How to Turn Old Clearance into New Dollar Signs
Turning Clearance items into Dollar Signs in Clearance Displays!
All retailers are faced with the difficult task of how to sell clearance items. Customers should view clearance as an added benefit of doing business at your store. You can add value to clearance items through “presentation”, even when merchandise is marked down. Although cheaper and older, these clearance items still have revenue opportunities. Retailers can make the older merchandise appealing again, IDD offers a wide selection of fixtures and signage to assist with the challenge of creating clearance displays!
Clearance displays and Clearance Events
Typically, clearance displays should be positioned in the back of the store. Clearance displays should only be positioned in the front of the store if you’re having a big advertised clearance event. Collapsible Salesman’s Racks will allow ease of setting up and taking down for big clearance events. Invest in larger fixtures like round racks, double-bar racks (sometimes called “H” racks) and large 4-ways. All of which have the options of rubber casters for better mobility. Gridwall merchandisers outfitted with baskets can be successful at maximizing little items in your clearance area. Choosing a variety of dump bin sizes could be great, depending on your types of merchandise.
Here are 7 Layout Secrets of the Big Retail Chains if you’re interested in learning more about the layout of your store.
Create inviting clearance displays
Be sure to keep your clearance items organized. Do so by carefully folding and hanging merchandise organized by color and/or size. Try using sizers along with size markers, customers will have no trouble finding the right fit. This makes it much easier for your staff to return merchandise to its appropriate home after customers try them on. After all, first impressions can be lasting so do your best to impress your customers.
Additionally, unless you decide to have an “as-is” section with damages clearly marked, clearance items should not look shopworn or shabby. Remove any damaged, torn, missing buttons apparel or merchandise. Clearance merchandise must be available within reach. Moreover, consider having separate fixtures for tops and bottoms. Finally, don’t forget to remove all clearance items from mannequins, including any window displays.
What signage to use in clearance displays?
Finally, no clearance area is complete without the proper signage. Signage will direct and inform your savvy bargain shoppers where to begin. Use a mixture of floor poster displays and acrylic or metal sign frames attached to fixtures. Whether you decide to have a sidewalk sale, in-store clearance event, IDD offers many signage options in a wide variety of shapes and sizes and materials.
Above all, every retailer needs a plan of action for moving slow-sellers, broken collections, or even damaged pieces. It’s incredibly important that your merchandise does not become overstocked and stagnant. Additionally, don’t forget to use social media to alert customers of newly marked down merchandise and annual clearance events. Sometimes, clearance items are the current season merchandise. Sometimes, they are from the season prior. Regardless, budget-friendly shoppers will often share their treasure finds with friends. Alas, a form of free advertisement!
Following our tips for turning clearance items into profit will not only make room for new inventory but keeps your retail and brand looking fresh. Furthermore, do you have questions on how to revamp your clearance display area? Call or email our experts today for a consultation or design ideas, we are here to help! 1.800.821.5748