How to Get Rid of Old Inventory

Get rid of old inventory for improved cash flow

How to get rid of old inventory? This was a question that came through in our retail community, and it is a great one that highlights a situation many store owners find themselves in:

How do I get rid of old inventory with enough profit to purchase new inventory and keep my customers coming back for new, beautiful merchandise?

SO many store owners are over inventoried or stuck with old, stale inventory and it’s a real catch 22:

You need cash to buy new inventory that your customers actually want, but the inventory you have isn’t selling so the cash doesn’t come

It can be super overwhelming to be staring at a lot of old merchandise. But if you’re over-inventoried it’s hurting your profit and you have the power to change it.

So I have some good news, then some bad news, then some more good news…

The Good News and Bad News About Getting Rid of Old Inventory

The good news is that there IS a solution… And the solution is doing a clearance sale. The BAD news is that if you do a clearance sale the wrong way, it will actually put you in a worse place than you are right now.

Not only can you cut into your profit margins, but if done wrong you can cause sales to stall – sometimes for weeks after your sale. 

BUT the next good news is that the clearance sale process we teach our clients is designed to avoid all those pitfalls by targeting the right customers during your sale, and by taking the right markdowns on the right inventory. 

It shifts your approach from a promotion/store wide type sale, to using a true clearance sale as an inventory management strategy!

It shifts the panicked “I have to have a sale because I need cash NOW” perspective, to “I’m strategically planning this sale to keep my inventory fresh and my customers excited”.

I believe that EVERY store owner needs to know how to do a clearance sale the right way – but it’s especially crucial when you’re in a situation like the original poster – where you have inventory that’s more than a year old.

Get Rid of Old Inventory – The Right Way

Right now you have two ways to use our Clearance Sale Secrets guide:

#1 You can join us inside our group coaching program, which includes the Clearance Sale Secrets – with a bonus class by me, AND 12 months of live support AND access to our Sales Breakthrough System to fix all the areas holding you back in your store. Click here to access this option OR…

#2 You can buy JUST the Clearance Sale Guide digital download. You’ll get clear action steps to how to run the sale, but you’ll be doing it on your own, focusing only on your sale. Click here to access this option.

The first option is only $400 more – AND it gets you so much more – including a full year of monthly group coaching calls and on demand classes to improve your paycheck, your inventory, your team and your marketing!

But you know best what will work the best for you right now, either way you will get the exact strategy to use to start moving out that old inventory and free up cash for new, beautiful inventory.