“Get rid of dead stock” game

By Tony Lam

  • SumoMe

Are you being annoyed by the dead stock in your garage or warehouse? Dead stock is the inventory that cannot be sold. They may be the purchase because of mistake in merchandizing, sub-quality or blemish items.  Instead of a headache, dead stock is fun. Am I kidding?  Nope !!  it would be really amusing just to switch your mind and consider it as a game to challenge yourself. Set one or two simple game rules.  Test out your ideas and twist them if not work out as you wish. Be creative in your strategies and make a win-win situation to please yourself and please your buyers. Here is an example of “get rid of dead stock” game rules:

  1. No loss in terms of material cost of dead stock.
  2. Buyers are happy for the transaction.

I tested several strategies and some work pretty good for me.  If you have other creative ways want to share, l love to hear.

dead stock game

1)      Surprise Gift

No price slashing is required for the dead stock item.  Give away the dead stock item as a surprise gift together with a hot item with profit margin that can cover the dead stock item.  The surprise gift comes with a greeting message to the buyer.  Because the buyers are very happy with the extra gift (high perceived value) that they never think of, I received a lot of exciting feedbacks.  Yeah !! I got a Win-Win.

 

2)      Optional FREE blemish item for buyer’s discretion

I have some rejected violin bows found during my shipment inspection. They may not all be bad from customers’ point of view. If I ship them, I have a risk of receiving negative feedbacks. Therefore, they are left in my garage as dead stock.  Thanks to God who gave me an idea of offering it as an optional item for the buyers (for free) to decide if they want to get a rejected bow as a backup bow.  Below is the message I put at the listing. The feedbacks from the buyers are very positive.  Around 50% requested an extra backup bow from me.

“I have limited number of blemish violin bow  (round stick) want to giveaway. If you want to receive one extra rejected bow (round stick) , please state “I want a free giveaway rejected bow” in your payment note. I will then include one extra rejected bow to you. As I said, it is a blemish bow and if you don’t like it after receive it, you can dump it and don’t complain to me. It is out of my pocket and does not cost anything to you.”  

 

3)      Bundle it as a bonus to make a super deal

Without cutting the price of the dead stock item, I offer the item as a bonus with multiple hot products to make a super deal that on one dare to offer. To outstand other listings, I created a brand new mix-and-match that nobody is offering. In the eyes of buyers, it is a unique irresistible super deal.  To me, it accelerates the sales of hot products without a loss.  Hooray !!! Win-Win again !!!

Example of Super Deal bundle :

“Two Sets of 6-Stringed Acoustic Guitar Strings ~ Bonus One String Winder”

 

More readings….

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Thoughts On Dead Stock Management

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Category: Online Business


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