There comes a time when a retail business owner may decide it is time to close the doors. If you think it’s time for you to start your outdoor gear closeout sale, you should take the time to do serious planning. After all, you don’t want to just give your inventory away, when you could get a fair price for all of that outdoor adventure, hiking, and camping gear. No matter what time of year you choose have your closeout sale, there will probably be items out of season, but that’s OK. With the right preparation it will sell. A consultant from G.A. Wright Sales can help you plan and hold your closing sale.
Determining Your Bottom Line and Goals
If you have been a dutiful bookkeeper, you know the value of inventory. Make sure you gather all of the paperwork of your inventory so that you know what you paid for it compared with its retail value. Determining your cost of goods against their retail value will help you know exactly what you need to maintain a profit. Your main goal should be to decide exactly what date you want to close, promote your outdoor gear closeout sale, and sell as much as possible at the right prices so you can still bring in some profit.
This is exactly what the G.A. Wright team has been helping retailers do for decades. We can help you, too. We will help promote your outdoor dear closeout sale to your existing customers, along with many new ones. The key is to bring customers who are looking for the best prices while supplies last. You want to remain true to your business reputation while staying transparent about your timeline. However, you should customers to buy items now because when something is sold out, that will be it. You will not be ordering any more.
If you are planning to sell your displays and fixtures, make sure to tell more than just your customers know. Inform your local chamber of commerce and other business owners in your retail community about your outdoor gear closeout sale as well. Just make sure to let any interested parties know you still physically need to use those fixtures throughout the sale.
Determine the Dates of Your Sale
Remember that when you are holding an outdoor gear closeout sale you are not going to sell out the entire inventory overnight. G.A. Wright can help you organize a timeline based on the amount of inventory you have in stock. We can create a special plan around the inventory focusing first on gear that is still in season at the time of the sale, then planning the best way to promote and sell any items that are out-of-season.
One thing you don’t want to do is sell out of the most popular items too quickly, seasonal or otherwise. Those popular products are going to continue to draw in business throughout the sale. Closeout sales need to be progressive. You are going to want to offer a better discount on those harder to sell items, while retaining more marginal specials on the popular ones, especially at the onset.
Reaching Your Target Audience While Marketing Your Sale Promotions
G.A. Wright can help you marketing your outdoor gear closing sale. Our marketing campaign should include legacy marketing, such as print ads, billboards, periodical, and radio and television advertising along with the use of the internet ads, website specials, Facebook promotions, and other social media exposure. Indoor signage offering current promotions and timeline are an important part of your marketing as well.
It is very important to use social media and email to inform for your existing customers of your upcoming store closure and sale. New customers are likely to hear about your through your legacy marketing strategy.
Planning an outdoor gear closeout sale takes time and planning. G.A. Wright has the experience and expertise to help by using proven techniques that have literally helped hundreds of retail stores across the country plan and implement their closeout strategy.
Fill out our contact form, and a member of the G.A. Wright team will be in touch right away. We’ll plan a trip to visit your store, learn your goals, and share how we can help you with a successful closeout sale helping to retain your bottom line and your reputation.