The sale becomes more about the event than it does discounts.” “We also do online flash sales where we mark down poor performing styles (and mix in a few good sellers as loss leaders).The nice thing about these types of sales is that they not only turn the inventory as desired, but they often lead to growth in our customer base and attract new consumers to our business.”Be sure to time and implement your sale events wisely.Bonus resource: Need additional tips and examples on how to refresh, remerchandise, and remarket?We’ve got you covered with this instructional video.
You can also kick this tactic into high gear by creating a sale event.
“Freshen the display, move things around, create new, brightly-colored signage and replace worn out price tags,” she advises.
“Make it look new and fresh for your staff and customers–customers who may not have even seen the items in the previous location.” Fashion retailer Vanessa Cooreman Smith of Flourish Boutique shares that they sometimes “re-market” slow-moving items in their stores.
If remarketing or remerchandising doesn’t work, consider lowering prices for of excess stock.
Kat Rosati, Brand Manager at Apparel Booster, advises retailers to discount prices at certain increments.
Judy recommends hosting a high-impact event with “lots of bells and whistles” to attract customers.