If you have stock on your shelves that has a Use By date on it, every day it sits there is one day closer to its expiration.
Start thinking about how you can move that inventory.
Ideally, try to sell it. If necessary, offer value added incentives for customers to purchase now.
eg: for a Spa, offer a FREE Treatment Voucher with every $100 of product sales.
But if you can afford it, give it away.
Turn this current crisis into a brand building opportunity.
Send a surprise gift to your best customers.
Better still…send a Skincare Gift Pack to the doctors, nurses on the front lines.
Even the grocery store staff who are keeping us fed.
Whatever you do, just don’t let your stock expire because of these lockdowns and shutdowns.
#inventorymanagement #retailing #brandingstrategy