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Category Archives: Pricing

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Selling Merchandise at End of Going out of Business Sale

One of the biggest mistakes store owners make at the end of a going out of business sale is getting rid of the last remaining inventory. It could be they believe everything will sell at 50% off. You will sell a lot of that price, but slowly the sales will trickle down to nothing. Many owners have a hard time selling items below cost. This is understandable while running your business, but at the end of a store closing sale, costs should not matter. The only thing that matters is how much you...

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Why Auctions Are A Terrible Way To Liquidate Your Retail Store

Auctions are good for the customers buying your inventory and the auctioneer. However, for the retail store owner, you will receive thousands less than liquidating your store with a sale after accounting for expenses. I have talked to many customers and store owners who buy from auctions. They have given examples of what they have paid for sections in the store. The last few days of the sale, I sell many sections in bulk. The amount we get is close to a winning bid in an auction. The...

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Pricing Tips to Start Going out of Business Sale

Here is the strategy that I use for pricing to start the sale. 1. Most items are 13% to start the sale. Many liquidation companies start at 20% off. You will increase your sales and return on the sale by starting at 13% provided you follow the other tips. 2. Clearance, discontiued and out of season merchandise is 50% off. 3. I have several items at 22% off and 33% off. I pick high gross low ticket items for these discounts. If you just have bad items with the additional discounts, it will...

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