Comments on: Buying When You Already Have Too Much Inventory http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/ News, Education & Support For Boutique Businesses Wed, 16 May 2012 03:29:47 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Dan Jablons http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/#comment-10413 Dan Jablons Tue, 10 Aug 2010 01:21:30 +0000 http://retailminded.com/?p=2901#comment-10413 The main thing is to get a true open to buy program in place, so that this doesn't become an ongoing issue. Solving the issue of buying when you already have too much inventory is like saying, "I'm bleeding, I need a transfusion" before you stop the bleeding! We do a free analysis for retailers who need help in this area. Best, Dan Jablons Retail Smart Guys www.retailsmartguys.com Cell: 818-720-2585 Fax: 818-897-7223 The main thing is to get a true open to buy program in place, so that this doesn’t become an ongoing issue. Solving the issue of buying when you already have too much inventory is like saying, “I’m bleeding, I need a transfusion” before you stop the bleeding!

We do a free analysis for retailers who need help in this area.

Best,

Dan Jablons
Retail Smart Guys
http://www.retailsmartguys.com
Cell: 818-720-2585
Fax: 818-897-7223

]]> By: Nicole Reyhle http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/#comment-32 Nicole Reyhle Wed, 11 Feb 2009 18:58:14 +0000 http://retailminded.com/?p=2901#comment-32 Amanda, I am glad you agree with consignment selling being a beneficial tool for retailers and wholesalers BOTH. I definitely think wholesalers need to be strategic about where they place their product and how many retailers they choose to do consignment selling with, but it should definitely be part of their sales strategy if they have too much inventory in stock or want to get a name for themselves in the market place - particularly in this economy! Thanks for commenting! Amanda, I am glad you agree with consignment selling being a beneficial tool for retailers and wholesalers BOTH. I definitely think wholesalers need to be strategic about where they place their product and how many retailers they choose to do consignment selling with, but it should definitely be part of their sales strategy if they have too much inventory in stock or want to get a name for themselves in the market place – particularly in this economy! Thanks for commenting!

]]> By: Amanda http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/#comment-29 Amanda Wed, 11 Feb 2009 17:31:29 +0000 http://retailminded.com/?p=2901#comment-29 Nicole, your advice to Sarah is excellent. I'm a small business owner and I'm really feeling the crunch of buying merchandise outright. I'd like to see more designers willing to sell their product on a consignment basis, but the reality is that they're leary to do so. Nicole, your advice to Sarah is excellent. I’m a small business owner and I’m really feeling the crunch of buying merchandise outright. I’d like to see more designers willing to sell their product on a consignment basis, but the reality is that they’re leary to do so.

]]> By: Nicole Reyhle http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/#comment-25 Nicole Reyhle Wed, 11 Feb 2009 03:41:07 +0000 http://retailminded.com/?p=2901#comment-25 Sarah, I would suggest consignment selling. If your inventory is just sitting in stock without doing anything for your business, consider positioning it in select retailers that will at least provide a new outlet for consumers to view and hopefully purchase your product. In this economy, independent retailers are less likely to buy new lines BUT they are more likely to consider consignment selling for products they like. It's not ideal for you as a wholesaler but it does help. You can also create a contract with retailers that after so many items sold, they will then re-evaluate purchasing your product up front versus through consignment. I hope this helps! Sarah, I would suggest consignment selling. If your inventory is just sitting in stock without doing anything for your business, consider positioning it in select retailers that will at least provide a new outlet for consumers to view and hopefully purchase your product.

In this economy, independent retailers are less likely to buy new lines BUT they are more likely to consider consignment selling for products they like. It’s not ideal for you as a wholesaler but it does help. You can also create a contract with retailers that after so many items sold, they will then re-evaluate purchasing your product up front versus through consignment.

I hope this helps!

]]> By: Sarah of Chic Gems http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/#comment-24 Sarah of Chic Gems Wed, 11 Feb 2009 03:24:55 +0000 http://retailminded.com/?p=2901#comment-24 I have overstock on certain products. What is the best way to clear out without being the "sale queen"? I don't want to compromise the brand and become "Wallmart" I have overstock on certain products. What is the best way to clear out without being the “sale queen”?
I don’t want to compromise the brand and become “Wallmart”

]]> By: Christopher Marshall http://retailminded.com/blog/buying-when-you-already-have-too-much-inventory/#comment-21 Christopher Marshall Tue, 10 Feb 2009 18:26:54 +0000 http://retailminded.com/?p=2901#comment-21 I know I will lose money by marking some inventory down, but I won't make any money at all if it never sells at regular price. I need this push though. I am struggling here to keep me store open. I know I will lose money by marking some inventory down, but I won’t make any money at all if it never sells at regular price. I need this push though. I am struggling here to keep me store open.

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