A stocktake sale is a promotional event designed to move excess, slow-moving, or outdated inventory directly after your annual stocktake. Retailers throughout Australia use these sales to convert stagnant stock into cash. You will now notice increased promotional activity, both in-store and online, as businesses compete to offer attractive deals. Hopefully, now you are or have completed your annual stocktake. While the paperwork may be nearly finished, this period presents a unique opportunity: to make a stocktake sale. It can help you clear out surplus stock and get some cash into the business.
A stocktake sale is not merely a seasonal tradition; it is a practical, results-oriented strategy that delivers proven and measurable business benefits.
The Strategic Timing of a Stocktake Sale
Launching a stocktake sale immediately after your inventory review is a highly effective approach for several reasons.
First, consumer expectations are heightened at this time of year. Shoppers are now seeking bargains. They are driven by widespread advertising that highlights stocktake sales offering significant discounts. By aligning your sale with this demand, you can drive increased foot traffic and capitalise on consumers’ readiness to spend.
Second, your inventory data is at its most accurate immediately following a stocktake. You have precise information on which products are underperforming, nearing expiry, or simply occupying valuable space. Now you can make the best decisions with the best information.
Third, clearing out slow-moving stock frees up capital and shelf space, giving you a significant boost to cash flow when we all need it to pay the bills coming now for next year.
Tips
A good stocktake sale should be short and limited to create a sense of urgency among customers. Limiting the duration and availability of your stocktake sale can make it more appealing and exclusive to customers. Your regular customers may become suspicious if you go on for too long.
Promotion is inexpensive and easy to accomplish. All you need is a sign on the window and a stand with the goods in your shop. You don’t need to spend a lot of money or time promoting your stocktake sale. Use simple and effective methods. If you have a social media account for your business, you can use it for free to promote your store.
Conclusion
Making a stocktake sale is excellent to clear old stock, boost sales, and promote your business.
Written by:
Bernard Zimmermann is the founding director of POS Solutions, a leading point-of-sale system company with 45 years of industry experience, now retired and seeking new opportunities. He consults to various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.
