Avoid illiquidity and order a marketplace inventory
Avoid illiquidity and order a marketplace inventory
Have you invested a lot of money in goods, but they have been sitting in storage for months and sales are stagnant? Every day that goods remain unsold, your shop incurs losses. Selpway Trading specialists share their insights on how to organise your marketplace inventory so that your money works for you.
It is not just stock that is lying around as dead weight. It is money that is frozen in your business, it is your resources that could have been invested in development or new products. If you do not control your stock, one day you will simply lose the opportunity to grow, because your entire budget will be spent on storing and maintaining obsolete goods.
What is illiquid stock?
How to spot the problem in time
The first thing you need to do is learn to look closely at your inventory. It is important not just to record the quantity of goods, but to analyse it. If a product has been on the shelf longer than it should, that is a signal. To prevent this, you need to regularly check sales dynamics. If something has not sold for several months, you need to take immediate action rather than hope that someone will suddenly need it.
Control is not a one-off action, but an ongoing task. If you get into the habit of checking your stock once a week, you will always be able to assess the situation and react quickly.
Control is not a one-off action, but an ongoing task. If you get into the habit of checking your stock once a week, you will always be able to assess the situation and react quickly.
If you have already noticed that goods are starting to become illiquid, it is important to speed up sales. To do this, you can review prices, run promotions or make special offers. Don't be afraid to lower the price a little; it's better than holding dead stock and losing money on it every day. The main thing is not to delay your decision, recommend the managers at Selpway Cyprus.
What to do with illiquid goods
To prevent leftovers from turning into chaos, you need to implement an accounting and planning system. This means not ordering goods ‘by eye’, but relying on real data on sales and seasonality. Plan your purchases, take demand into account, and don't buy more than you can sell within a reasonable time frame.
It is also important to maintain constant contact with the marketplace: study reports, analyse trends, and adapt your product range to what people are actually buying. If you keep up with the market and pay attention to your inventory, you will be able to avoid many problems.
It is also important to maintain constant contact with the marketplace: study reports, analyse trends, and adapt your product range to what people are actually buying. If you keep up with the market and pay attention to your inventory, you will be able to avoid many problems.
How to get organised
Choose your product range carefully
Very often, the problem of illiquidity arises from having too wide a range, when you try to cover all categories and products at once. To avoid this, it is important to focus on what really sells well and brings in profit.
Refrain from ‘experimenting’ with untested items and do not spread your resources too thinly. Narrow your product range to those items that are in stable demand and perform well in sales. This approach not only reduces the risk of dead stock accumulation, but also facilitates inventory management and accelerates cash flow.
Remember: in marketplace business, speed and flexibility are key. The sooner you start monitoring your inventory and getting rid of it in a timely manner, the better your financial situation will be and the more opportunities you will have for growth.
As a reminder, the SELPWAY blog previously published an article about what a marketplace is and how it works.
Refrain from ‘experimenting’ with untested items and do not spread your resources too thinly. Narrow your product range to those items that are in stable demand and perform well in sales. This approach not only reduces the risk of dead stock accumulation, but also facilitates inventory management and accelerates cash flow.
Remember: in marketplace business, speed and flexibility are key. The sooner you start monitoring your inventory and getting rid of it in a timely manner, the better your financial situation will be and the more opportunities you will have for growth.
As a reminder, the SELPWAY blog previously published an article about what a marketplace is and how it works.