ‘new stock in’ to increase curiosity and excitement.
5. Sell Them With a Sense of Urgency
FOMO, or the Fear of Missing Out, can cause people to do and buy all sorts of things because they don’t want to be left behind and risk not having what everyone else does. To capitalise on FOMO, create a lightning sale and make a countdown clock for it.
6. Increase the Returns Policy Length
Sometimes the difference between a sale and a slow-mover lies in the little extras, like an ample return policy window. Buyers are looking for as much security in the shopping process as possible to pad their odds of being happy with a purchase. By extending the length of the returns, you just might be able to tip the scales in your favour.
7. Amp Up Points or Rewards
In Canada, there’s a chain of pharmacies called Shoppers Drug Mart that has a reward program called ‘Optimum Points’. For every item a shopper purchases, they receive a set number of points they can redeem towards deals or free items. Occasionally, there are days or sales where the Optimum Points are vastly increased, which causes buyers to pick up things they might not usually think twice about. If you apply the same concept to your old Amazon inventory, you can see the same rewards.
8. Send Them to Bloggers for Review
While you might not see any (immediate) cash return, you can get a lot of word-of-mouth buzz, which could be invaluable in its own right — and have a good chance of leading to higher sales down the road.
9. Put Them in Hard-to-Miss Places
We all get ‘blind’ to things that are in the same place for a while, and it takes a shake-up to make us notice them again. For your buyers, they might not be ‘seeing’ the same items that have always been there if you keep them in the same spot. However, if you change their locations, such as placing them by best-sellers, you can increase their visibility and chances of being sold.
Final Thoughts
If you’re a smart seller, due diligent research, remain open to suggestions and use RepricerExpress, then you’ve got yourself some great odds at getting rid of old Amazon inventory that’s been lying around collecting digital dust. But if you’re not already using us, uh-oh, time to hop on board! The best time to be using RepricerExpress is yesterday; the second-best is today. And when you register now, you start off with the first 15 days entirely free.
