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#008: The Hidden Costs of Inventory Hoarding
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From inventory that overstays its welcome to cash flow struggles, this episode unpacks the hidden costs of holding onto unsold merchandise. Learn how bold markdown strategies, efficient inventory turnover, and a shift in mindset can transform your profits and free up cash to reinvest in your best sellers.
What You’ll Learn in This Episode:
- Why holding onto slow-moving inventory is costing you more than you realize.
- The benefits of bold markdown strategies and cash flow reinvestment.
- How to identify best sellers and maximize inventory turnover for higher profits.
Key Takeaways:
- [03:28] A story about the real cost of keeping lazy inventory.
- [07:28] Strategies to turn stale inventory into cash flow.
- [09:55] How a mindset shift about markdowns increases profits.
Resources & Links
- Get the Clearance Sale Secrets program now to liquidate unwanted retail inventory in 6 weeks, without destroying margins or discounting best sellers
- Read this blog to learn why you should never do a storewide sale!
- Ready to coach up? If you’re already at 6 figures and ready to scale up to 7 figures, watch our free class: 3 Steps to Maximize Profit & Reduce Overwhelm. If you’re not there just yet, watch: How to Increase Your Sales So You Can Consistently Pay Yourself & Your Staff. Together, we'll help you build the profitable, sustainable business you've always dreamed of – one that lets you sleep better at night knowing your retail dreams are becoming reality.
- Follow us on social media for more updates! Facebook / Instagram
- Join the community with ambitious store owners in our Richer Retailer Facebook Group
Have questions? Reach out via email!
Listener Action Steps
- Never miss a moment, subscribe to Richer Retailer on your favorite podcast platform!
- Loved this episode? Leave us a 5-star review to help more retailers find us!
- Join the Retail Mavens community at retailmavensfb.com to brainstorm ideas and gain support from fellow retailers.
Thanks for tuning in to Richer Retailer, where we help you build a business that serves your life. See you next time, and remember: YOU ARE LOVED!
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