{"id":196343,"date":"2019-09-06T08:52:09","date_gmt":"2019-09-06T08:52:09","guid":{"rendered":"https:\/\/webkul.com\/blog\/?p=196343"},"modified":"2019-12-16T06:41:43","modified_gmt":"2019-12-16T06:41:43","slug":"how-to-deal-with-dead-stock","status":"publish","type":"post","link":"https:\/\/webkul.com\/blog\/how-to-deal-with-dead-stock\/","title":{"rendered":"How to Deal with Dead Stock?"},"content":{"rendered":"\n

Inventory that doesn’t sell is known as Dead Stock<\/strong>. A business dealing with different categories of products can say that a few items just go with no sell<\/strong> while some become the top-selling ones.<\/p>\n\n\n\n

Businesses that don’t use an Inventory Management System<\/a><\/strong> often end up having useless dead inventory stocking in their warehouses. Dead Stock costs businesses a lot of money. Moreover, it takes valuable space which could have been to store high-selling products.<\/p>\n\n\n\n

Reasons for Deadstock<\/h2>\n\n\n\n

Defective Products<\/h2>\n\n\n\n

Broken or malfunctioned products might end up being in the warehouse & turn to be the dead stock. This happens when your business lacks in the quality check process.<\/p>\n\n\n\n

Low or No Demand<\/h2>\n\n\n\n

Just because market trends change like the weather, it is possible that you stock up a product that was in demand yesterday but is not selling today. When the product’s demand is not figured out correctly, you’ll end up bulking it. Thus, resulting in deadstock.<\/p>\n\n\n\n

Bad Communication with the Suppliers<\/h2>\n\n\n\n

Miscommunication between the warehouse and supplier management team can result in great loss. So, not analyzing the need for the stocks coming in & not conveying the same to your suppliers can be the reason. If not needed stop the production or the supply!<\/p>\n\n\n\n

\n

HOW TO DEAL WITH
DEADSTOCK?<\/p>\n<\/div><\/div>\n\n\n\n

\n
\n

\u2696\ufe0f Product Analysis<\/h2>\n\n\n\n

As a merchant, you should analyze which products are doing well and which are not before restocking or manufacturing them. Take into consideration each product and look for the reviews it is getting, the number of purchases it is having, etc.<\/p>\n\n\n\n

Don’t stock up newly launched products in advance. Get a few quantities in hand, let it go out in the audience, if it works well, good (stock more). If not, good enough because you don’t have a large pile of it stored in your warehouse.<\/p>\n<\/div>\n\n\n\n

\n

\ud83d\uddc3 Bundle Up Products<\/h2>\n\n\n\n

Make a combination<\/a> of deadstock products with related products to tempt your customers and get rid of the deadstock. After all, why not sell two or more products together instead of selling a single one.<\/p>\n\n\n\n

Many eCommerce store owners nurture this practice to increase their order value and help deal with your store\u2019s slow-moving & non-selling products. Moreover, the buyers would not mind buying the combo product for a slightly inflated price.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

\ud83c\udf81 Send Free Gifts<\/h2>\n\n\n\n

You can add deadstock products to your customer’s cart as a free gift<\/a>. <\/p>\n\n\n\n

This is an old marketing strategy but works to date cause who doesn\u2019t love free things. Giving such deals help you create good-will with your customers, make them wanna visit again & get ride of the deadstock.<\/p>\n<\/div>\n\n\n\n

\n

\ud83d\udecd Host a Clearance Sale<\/h2>\n\n\n\n

One way out is to host a clearance sale. Put your deadstock on a discount<\/a> of 60%-70%. What more you can do is set a limited time offer for this sale. You can also set free shipping facilities to entice your customers more. Don’t forget to mention that no return or exchange will be applicable to these products.<\/p>\n<\/div>\n<\/div>\n\n\n\n

<\/div>\n\n\n\n

Thus, using a good inventory management system can help you stay alert & points mentioned above will help you deal with the present deadstock.<\/p>\n\n\n\n

Don\u2019t Have An Online Store?<\/h2>\n\n\n\n

To start your online business, go for the Shopify\u2019s 14-days free trial period and put your imagination into reality.<\/p>\n\n\n\n

Create an Online Store for free!<\/a><\/p>\n\n\n\n

\ud83d\udca1 Need Help?<\/h2>\n\n\n\n

You can drop your query at shopify@webkul.com or raise a ticket at Webkul UV Desk<\/a>.<\/p>\n\n\n\n

Until next time. \ud83d\udc4b<\/p>\n\n\n\n

\n","protected":false},"excerpt":{"rendered":"

Inventory that doesn’t sell is known as Dead Stock. A business dealing with different categories of products can say that a few items just go with no sell while some become the top-selling ones. Businesses that don’t use an Inventory Management System often end up having useless dead inventory stocking in their warehouses. Dead Stock […]<\/a><\/p>\n","protected":false},"author":241,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2032,2047,841],"tags":[9796,9792,9793,9797,6326,1413,837,1112,9794,9791],"class_list":["post-196343","post","type-post","status-publish","format-standard","hentry","category-e-commerce-2","category-ecommerce-tips","category-shopify","tag-best-inventory-management-software","tag-dead-stock","tag-e-commerce-inventory-management","tag-getting-rid-of-dead-stock","tag-inventory","tag-inventory-management","tag-shopify","tag-stock","tag-stock-management-software","tag-top-inventory-management-software"],"yoast_head":"\nHow to Deal with Dead Stock? - Inventory Management - Webkul Blog<\/title>\n<meta name=\"description\" content=\"Inventory that doesn't sell is known as Dead Stock. 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