There’s plenty of pressure in retail to sell stock quickly. Customers are always shopping for the latest look when a new season rolls in. Putting on a Bartercard Sale Day is one way to speed up sales at full retail price while creating a leading customer experience in-store – just like Sydney brand Osmen does.
Their Managing Director Michelle Lam-Li started doing Bartercard Sale Days in 2013 where she’s sold over $2.5 million worth of excess and superseded stock at full retail prices.
This is how it’s done…
The brand
Osmen sells beautiful outdoor furniture to restaurants, cafes, and resorts globally. Like every retail business, seasonality is something to constantly keep in check.
Bartercard Sale Days
When there’s surplus stock at the end of the season, Osmen hosts a Bartercard Sale Day where members are invited to shop with their Trade Dollars. These members often bring cash-paying friends and family to boost cash sales too.
The upside of seasonality
Michelle said Bartercard Sale Days can clear up to $400,000 worth of stock in a single night and have sold over $2.5 million worth of excess and superseded stock at full retail prices.
“Bartercard not only moves stock that’s superseded by newer product but saves valuable storage space. No business wants its floor space or warehouses full of items and Sale Days shift stock quickly. We also sell discontinued items – if it’s not cost-effective keeping the line, we put it in the sale.”
Michelle Lam-Li, Osmen
The Osmen warehouse isn’t normally open to the public and Sale Days let the brand attract a new market of customers quickly without the foot traffic or enhanced POS requirements.
“The stock sells quickly without creating a ‘wait for discount’ mentality among cash customers. The items that we sell on Bartercard are still great products – it’s the stock we have just as a new season look comes in. You will always have certain styles left over for different reasons and Sale Days reduce that stock.”
Michelle Lam-Li, Osmen
How it’s done
Bartercard Sale Days are low-cost and Bartercard arranges everything from start to finish. The stock list is determined ahead of time then teasers are sent around the country. Members are invited to shop the selection of sale items clearly marked.
Spending Trade Dollars to offset cash costs
Bartercard Sale Days earn Trade Dollars that Michelle spends on business and lifestyle expenses to offset cash costs. Since 2008, she’s saved over $1.6 million by spending Trade Dollars instead of cash.
Bartercard can sell excess and slow-moving stock.
Apart from sale days, Bartercard members can sell excess stock online to a unique marketing of loyal customers.
For more information about selling excess stock in your business without discounting, click the banner and complete your details.
