Earlier this month, Nike reported a 44% increase in inventory compared to the prior year.
That increase has come about because of ongoing volatility in the supply chain and a slowdown in consumer spending.
If like Nike, you have more stock than sales, read on.
By the way, their stock level stands at an eye-watering $9.7billion.
Discounting and promotions will be used to clear off-season lines.
The hope is that Christmas buyers will focus on the newest products.
If you’re a serious exerciser rather than a fashionista, now would be an excellent time to snap up some gear for yourself or presents for those on your Christmas list.
However, Nike is not the only big brand retailer dealing with overstuffed inventory levels.
Other retailers face similar challenges and will likely follow the discounting and promotional route to stimulate consumer demand.
Getting cash back into a business by turning excess stock or billable time (if you supply a service) is something most companies face at some point.
Discounts and introductory offers are a proven way to win clients in the short term.
Later, many will become long-term buyers purchasing higher-margin products over time.
Email marketing linked with trade show exhibiting provides an excellent combination for SMEs to promote offers and make sales.
It’s a subject covered in the Trade Show Stand Management Part 2 training course.
NB. Thanks to Total Retail magazine for an excellent article about Nike.
Very best,
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