Clearance sales in e-commerce
Stock clearance sales
There comes that time of the year when businesses are clearing their stores in order to bring in fresh new products. For example, a business might clear their store in order to pave way for summer clothing when winter is over. Sometimes stock clearances are not good for businesses. There might be a liquidity happening and businesses might decide to clear their stock in order to raise more capital to pay up loans. Stock clearance sales involve aggressive marketing and price reductions that competitors cannot compete with. This is also common in the e-commerce sector. Clearance sales in e-commerce are done mostly for clothing. Clothing usually loses its appeal over time as fashion trends change with each generation. It will not be valuable for any company to keep products that people are no longer interested in buying. This is why businesses need to initiate clearance sales. Clearance sales online can also boost the popularity of a business. Business popularity can be boosted through clearance sales as people will start believing that your e-commerce business sells cheap products.
Clearance sales buy one get one free
Another very common clearance technique is to offer customers two products for the price of one. This ensures that they are buying a product with just half the price. Most customers will actually jump to a deal like that. This is another marketing technique that seems to work for most businesses. However some products don’t seem to sell when it comes to using this technique. This technique cannot be used on products that people don’t need more of.
Clearance sales with the change of season
When the season changes you need to initiate clearance sales. For instance, people are most likely going to buy hoodies during winter than in summer. This is just the time you need to initiate clearance sales. When winter is about to end when you still have hoodies stocked you need to offer clearance sales promotions.