RETAILOBSERVER.COM OCTOBER 2016
6
Moe Lastfogel
moe@retailobserver.com
Moe's Musings Views
Happy Retailing,
Y
ou know that box in the back of your warehouse that is covered with
dust, has no bar code and has been shifted and moved around so
many times that the cardboard is tattered and torn? Yes. that box, your
forgotten and discarded piece of profit. And what about all of the
damaged products that will never get a return authorization or were
already paid for by a claim? This is your "B" stock and that means $$$.
Don't waste profit by letting your old stock and damaged products just
sit in boxes in your warehouse.
During the downturn, I remember seeing a few companies that took
advantage of these often forgotten boxes. And helped themselves not
only stay afloat but thrive and grow. One example was Airport Appliance
in Northern California. They partnered with a local TV channel during the
weekend broadcast and sponsored and hosted a TV show right out of
their warehouse full of scratch and dent and old stock. With TV and
newspaper advertising they received flocks of customers looking to get a
deal when deals really weren't around to be had. During that time, while
competitors were closing stores, Airport Appliance grew their bottom line
and actually opened more locations making them one of today's stronger
players in their market.
Donations to charities are also a great way to clear up this stock and
who isn't looking for a write off? Habitat for Humanity, the Goodwill or
Salvation Army to name a few are always looking for products to sell or to
give to those in need. Stoves, refrigerators, microwaves, old display
cabinets and even the towels, pots and pans you used for demos can be
a great donation.
The truth is, if it's sitting around with dust on it, it's not doing you any
good or helping your bottom line. Sell it or donate it. Who doesn't want
more $$$ and with the extra space in your warehouse you'll be able to
put more of what does sell in its place.
WHAT'S IN
THE BOX?
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We proudly support the following
trade associations and buying groups
throughout North America whose news
and information greatly contribute to the
quality of The Retail Observer and the
education of our readers.
www.unitedservicers.com
www.cedia.org
www.NKBA.org
www.asid.org www.aham.org
www.brandsource.com
www.megagroupusa.com
www.ce.org
www.nahb.org
www.dpha.net
www.htsa.com
Follow us on:
Join us at:
www.psaworld.com
www.nationwidemarketinggroup.org
www.NARI.org
www.cantrex.com
Become a Fan:
www.psoca.org
www.necoalliance.com
www.prosourceinfo.com
www.nahfa.org
www.nrha.org
THE RETAIL
