In this issue we’ve supplied you with some great closeout and liquidation companies to stock your booth with all the spring necessities, so now it’s time to get rid of old merchandise that’s taking up space. I think we all know the best way to make room for new products… sales! The best part is customers are always attracted to sale signs, and the Merchandiser Group is here to help get those juices flowing and get ideas put to action.
Use Color-Coded Signage for Sale Items
Instead of having the generic ‘20% Off’ sale, you can spice things up at your booth by color-coding the items you want to get rid of. By creating a sign with the prices next to each color sticker, you can keep it easy for yourself and only have to add the colored stickers to each product tag. People who hold garage sales find this method helpful so they don’t have to think of a specific price for each item.
Group Items in Bundles
You can either do a BOGO (buy one / get one) or if you have a specific pair of gloves that go well with another hat you sell, bundle them together and post as ‘Two for the Price of One,’ or something similar to really make customers feel like they’re getting away with a steal. You can either use colorful clothespins to hold the items together, or you can put them on a hanger, depending on how big the items are.
Surprise Gift Bags for a Set Price
Another thing customers love is a surprise. Bag a couple of small items together in a non-see-through bag, such as a brown paper bag or even something with a design on it if you want to get fancy, and label the bag with a specific price. Customers will get excited at the deal and want to know what’s inside the surprise bag. Items that can be included in the bag are headphones, sunglasses, gloves, socks, or jewelry. Basically anything small enough to fit in a small to medium sized bag that can give customers the element of surprise. Bonus: you’re getting rid of old inventory.
Include Coupons for Future Purchases
If you’ve had some items on sale for a while and they’re not going anywhere, try including a coupon with a sale purchase for a certain percentage off of the customer’s total the next time they buy from you. This will not only help to get rid of old merchandise, but also encourage customers to come back if they know they have a coupon to use. Also make sure to specify on the coupon that the discount will only be applied to full-priced merchandise.
Even though most customers try haggling at flea markets anyway, it’s still helpful to put up a sign that says ‘Bargainers Welcome.’ Make customers feel special by offering them a lower price if you see them looking at some items you’re trying to get rid of. This not only helps encourage impulse buys, but it also opens an opportunity for you to create a memorable customer experience. Try striking up a conversation after bargaining and create a new loyal customer.