What can I do to increase returns on end-of-line stock?
End-of-line stock can cause problems for a retail operation. Products have to be stored, tracked on a monthly basis and protected. However, there is a range of possible options for getting rid of end-of-line stock, such as online marketplaces.
“In order to ensure that supply chains maintain their value from beginning to end, it’s certainly worthwhile considering online marketplaces,” says Tayyab Akhlaq, managing director at Genie and the Geek, which helps businesses sell on marketplaces.
Websites such as eBay, Amazon and Play.com can be an important part of selling end-of-line stock. “The majority of sellers on eBay are businesses selling to consumers, as opposed to consumers selling to other consumers,” says Tayyab. The sites have become a useful route for some retailers that have stock and don’t know what to do with it.
It’s important to take the time to research the market to discover which marketplace might be best for each category or product. Another advantage of the sites is they can help to dispel negative attitudes to unwanted goods.
Tayyab says: “People using these sites will often have a product in mind before they go shopping. A recent statistic has shown that 90% of sales come from direct search, rather than browsing. In this respect, focus should be placed on showing the products you have in the best light - clear online shop fronts and compelling photography should be optimised.”
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