Do you have thousands of dollars worth of product taking up valuable retail space in your establishment? Have you ever looked at your warehouse to see slow movers collecting dust on your inventory shelves? Excess inventory reduces stocking efficiency, contributes to store clutter, and represents unrealized potential. There are a number of ways to take advantage of slow movers, but Amazon Marketplace may be one of the best. If you can’t sell to your customers, Amazon can expand your reach. Here’s how to start.
Chances are good that someone else is already selling your slow-moving merchandise on Amazon. Do some research to see how much that merchandise is selling for on the open Marketplace. This will tell you where to price your item. This isn’t an opportunity to maximize returns. Think of this as a chance to unload unwanted and burdensome inventory, and price your slow movers accordingly. Even if you have to sell your overstock at cost, it’s better than leaving it on the shelf for another six months. A tool like Amazon Repricer can help you find the sweet spot.
If you’re discounting your slow movers on Amazon, the 99-cent transaction fee may be too steep. You can’t afford to have Amazon dig into your limited profits. The answer may lie in buying a Pro Merchant subscription. Instead of paying individual transaction fees, you can pay Amazon a flat rate each month. Sell in enough bulk, and you can cut your per-item transaction costs to a fraction of what they would have otherwise been. Other benefits of a Pro account include: bulk uploading, better transaction reporting, more selling options, and the ability to create unique listings.
Use Amazon for Advertising
Some retailers shy away from using Amazon because they can’t make a profit. First, how much profit are you going to make from professional liquidators? How much will you make if the products sit in your warehouse for another year? Even if you aren’t making much from selling at discounted prices on Amazon, it opens the door to a world of new customers. What can you do to make an Amazon customer your customer? The only limit is your imagination. Put a post card in each shipment with your Web address and business name. Offer coupons and discounts to attract Amazon customers over to your online store. The more value you give to each customer, the more likely it is you will see them again.