Whatever business you’re in, excess inventory can be quite harmful. Not only does it take up inventory space, but it also does not provide the return you need. Hence, comes the concept of liquidation pallets.
Wholesale liquidation companies need to develop and adopt marketing strategies to boost sales. Whether people are looking to buy liquidation pallets in Seattle or somewhere else, wholesale liquidation companies should stay prepared. The following article lists some expert tips that can help you turn in a profit sooner and get rid of those liquidation pallets.
Post and Market on Social Media
Needless to say, social media has transformed the world, the way people shop, and the strategies of businesses. It is a great place to start a business and promote your products. Gone are the days of flyers, billboards, and posters.
Start a social media account and post your products to catch the eye of your target audience. However, ensure that the pictures have compelling visuals and aesthetics. Wholesale liquidation companies should ensure hiring a social media expert, SEO expert, and an experienced photographer.
This will help you come up in the searches of people close to you when they search – “liquidation stores near me” or related phrases. Ensure to use other tools like hashtags, poll stickers, and much more to reach a larger number of people.
Offer Bulk Discounts
Bulk discounts are a great way to clear out huge parts of your inventory. They also lead people to consider buying liquidation pallets more easily. Moreover, buy one get one free offer or other sales can also help you. Most people engage in sales because they are afraid to lose out on inexpensive items in time-sensitive events.
However, ensure to plan out convincing slogans and prompts to bring in as many people as you can. Try to get more effective with your promotional messages for a better effect.
Provide Customized Combos and Bundles
What do people appreciate more than discounts on liquidation pallets? Variety, of course! Offering customized combos and bundles of related items is a great way to clear out your inventory faster.
However, one thing to keep in mind is that the price of the combos should be lower than the total sum of the individual products together. Create combos with a catchy name that is related to its motive. For eg., a combo called “The Ultimate Home Decor” should have items like a vase, painting, and other home decor items.
Add Insight Posts to Your Products
Wholesale liquidation companies sell a variety of items and pallets are often made of multiple items.
Creating a post with pictures of some of these items that are worth mentioning can help boost authenticity and motivate people to buy liquidation pallets in Seattle or any other city.
Divide Your Pallets into Categories
If you’re one of those wholesale liquidation companies, it is obvious that your pallets can range from electronics to stationery. Hence, your company will attract several types of people. But, it might become annoying after some time if they cannot find what they need.
Segregating your pallets into categories makes it easier for you to advertise your products and your customers are able to find them faster. If you’re also on social media, you should consider creating guides on Instagram to group relevant products together.
Focus on Promoting New Products
If you have inventory space left, newer stocks will keep coming up. Newer stocks are somehow more attractive and catered to the audience’s current tastes. Moreover, keeping them in the inventory for long can spoil them.
Thus, it is better to promote newer products more diligently and urgently. Try hosting online bids or pop-up sales to clear out older stocks along with the newer ones.
Open Online Shops on Social Media Products
Listing and promoting your stocks on social media might give you the ultimate boost you need. Moreover, social media platforms like Facebook and Instagram have launched their Shop feature.
You can use them to open an online shop and list your products on the platform. Following SEO guidelines, using hashtags, and setting a proper location can help these products reach a larger audience. It becomes easier for people to shop for what they like within a few clicks and taps.
Most Wholesale Liquidation Companies stay stuck with traditional approaches and are hesitant to adopt digital changes. However, becoming more oriented to today’s technology means becoming more customer-oriented.
We hope the article helped provide some beneficial marketing strategies to boost your sales and reach more people. If you found these useful or have some more tips for a fellow liquidation store, let us know in the comments below.