Being a seller on Amazon FBA, you’re aware that outdated stock not only increases storage costs but also lowers IPI rating, diminishes available storage space, and consumes your valuable time.
Regrettably, a multitude of vendors confront the dilemma of either liquidating or discarding some part of their stockpile during the final stages of inventory management. Lacking a clear comprehension of the timing and methodology for this task, the majority rely solely on Amazon’s liquidation and disposal alternatives. For those who recognize that these options do not completely cater to their needs or suit their business model, we have put together a useful handbook below, categorized based on the state and whereabouts of their inventory.
Several Methods to Clear Out Your Amazon Stock
1. Cut Prices or Propose Reductions
Nothing drives business momentum like a good sale.
If you’re comfortable reducing prices, you might consider a significant discount to attract a crowd. This could help you manage surplus stock or less popular items.
2. Try Increasing Your PPC Budgets to Boost Sales Volume
FBA vendors often struggle with PPC when trying to attract a steady flow of visitors to their listings.
By implementing the correct amount of PPC, you could potentially increase your sales, helping you clear your inventory faster.
Remember, your goal should also include procuring more product reviews. This not only helps you climb the Amazon rankings but also builds customer trust. A surge in reviews could prevent future stock issues as these testimonials can effectively sell your products for you.
3. Work with Influencers to Evaluate the Item
Harness the potency of social media and influencers to alleviate your inventory challenges.
Influencer marketing is rapidly becoming a leading marketing tactic. Influencers earn their income via sponsored items and utilize their followers for product promotion. You can expand beyond mere social media to discover bloggers, YouTubers, and podcasters within your field with whom you could supply the product.
It’s hitting two targets with one arrow. By way of influencers, you can efficiently distribute your product while simultaneously boosting your brand’s visibility.
4. Offer Bundles
Bundles are a smart method to promote additional purchases from customers while simultaneously clearing out excess stock. Combining slow-moving inventory with a best-selling item can efficiently liquidate your stock without your customers realizing it.
5. Host a Giveaway
People are always thrilled to receive complimentary items. Product launches often employ giveaways as a marketing strategy, but these can also be effective for clearing out inventory.
The beauty of giveaways is that you can easily part with the product without any sentimental attachment, and conducting appealing giveaways to clear your inventory brings you joy. Your customers delight in this as they perceive it as receiving a gratis present, compelling them to stay loyal and continue their patronage of your business.
6. Utilize a Liquidator or Amazon Liquidation
A liquidator functions as a unique type of merchant, purchasing goods to distribute across their chain of shops. They often cater to retailers specializing in discounted branded items and a variety of products.
Their entire operation relies on providing inventory solutions for business owners, making them a reliable choice when faced with liquidation.
Alternatively, you can retain your liquidator within Amazon’s framework. Observing the common challenge many FBA sellers faced in needing liquidation solutions for their Amazon FBA inventory, Amazon astutely introduced their liquidation program. A proficient FBA liquidations service provides the necessary expertise and know-how to ensure your liquidation process is as smooth as possible.
6.1. Factors to Take Into Account Before Clearing Your Amazon Stock
Just because your merchandise isn’t moving doesn’t imply it’s unsellable. Examine the situation; is there room for enhancing your product listing? Can the effectiveness of your PPC campaigns be increased? Consider competitors who have strong reviews and a high Best Sellers Rank (BSR)—what strategies are they employing that you haven’t or can’t? How might you emulate their success? There are usually methods to revive stagnant inventory, but this requires a degree of inventiveness and resilience to not surrender at the initial indication of a downturn.
Conclusion
Although the process of product liquidation may initially appear daunting, there exists a myriad of avenues to dispose of excess stock, thereby circumventing substantial warehousing costs. If you’re still unsure of the best strategy to address excess inventory, reach out to our team of experts.
If you’re struggling with excess Amazon FBA inventory or looking to minimize storage costs, the BellaVix Team is here to assist. We provide customized strategies to optimize your inventory and boost sales. Contact us today to enhance your Amazon business efficiency.
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