EducationQ&A

What can an awards retailer do to phase out products that are no longer current?

If there is a category of your business that you are trying to increase, then push that category by displaying it more prominently. Make sure that you display what you are trying to sell. 

Relative to your product assortment, the first thing that needs to be done is to remove all products that are no longer current. These can be items you have had for a while and are just not selling, products that have been discontinued by your suppliers, and products that rely on outdated processes. There is a good chance that whether you are conscious of it or not, these types of products exist among your offerings. 

A good idea is to isolate these items into an area of your showroom that you can devote to closeouts and assign them special pricing in an effort to move them quickly. Make sure that you know the amount of inventory of each item available and let your customers know that once these products are gone, they will no longer be replaced. 

   —Victory

Eric Priceman Victory

Eric Priceman

Eric Priceman is President of Victory. In his almost three decades in the awards and engraving industry, he has traveled extensively, both domestically and internationally, visiting customers and suppliers. He is happy to share his unique perspectives of the industry, both past and present. Please feel free to contact Eric by email at [email protected] or by phone at 773-637-7777 ext. 228.

Related Articles

Back to top button