Retailers sometimes face the problem of having items in their inventory that move too slowly or simply do not sell. These items end up limiting the space of your inventory and are vulnerable to wear & tear, scratches, breaks and chips. For retailers these items need to move out of the store as quick as possible so that new profitable items can replace them and eliminate the risks of losing stock value through stock depreciation. Preferably retailers hope to get rid of them without having to throw them away or by giving them away through a massive discount, as this will have as effect a drop in cost of sales, assets valuation and in profit. The best solution to get out of this situation dry is by using the customer loyalty program, which helps you to move these items through your store much faster and easier.
One of the ways to let go of some slow moving items is by offering them as a bonus or part of a bundle. Another way is by attributing bonus points for the members of the customer loyalty program, which can be redeemed for other items. Posterita’s point of sale offers you the opportunity to give additional customer loyalty program points on any item that you want, such as slow moving items, to make an item more appealing for customers. When a customer makes a purchase in your store of an item that has a certain amount of bonus points, your customer will receive these in his customer loyalty account. This way a retailer can promote products and gives an extra push to their customers to help you move specific items through your store faster.
By making items more appealing with the customer loyalty program, such as offering extra points, you are able to push slow moving items through your retail without the need for any investment or cut on your profit. Your customers will be satisfied with the additional points and you will be happy to move those slow moving products out of your inventory.