How To Get Rid Of Unwanted Inventory When Changing Packaging.

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Making a change to your product's retail packaging can be a great way to improve its appeal to consumers and boost sales. However, it can also lead to a buildup of closeouts, excess inventory, and obsolete products. If you're not careful, this can tie up cash and valuable warehouse space. When old packaging is no longer selling you end up with too much inventory sitting in the warehouse collecting dust.

Here are a few tips on how to get rid of closeouts, excess inventory, and obsolete products when making a change to your product's retail packaging:

  1. Plan ahead. The best way to avoid getting stuck with excess inventory is to plan aheadWhen you're making a change to your product's packaging, take some time to estimate how much of your existing inventory you'll need to sell off. This will help you to determine how much of your new packaging you need to order. If you have too much old inventory leftover, you may find yourself selling to inventory liquidators for a lower price than anticipated. Liquidation companies and closeout buyers sell into the secondary discount market, and you may not get as much for your unwanted inventory as you thought you would
  2. Offer discounts and promotions. One of the best ways to sell off closeout products, excess inventory and overstock product is to offer discounts and promotions. You can do this through closeout websites, through retail partners, or even through social media. Be sure to promote your discounts and promotions heavily so that you can reach a wide audience.
  3. Liquidate your excess inventory to closeout inventory buyers. If you're unable to sell off your excess inventory through discounts and promotions, you may need to liquidate it. Inventory liquidators are companies that specialize in buying and selling excess inventory. They typically pay less than market value for inventory, but they can offer you a quick and easy way to get rid of it. If you are looking for a reliable closeout partner, try a Google search using these terms: closeouts, selling obsolete inventory, getting rid of unwanted inventory, buyers for overstock products, inventory liquidators, sell excess inventory, closing down warehouse need to liquidate, need room for new products arriving, keen to liquidate inventory.
  4. Donate your closeouts and excess inventory. If you're not able to sell off or liquidate your excess inventory, you may want to consider donating it to charity. This is a great way to give back to the community and to avoid having to pay to dispose of the inventory. Sometimes, you just have too much inventory in the warehouse that isn’t selling, and you need to make room for new products. Closeout buyers and overstock liquidation buyers may not immediately take everything you have, so you may need other alternatives. Closeout companies may want to buy closeout pet products and overstock toys, but if you have an excess inventory of lawn and garden products you may have to find other companies that liquidate inventory.
  5. Repackage your products. If you're making a minor change to your product's packaging, such as updating the logo or design, you may be able to repackage your existing inventory. This can be a more cost-effective option than liquidating or donating your excess inventory. If you make a major change to the packaging, it can make the old inventory obsolete and you will might have to liquidate the entire inventory in one fell swoop to a liquidation company. Companies that buy closeouts, or closeout brokers, may be your best bet for getting rid of the entire inventory at one time. If you are downsizing business or looking for a way to sell unwanted inventory quickly, think about talking to excess inventory buyers.
  6. Sell your products in bulk. Another option for getting rid of closeouts, excess inventory, and obsolete products is to sell them in bulk. This can be a good option if you're having trouble selling your closeout products individually. You can sell your products in bulk to wholesalers, retailers, or even other businesses. Liquidating excess inventory is common practice among wholesale and import companies. There are even closeout websites promoting inventory liquidation buyers for pet products, toys, sporting goods and closeout lawn and garden products.
  7. Use your excess inventory and unwanted merchandise for sale as marketing and promotional tools. You can also use your excess inventory for marketing and promotions. For example, you could give away free samples of your products at trade shows or events. Or, you could offer discounts to customers who purchase a certain quantity of your products.
  8. Bundle your closeout products with other products. Another way to get rid of excess inventory is to bundle your obsolete products with other products. For example, if you sell shampoo, you could bundle it with conditioner and styling products that stopped selling. This can make your closeouts more appealing to consumers and encourage them to buy more.
  9. Sell your products online. If you're struggling to sell your closeout inventory through traditional retail channels, you can try selling them online. There are a number of different online marketplaces where you can sell your products, such as Amazon, eBay, and Etsy. Closeout websites have become popular since Covid, and offer a way to get rid of unwanted inventory and sell obsolete products to wholesale liquidation buyers.
  10. Target your marketing efforts. When you're trying to sell off closeouts and excess inventory, it's important to target your marketing efforts. For example, if you're selling closeouts of summer clothing, you could target your marketing efforts to people who are interested in fashion and shopping for deals. If you have excess inventory of home goods, closeout housewares or overstock inventory of home accents, target shopping networks.

By following these tips, you can get rid of closeouts, excess inventory, and obsolete products when making a change to your product's retail packaging. This will help you to avoid tying up cash and valuable warehouse space.

Merchandise USA is an inventory liquidator in business almost 40 years. We can help if you are downsizing warehouses, shutting down operations completely, or just need to make room in the warehouse for new products. We feel it is best to get rid of unwanted inventory before you are forced to. If you wait until you absolutely need to liquidate inventory it becomes more stressful than it has to be. Whether you have closeout toys, closeout sporting goods, overstock of home goods and housewares or excess inventory of pet products, we can help make the liquidation process easy and stress free. Whatever the reason is for liquidating excess inventory, we are closeout buyers for all consumer categories.