To mark down or not to mark down that is the question. To be honest us vintage sellers are not the best at letting go of dead stock, let alone marking it down in a sale.
If we were a high street store, our stock would have a 12 week cycle. After 12 weeks if it hasn’t sold through it gets marked down in a “clear as you go style” sale. Stores take the profit hit and slash it to 50% off, then 75% to ensure they don’t have it lying around in stockrooms or on the sales floor.
Maybe we should take some learnings from this and be a little braver with marking down stock that hasn’t sold. It is hard I know as vintage isn’t a seasonal thing…but remember every item of stock is taking up precious space in your stock room or sales floor. For some of us that rent storage space it is also costing us money if it is hasn’t sold. Basically you are paying to store items that aren’t selling.
So be brave this new year and have a clear out. Remember stock is money that hasn’t yet been converted into hard cash so it may be better to sell it even at cost price to clear the decks for new fresh stock. So if you’re tired of looking at that same old chair, or lugging those same jumpers to fairs week after week- now is the time to get rid.
Many event organisers are holding “Sale” fairs in January, websites or ebay inventories can be reduced with scheduling too or simply hold some Flash Sales via Facebook. Have a garage sale..even do a car boot sale! It will make you feel better to finally shed any stale stock as well as make you more focused for next year with a buying strategy aimed at only buying what you know sells well.
