Surplus inventory – how to sell backlogged goods?

Backlogged goods and end-of-collection items that are not particularly popular can be a challenge even for the best salespeople. What to do with those products?

• How to sell surplus inventory effectively?
• How to generate the highest possible revenue from the outlet items?

Find out, how can you cut your losses and sell your overstocked goods at a profit with the SilentClicks.

Surplus inventory and retailers’ problems

Even the best retailers and wholesalers struggle with excess inventory. Some products are not sold because demand for such items has not reached the expected level. In such a case, excess storage becomes a frustrating problem, not only by the space taken up.

Some of the biggest problems generated by backlogs at wholesalers and retailers include:

• freezing of assets,
• inability to generate profit,
• decline in the value of goods over time,
• costs of good’s storage,
• taking up space that could be used for new supplies.

Backlog problems most often affect industries that depend on trends and novelties that appear regularly, such as e.g. electronics.

Excess inventory can be an affliction for both stationary and online stores and wholesalers. Usually in such a case, entrepreneurs decide to radically reduce prices, which is not the best option, considering the fact of losing potential profit. Another example of dealing with backlogged goods is the introduction of an Outlet sales category. In such a section, frequently the discount is small, but consistent – there is a linear percentage discount on most items, or they are divided into categories, such as -10, -20 or -30%.

Promotions and price cuts are not the ideal solution to the problem, given the harsh consequences in terms of reducing potential sales profit. Of course, such treatments contribute to freeing up warehouse space and getting rid of backlogged goods, but nevertheless they are never fully satisfactory to businesses.

Effective surplus inventory selling with SilentClicks

To deal with surplus goods, you do not have to resort to radical price reductions and accept only a 1:1 return on invested funds. A specialized tool for in-company sales, SilentClicks, is a solution to maximize potential profits by creating closed sales.

Effective selling on SilentClicks is possible because:

#1 You attract attention

By opening a new sales channel on SilentClicks, you can put up product listings and launch item auctions, engaging loyal customers in active sales. Bidding is a way to attract more attention from contractors or customers and create long-term relationships with them.

#2 You create a USP

With a list of items from your backlogged goods, you can present the Last-Minute Offer or create a Golden Offer from single collection endings and set a minimum amount for which you want to sell the item. Invited participants (f.e. leads obtained from newsletter signups on your store’s or wholesaler’s website) gain access to a unique sales offer and can bump up the rates of selected products, maximizing the potential profit for your business.

#3 You activate customers/contractors

With auctions in the SilentClicks tool, you not only create a new sales channel and effectively get rid of your backlog, but you also allow auction participants to feel special. It’s because you provide them an offer targeted only to a select few. In this way, you increase a customer attachment to your brand and make them eager to return for more. Thanks to that, you build a stronger brand position.

An important advantage of using a specialized tool for in-company sales is building a brand community. Getting rid of goods that are not in demand is difficult. But when you give your customers or clients something more, in this case access to VIP auctions, you influence their subconscious and show that a loyal customer can get more from you. You can be sure that it works, and you will effectively sell your backlog.

How to sell outstanding goods on SilentClicks?

You can sell the outstanding goods on SilentClicks in a few simple steps. After registering, you can immediately prepare your offer, which is done using a simple form. Just create a list of active auctions and invite auction participants to start selling.

To take full advantage of SilentClicks potential, it is worth using extended licenses with additional functions, including:

• Increasing the limit of active auctions at the same time

Depending on your needs, with an extended license, you can create up to 100 or even 200 active offers at a time. In the case of the Enterprise package, you can create offers without quantity limits.

• Increasing the limit of auction participants

Each paid license allows you to invite more participants to your auctions: in the case of the PLUS package – up to 100, PRO – up to 250. The Enterprise package is an unlimited number of participants in your auctions.

• Setting your logo 

Each extended license allows you to set your logo. Thanks to that, you contribute to building a consistent brand identity.

• Customization of your sales zone colors

With the PRO license, you can modify the colors of your zone, creating a consistent UX layer for your customers, visually emphasizing your brand.

• Integration with other systems

If you expect more, our specialists can integrate SilentClicks with other external systems to help you build a new, full-scale sales channel.

By using the specialized tool for in-company sales, SilentClicks, you can run a quick, effective and profit-maximizing sale of surplus inventory. SilentClicks does not charge a sales commission, and you sell the outstanding goods in the form of an on-line sale for selected customers.

Key takeaways: How to effectively sell the backlog of goods?

You can organize an effective sale of surplus stock in a way, that is accessible to both: you, and your customers, by using the specialized tool for in-company sales, SilentClicks. Thanks to the functions of the tool, you can not only get rid of the goods in the warehouse, but also:

• you will create a new sales channel for selected customers,
• you will engage customers in active sales,
• you will free yourself from the problem of frozen assets,
• you will use auctions to maximize potential profits,
• you will offer a loyalty program with access to unique opportunities and build long-term relationships with customers.

Try SilentClicks out and see how to create unique sales opportunities easily – register and create your first offer with the Free license.