Doing closeouts
March 28th, 2011
I have a friend that is doing closeouts on the end of every season. I asked him once is it worth the trouble, after all it is painfully hard to organize a closeout sale. To make every calculation right just not to go in debt and to predict the market correctly take a lot of effort. His answer was “are you crazy” the closeouts were bringing him more money than his regular sale. Because he is a small business owner he doesn’t have many customers during the regular sale period. But when the closeouts come, his store is packed. People are rushing to take whatever its left on the shelves.
Now if you plan the discounts right, you can make your season be successful in just the few weeks the discounts last. This period is immensely important to the overall success of his company, and I don’t see why it shouldn’t be for any other store or company. Closeout sale is the one and only way you can at least know that people will come and visit your store. Only put up a “sale” on your store windows and people will start pouring in. Once here, the prices and merchandise will have to convince them to buy.
Note that the profit made over a sale is not as much as you would get but if you take a minute and think about it you will see that if you kept your normal prices, you wouldn’t have sold as much merchandise. If you see things like this, then you will see the benefit to you as owner of the place. And also more people that have your products, more common your brand is and its name is ranked higher. Smart people will always buy on closeouts sale, because they get great quality product for less than its usual price.
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