Ecommerce dead stock can accumulate due to a variety of factors, including unsold seasonal products, out-of-style clothes, and more.
Dead stock is inventory that has never been purchased and is unlikely to remain unsold in the future, hence storing it in warehouses could be costly. Further, dead stock may prevent efficient warehouse utilisation, increase utility expenses like lighting and require additional staff to manage the inventory.
Collaborating with charities to give away unsold products can help brands manage deadstock, lower costs, and raise awareness by promoting the philanthropic actions on social. Giveaway campaigns can help businesses clear warehouse space and move unsold products.
Businesses should repackage dead stock into bundles to attract prospects with greater value and motivate them to buy. Understanding target consumer’s needs, resolving pain points, and offering excellent customer service can help brands prevent dead stock in the first place.
[8 minute read]