211 | Clearing Slow Stock Without Damaging Your Brand with Catherine Erdly

The Resilient Retail Game Plan

In this episode of the Resilient Retail Game Plan, I'm addressing one of the most requested topics from my audience: how to clear slow stock without damaging your brand.

We'll explore what makes a discounting strategy harmful to your brand, and why it's crucial to avoid blanket discounts in favor of targeted promotions. I'll walk you through practical steps for categorizing your stock into prime, okay, ends of line, slow sellers, and out-of-season, and provide actionable tips on how to manage each category effectively.

We'll also discuss backup methods like secondary market sales and donations to clear persistent stock.

Tune in to learn how to keep your brand's value intact while managing your inventory efficiently.

[00:00] How do you clear slow stock without damaging your brand?

[01:50] Understanding Brand-Damaging Strategies

[02:57] Principles of Effective Discounting

[06:52] Identifying and Categorizing Your Stock

[10:39] Strategies for Clearing Slow Sellers

[16:06] Secondary Methods for Stock Clearance

[18:44] Additional Resources

Download a free chapter of my book from the show notes on my website at https://www.resilientretailclub.com/podcast-episode/clearing-slow-stock-without-damaging-your-brand-with-catherine-erdly/

Learn more about the Resilient Retail Club: https://www.resilientretailclub.com/membership/

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

If you liked this episode you might also like:

196: Stock Management Questions Answered: https://www.resilientretailclub.com/podcast-episode/your-stock-management-questions-answered/

17: 5 Steps to Running a Stock Clearance Sale https://www.resilientretailclub.com/podcast-episode/5-steps-to-running-a-stock-clearance-sale/