Five ways to clear dead stock on Amazon
Why can’t it sell? Why didn’t the expected customer demand have a good response in the actual sale? There are many factors that influence Amazon Inventory Management, and there is no way to predict it with complete accuracy. Demand for a product can change overnight, and a product you thought would get you rich quick could instantly become the source of your debt. The slow-moving inventory situation described above is when you have excess inventory for a given product in Amazon Inventory Management. Therefore, maintaining a reasonable amount of inventory is also crucial.
Here are five ways to clear dead stock on Amazon:
1. Reduce the price of slow-moving inventory
Lowering the price of slow-moving inventory is the most common and easiest way to clear it. You can gradually lower the price every day. Or sell at a price down to a level that is irresistible but still protects your profits in one fell swoop. The most typical way to implement these is to offer a discount percentage, or to set up a package deal discount, if a customer buys a few pieces, they can get a big discount.
2. Increase ad spend
If the price cut still doesn’t hit the target, then it’s worth trying to increase your ad spend. After all, clearing inventory also requires a lot of customers to see the long-form you’re clearing, so more ad spend is a must. Make sure to align your traffic with the promotion, or even offer a guaranteed conversion rate with a discounted price, and the cleanup will go a lot faster. But you need to pay attention to the cost calculation here, otherwise you will find that you have not recovered any funds but spent a lot of money after clearing the goods.
3. Create bundled giveaways
A creative way to clear excess Amazon inventory is to create bundle giveaways that pair the best-selling products in your product line with your slow-moving products. People are going to buy popular products anyway, and when the bundled price makes your slow-selling product look like a freebie, the cleanup is much faster. The most important thing to remember is to do demand-complementary pairings for your bundles, making sure that your best-selling products complement your slow-selling products, or at least naturally pair with them. You don’t want to leave potential customers scratching their heads about the odd combination of products in the bundle.
4. Multi-channel distribution of slow-moving inventory
When trying multiple methods on Amazon and it still doesn’t work, try multi-channel distribution. eBay and Etsy, for example, or low-price-sensitive platforms like Wish, are great for clearing out slow-moving inventory. On these platforms, your product-market fit may be better. And maybe when you try to clear inventory on these platforms, you will find that it is selling very well, and even when the price is restored to the normal selling price, it is still selling hot, then congratulations, you may have found a product that is suitable for you. A better channel for selling than Amazon.
5. Resell excess inventory to your competitors
Why would your competitors need your slow-moving products? This is a reasonable question. If your competition is currently bottlenecked in sales, they will be looking for an advantage they can take advantage of. And the products you resell to them at a low price may be better used by them. After all, each seller has a very different operation idea. But if the product is technical, has many moving parts, or is proprietary, your competitors are unlikely to accept your resale for obvious reasons. Make sure to sell excess inventory to your competitors as close to cost as possible to turn inventory into cash flow as soon as possible.