What to do with Old Merchandise that Will Just Not Go Away?
“What do you do with old inventory that will just not go away even with 80% off?”
A: I have an idea for that, Trisha. It's called the wastebasket because it has no value.
And you're pining after this lost love like somehow they'll come back to you and reward you. And they aren't.
They're just a bad lover, just get rid of them.
I've said this before, at 80% off there's no value in this. It's like spilled milk, it doesn't get better with age.
Now it's like, what, two years old? And you have hair growing on it and people are coughing around it. You're focusing on pennies at this point which is a waste of your time.
Some will say to give it to your best customers but let's face it, no one was willing to pay for it so why give it as a gift?
You could wrap it in butcher paper as a white elephant gift with purchase or something fun but why put all that care into bad, old merchandise?
My advice is to donate clothing to a shelter or some other good cause.
Same thing with jewelry or any other number of products. And if that doesn't work, just pull it all together, throw it out, and be done with it.
But this idea that you're going to unlock any kind of value for anyone when it's past 80% off means this was a bad buy, or it's oversold, or the trend's moved on, or a million things. But you're not going to make money.