How to sell stale inventory in your online shop?

One of the first rules of online business is that you must have an adequate cashflow.
You have to constantly sell your products, create cashflow and keep the profits. The longer you hold onto inventory that won't sell, the more it will weight down your profitability. Keeping products in stock for a long time increases the product's stocking cost. It takes place in your warehouse for which you probably pay monthly rent and eats your space for more profitable or more popular items.
So not only you can't sell your product and create a profit, it is reducing your total profit day by day. This is why it is crucial to shed stale inventory as fast as you can.

You have multiple options what to do with stale product:

  • Return it to the supplier.
  • Reduce the price.
  • Write it off.
  • Sell it in a bundle.

Returning the product might not always be possible and may even incur in some additional charges for handling the product. But if your supplier accepts the product then returning it might seem as the most reasonable solution.

Reducing the price will probably help you sell the product. But if there wasn't much interest for it then it probably still won't sell on it's own.

Writing off the product incurs in immediate loss and is usually not desirable.

Selling the stale product in a bundle is usually the best thing you can do.
Let's say you have a popular product A and unpopular product B, which is in your warehouse for more than a year. A lot of customers are constantly purchasing product A, but are not really interested in product B.
If you create a bundle with product A and product B and offer a discount for both products when they are purchased together, you might convince your customers to buy both products.

There are multiple benefits from such an offer:

  • Customers gets product A with a discount.
  • Customers also gets product B with a discount.
  • Customer is satisfied because he got a discount in your store and is likely to return again.
  • You sell stale product B.
  • You increase the customer's total cart value.

A lot of benefits for you, your shop and the customer. The most important one is probably the one where customer likes the deal he got and wants to come back to your store. This one gives you a loyal returning customer.
Something we all want.

How to sell a product in a bundle

There a various ways of selling the product in a bundle. It really depends on how much time are you willing to invest in creating a bundle. For example you can create your own system for handling bundles in your shop, for promoting them in your online store in Shopify and for tracking the inventory correctly. Not to even mention that you have to let your fulfillment team know which products to ship when you sell a bundle. 

The best option for creating a bundle in your online shop will be to use the Bundler, a Shopify bundle app, as Bundler comes with all these features out of the box. 
This means that basically Bundler allows you to create a bundle in your Shopify shop in a matter of minutes (if not seconds). And in addition to that, Bundler, the Shopify bundle app, takes care of:

  • displaying the bundle in your shop,
  • promoting the bundle in your shop (on product pages and in upsell popups),
  • applying bundle discounts,
  • correctly tracking and reducing the inventory for bought items,
  • passing the info about the products your fulfillment team has to send to the customer,
  • saving your time as you don't have to worry about all these aspects,
  • and much more!

As Bundler takes care of all that, this makes it the ultimate bundling solution for your online store in Shopify.