How To Super Power Your Business With Closeouts

Think back to when you were a kid.

Do you remember all those stories about ordinary people who would become superheroes when they found a special potion?

In a way, closeout merchandise is that special potion for a retail business.

While the majority of a store’s sales will consist of regular wholesale merchandise, closeouts can really super power those sales.

Closeout merchandise consists of products that a manufacturer, wholesaler, or brand, decided to “close out”.

Basically the merchandise is sold at a fraction of its original retail value because the seller wants it gone.

Retailers can greatly benefit by purchasing closeouts because they can literally buy them for up to 95% below the regular retail price, and can now pass on some of those savings to their customers.

Closeout merchandise should be used to attract shoppers to your store so that they will also purchase your regular merchandise.

Your aim when purchasing closeouts is to ramp up your overall bottom line, not just to sell that closeout merchandise.

For example, if you sell dresses, and you find closeout fashion accessories, you will want to advertise that your store is having a closeout sale on fashion accessories.

Your goal is to encourage customers to rush to your store. Once they are at your store they can purchase both the dresses and the fashion accessories.