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Retail businesses are often faced with surplus stocks that usually put a lot of strain on the profit margin. Whenever you find yourself in a similar situation, it is good to know that there are proven ways to find potential buyers of surplus stocks and make some cash out of your excess inventory. Getting rid of surplus or excess stocks will provide you with more space for new items as well as increase your cash flow. Selling surplus stocks will allow you to recoup your investment. Make sure that your costing for the lot is enough to cover, at the very least, the cost of goods as well as the operating and logistics expenses incurred in storing and shipping the stocks. If you are not able to sell the entire lot, you can perhaps donate what’s left to charity so you can at least get tax credits from it.
There are several options to take when you are selling clearance wholesale online. One way is through your own website. You can set up your own method of accepting payment or use the services of a third-party payment processor. However, this option is not available for small businesses and those who don’t have a website. Plus, setting up your own payment processor will take time, which is not recommended if selling surplus stocks is not a regular activity for your business.
Another common method of selling surplus stocks online is through auction sites. One advantage in this option is that you can reach a wider market, even outside UK. But before you finally post your merchandise for sale online, you must understand that there are also drawbacks in using auction sites, especially for stock items. You need to take into account that most auction sites charge sellers certain fee for every item you list on the site. Also, you need to consider that auction sites are accessed publicly, so there is always the risk of devaluing your merchandise if by chance that your customers see it for sale at very low prices.
You can also try selling clearance wholesale stocks through online classified ads. Listing your merchandise is often free and there is no need to set up a payment processor because you can choose to accept payment through bank transfer, in cash, or in any way you want as long as it is convenient for you. However, the drawback in this method is that the selling time is often long. It could even take several months before you can finally get rid of the surplus items, which is not recommended if you need to clear out the items for new stocks. Also remember that classified ads carry a lot of listings, so your post could be buried down in piles of ads all fighting to get the attention of the prospective customers.
There are also daily deal websites, which is becoming popular for those who want to sell surplus stocks. These websites are mainly offering alerts to their subscribers for great deals made available on a regular basis. The deals are often run for a limited time only, which is quite attractive to prospective buyer of surplus stocks who make the purchasing decision right on the spot. Hence, this option is a great way to ditch the excess amount of merchandise instantly.
There is a disadvantage, however, in using daily deal websites. The quantity of orders is often very small with every buyer usually purchasing one or two every item. Plus, it will also be your responsibility to process and ship the items. For those in the retail business, the time that it will take to comply with the requirements could result to becoming cost-inefficient. In addition, there’s always the risk for you to be still left with unsold stocks. This can be troublesome after you have offered the items at a very low price and then have to raise the price again so that you can sell it elsewhere.
What then is the best way to sell surplus stocks online? Find a website that is dedicated in buying and selling clearance wholesale items. Because it is the company’s specialization, the process of selling is shortened and you will be paid at a reasonable price. All you need to do is to call the company, coordinate the shipping of the surplus stocks, and wait for the payment. You can even ask to be paid in advance as long as you meet certain requirements.