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Bonus Inventory
noun
— merchandise purchased with significant savings; see also: Found Inventory (as in that box of T-shirts from last season you stumbled on in the stockroom)
If you’ve been blessed with a Bonus Inventory opportunity, then now is the time to maximize the potential of this merchandise to increase retail sales!
Don’t miss this lucrative spending holiday! According to a survey conducted by TopCashback.com, 90% of adults plan to shop for Labor Day deals. Consider themes like: Changing seasons (Goodbye Summer or Hello Fall), Back 2 College, Treat-Yo-Self; partner with surrounding businesses to cross-promote; promote your sales event in-store and online beginning the Monday before Labor Day.
Weekends are perfect for promoting Sidewalk Sales! Plan ahead for an extra staffer to man outdoor tables, and promote-promote-promote in email, online, and in-store. Consider chatting with neighboring stores, or even your local business association, to host a Sidewalk Sale day for all of downtown (or a specific neighborhood.) Reach out to your church youth group or another local civic organization to set up a lemonade stand or bake sale as part of your event. You’ll be helping a local group, and you’ll energize your marketing efforts, too. Offer a giveaway in exchange for a name and email address to build your email list for customer engagement.
If your Bonus Inventory includes easy cash-and-carry items, take the time to set up an attractive display at or near the register to increase those last minute impulse purchases. Think Keychains, Socks, Jewelry, and small Gifts. Practice suggesting one of these easy add-ons on every purchase with your staff. Before you know it, your AOV (that’s Average Order Value) will rise, increasing your total sales right along with it!
Back to school is an awesome time to move lucrative Bonus Inventory out the door and increase retail sales! If your shop caters more to adults than kids, consider this: spending to prepare young adults for college is on the rise; marketing to 18–25 year olds, and their parents, is a smart move. Offer an enticing special like “Buy One Get One Half Off” or “Buy 2 Get 1 Free” on T-shirts, Raglans, Hoodies, or Hats to help college students set off to school in style.
Hooded T-shirts, Raglans, Sweatshirts, and Zip Hoodies are popular year-round, but especially during the Autumn season. If your Bonus Inventory includes these items, promote deals on these popular styles during the months of August, September, and October. Consider giving a cool Hoodie away each week as a way to gather names/email addresses, and promote the giveaway on social media. Encourage Referrals: Offer bonus drawing entries for every customer who brings in a friend or family member to shop.
If you’re hoping to make a sales splash on Black Friday, then now is the time to begin planning. Gather up all the Bonus Inventory you can now to be able to offer Doorbuster Deals on Black Friday [11.25] or Small Business Saturday [11.26]. Stock up on quality T-shirts to offer at $5 bucks each with any purchase. Offer Hoodies at $10 with any $50 purchase. Think creatively to come up with ways to entice customers to spend more, to score a stellar deal. Don’t forget to ask for email addresses at checkout, or host a giveaway to gather names and email addresses. Let customers know by sharing their email address, they’ll be the first to know about sales and in-store events.
Snapping up Bonus Inventory is a cost-conscious way to build up your in-stock offerings not just for special promotions, but for Q4 sales in general. Stock up on product categories your customer base favors, whether that’s memorable accessories, message-based Tees, or eye-catching Ball Caps. Stocking up on these staples at a lower price means a higher profit margin for you at the register.
No matter how you leverage Bonus Inventory to increase your retail sales, remember to take advantage of new names and faces to grow your marketing list. Invite customers to follow your shop on Facebook (consider printing your website or favorite social URL on the bottom of every receipt), and take down names and emails for drawings or a loyalty program to capitalize on repeat business. Consider giving a $5 off $25 coupon to every shopper in November, good for December 1–24. Double the value by offering (2) $5 coupons — one for you, one for a friend, to encourage referral business.
While Supplies Last — Save up to 80% Off Kerusso® Closeout Inventory. Choose from nearly 300 products including T-shirts, Hoodies, Raglans, Caps, Jewelry, and more.
