What do you do when funds are low, inventory is thinning out, and you need a holiday merchandise sell-through to raise survival cash for your business? That was the problem facing a retailer I worked with last week. As consulting work goes, it was the most fun, and yet challenging job I’ve been asked to undertake. Here are some of the “move inventory” ideas we brainstormed together.

First . . .
- Pull samples of all the non-perishable gift items that haven’t sold in the last year. Bring into the design room and set them out on a table.

- Gather any and all decorative bags/boxes and containers -- especially holiday odds and ends -- and put them in an area beside the gift items.

- Assemble standard inventory samples of gourmet foods that can be used as main components.

Next . . .
- See what you have that can be repackaged and/or camouflaged into decorative bags, boxes and tins.

- Brainstorm for ways to work odds and ends into gift baskets/boxed sets (i.e. adding an ornament to fill space).

- Think of ways to mix non-matching items into “daily specials” -- gift baskets that can be wrapped in patterned cellophane so that nothing shows inside the basket. Next, make signage to place next to these daily specials, advertising the products inside the basket. Mark these baskets 30%, 40%, or even 50% off the standard price. Use these odd-lot baskets to raise capitol and clear out the last pieces of really great merchandise lines.

- Build a big display with motif merchandise. Pull together everything with a snowman theme, for example, and group the merchandise together in a tasteful display. Themed items will sell better placed together.

For my client, the initial results were positive. The first customer into the store the next day purchased 12 centerpieces, created with the pull-together odd-case inventory. This customer also stopped in front of a snowman display (where we had made a half-dozen gift sets from the mismatched inventory) and said she was considering buying little sets like these for office gifts. She would return later for the purchase (these sets had also been priced at a daily special of $9.99). In addition, she was intrigued by the idea of some miniature baskets with candy in them, that my client (following the coaching session) suggested could be handed out as a token of appreciation with staff paychecks. “Yes,” she said. “I’ll need about 60 of those.”

Great first customer reaction and sales from the inventory workover! Ah . . . it feels good to hear the cash register ringing! Especially when everything is total profit ‘cause last year’s inventory was paid for but just sitting around. That’s even better than finding $5 of quarters in your sofa!!!!