8 Best Online Stock Clearance Ideas For Your E-Store

Inventory management is a nightmare when  ‘Excess stock ‘ shows up. The excess stocks eat up your inventory space and fill up your mind with worries. Don’t worry- Even the most successful online stores suffer the same problem.

Inventory clearance for E-Commerce / WooCommerce store

 

Stores experience the problem with excess products normally when it is the end of the year or season. This is mainly because of the demand for the product reduces as new products arrive. You probably think that someone is coming to buy all those products sometime…

 

…but this ain’t is happening. You need to take immediate action if you find the store is getting filled up with Surplus.

 

Because excess products can cause you,

  • No return over the capital that you invested.
  • Need for more space.
  • Stock either becomes obsolete or expires.
  • Surplus effects in the future investment of your store.

 

The first solution that rises up in your mind is Stock clearance. And what with that? It isn’t easy as you thought. Right?

Stock Clearance for E-Commerce / WooCommerce store

Excess Stock can directly affect your business. As time and trend change, people easily get turned away from old commodities. Apart from the negative side lets see how you can smoothen this situation.

 

#1: The New look

Engaging the users with your store is the first thing that you should take care of if you plan an inventory clearance. Invoking curiosity among the users is the best solution to make users visit your online app or website.

Makeover for WooCommerce/ Ecommerce store

A changeover for your WooCommerce store can bring in a lot of attention and new customers.

Start with a new stunning WooCommerce store theme. Just like redecorating your home interior, replace all the In-app contents and include as many as banners and sliders to your home page. Move and change everything that is necessary to bring a totally new and cool look.

 

#2: Upload a new product picture:

Many of us don’t give much importance for the picture of the product which is to be uploaded in the E-Commerce/WooCommerce app or website.

Product picture for WooCommerce / Ecommerce app

Upload a high-quality image and take the photos from all the angle so that the user gets to preview the product easily.

 

#3: Better Deals

Discounts are the one thing that is loved most by the users and a traditional method applied for stock clearance.

There are various discount tactics, but not all will be suitable for stock clearance.

Better deal ideas for WooCommerce/ E Commerce store

 

A flash sale: Offers for ‘Limited time period‘  is very effective for stock clearance. An urgency will arise among the shoppers to buy the product which has offers, especially under timestamp condition.Limited sale idea for WooCommerce / E-commerce Store Notify the users about the sale which is yet to come. Here you can use push notifications and Emails to capture users attention.

 

Even after sending the Emails and push notification in advance, there are chances for the users to miss out the sale.

To avoid this and to increase user engagement, You can send them messages to ask them whether they should be reminded about the upcoming sale.

If the shoppers are interested in the product, the probability for them to hit the ‘ Notify‘ button is high.

 

  • ‘Buy more, get more’ is an even better offer which can help you move excess products from the E-Store. Give a discount or coupon for the shoppers when they make a quality purchase.

 

..For example when a shopper makes a purchase of 3 T-shirts and if it comes under a conditional discount, you can either charge only for 2 t-shirts or give one additional T-shirt free.

 

Remember, Running frequent offers may change the users perspective to the products quality and this may end up hurting your business. Show up some discounts during special occasions like festivals or holidays.

 

#4: Convey the products demand

One reason for shoppers buying multiples of the same product is people easily get tempted to buy a product when it is either scarce or of high in demand. Put a banner  ‘limited stock only ‘ and see the miracle.

Indeed, Slowing moving products can be made more popular with this method.

 

#5: Grouping the products

Grouping the products is another tactic which can be used to sell the surplus products. While grouping the products, remember that the grouped products make sense.

For example, If you are selling cycle parts, grouping 3 cycle light won’t make many sales as people who buy 3 cycle lights are rare. Instead, you can make a group which includes a cycle light, A cycle horn, and a cycle basket.

..and last but not the least, give a discount for this combo pack.

Yaas! I would buy this pack.

Product grouping for stock clearance

This doesn’t mean that you shouldn’t sell bundles of the same product. Actually, this works even better for many products.

Consider selling 3 T-shirts in 3 different shade. Aye, that is an attractive bundle when it comes with discounts.

 

#6: Incentives and Freebies works in every era

Not all surplus products can be sold out using the above ideas. Waiting for someone to come purchase these products is not a good idea. Instead, you can give away such products which have very less scope to be sold.

To determine to whom you should give away the freebies, Set a  purchase condition.

For example, Make the free offer available only when the shopper purchases a set of products. Like, you can give away a jar when the user has purchased a set of crockeries.

 

You will only be looking for additional methods if all the above-mentioned idea is not suitable. There are two options during such a situation.

 

#7: Donate and gain tax benefits

stock clearance ideas for Ecommerce / WooCommerce store

If all the above plans don’t work donating is the next best option for you. You can donate the surplus products to charitable organizations. This can help you get tax privileges for your business.

 

#8: Return or exchange

See whether the product supplier can accept a return or exchange for the slow-selling commodity. This is possible if the product package is undamaged and packed. Moreover, if you are a potential customer of the supplier he would accept deals from you as a part of customer retention.

 

Conclusion

Managing surplus products are always a burden for a store owner. but with the above-mentioned methods, you can resolve this problem easily.

Put forward better deals and offers to the shoppers and this will turn in more customers. But before diving into a stock clearing, the inventory has to be analyzed and all the sales data has to be recorded.

Monitoring the best selling and worst selling product can help you understand which item should not be purchased for your store. This can help decrease surplus products.

Top Strategies To Improve Customer Loyalty In Your WooCommerce Store

Loyal customers are extremely important for any business. This is because they are capable of contributing to your store revenue more than new customers. According to this study by Bain, customers spent more on apparels from a brand after knowing the brand for 2-3 years. The figure was 67% higher than what they spent on the first few months after being introduced to the brand. This fact itself should motivate you to maintain long-term relationships with your customers, who tend to trust you more as time goes by. Here, we will look into some of the strategies you can try out to improve customer loyalty in your WooCommerce store. You will also get an overview of some of the best tools you can use for this.

Create a mobile app

While doing a demographic analysis of your customers, you may have noticed that the younger generation of shoppers prefers mobile shopping more than using the desktop. According to this article by Neil Patel, over 52% of millennials use smartphones to shop. As a WooCommerce store owner, you need to make your store ready to address this challenge. Nothing helps here more than having a dedicated mobile app for your store.

 

Mobile apps help a lot in improving customer loyalty. To begin with, customers who download and install the app are already committing their time to you. Once a significant number of users install the app on their mobile device, your brand recognition will increase. Also, there are more chances of prospective customers seeing and recognizing your brand icon on their mobile screens. This will be a good assistance to your marketing efforts and helps a great deal in developing trust for your store and products. Overall, having a mobile app has become one of the essential items in the checklist of a budding store owner.

 

You might be postponing the app development citing several reasons such as lack of resources or time. However, solutions like Appmaker.xyz make it pretty effortless to build a mobile app for your WooCommerce store.

 

With the help of appmaker, you can create a dedicated Android or iOS app for your WooCommerce store from scratch in a matter of minutes. You can customize the design and layout of the app according to the requirements of your store. Moreover, it offers push notifications, which enable you to be proactively in touch with your customers. And you will be able to closely monitor user behavior on the app and accordingly create new promotional strategies. Moreover, it supports multiple languages and payment gateways to make it much easier for you to manage international customers.

Reward customers

Periodically rewarding customers is one of the obvious ways to encourage loyalty. Customers generally love it when you offer a discount or freebie. If you can create a system for this, it can do a lot of good for your long-term strategies in retaining customers. In the WooCommerce landscape, you will find a few good tools to set up a rewards system for customers.

 

WooCommerce Points and Rewards plugin is a great option to be systematic about rewards on your store. For completing purchases, or for performing some actions like leaving a review, you can reward your customers with points. When they reach a milestone by accumulating a specified number of points, you can let them avail a discount in exchange for the points. This will definitely boost chances for repeat purchases on your store. Customers can avail discounts at product, category or global levels within the upper level defined by the store owner.

 

With the help of this plugin, you can create customized messages to be displayed on Cart and Checkout pages. You can also use a unique name for the whole process of collecting points and rewards.WooCommerce Points and Rewards plugin is one of the best options for you to set up a reward system on your store.

Configure Pricing Deals

It is no secret that online shoppers love a good deal at all times. With an abundance of choices, customers are somewhat spoiled for choice in the eCommerce world. So there are certain defining factors that are capable to drive customers to your site. Offering a unique pricing strategy is one of them. Dynamic pricing deals for your products will help you build a loyal customer base on your store in no time.

 

XAdapter Dynamic Pricing and Discounts Plugin offers great scope to offer dynamic pricing on your store. It helps you set up multiple rules to offer price adjustments at various levels on your store. You can configure multiple rules at the same time and define a priority with which it will be applied. With the help of this plugin, you can offer discounts at product, category or cart levels.

 

 

The plugin is a great tool to reward customer loyalty. You can create rules to offer discounts or price adjustments based on the amount or number of previous orders from a customer. In addition, you can make it more personalized by offering special prices for loyal customers based on their email id or user roles. Also, it helps you offer layered pricing for wholesale stores, where different customers are offered different prices based on the number of items purchased.

Offer Impeccable Customer Service

Great customer service is another important factor that will differentiate your store from the rest of the pack. A well-organized customer support system should make sure that your customers recognize your brand and develop a comfort zone with you. There are several SaaS-based helpdesk systems that you can choose. However, these tools take away the control of data from you. Having an ‘on-premises’ tool for customer data might be a key factor for a lot of stores. Here is an article that discusses the advantages of using an on-premise helpdesk tool in place of a SaaS, in the post-GDPR perspective.

 

Lot of store owners, who are using the WordPress-WooCommerce platform, would need a hassle-free, feature-rich helpdesk system like WSDesk. Fundamentally, it helps your customers create support queries by creating tickets using a contact form displayed on your site. However, it does much more than that, with fantastic scope for workflow automation. When you automate the workflow of your customer service department, you can offer quicker resolutions to customer issues.

 

 

WSDesk helps you automate the workflow with the help of triggers. You can specify an action based on a particular condition, and avoid manual intervention for a lot of routine aspects of your customer service department. Automatically resolving long pending tickets, prioritizing tickets based on the channels they come from, assigning to a specialist based on ticket keywords, etc. are some of the awesome things you can do with WSDesk. You can read a more detailed piece on what it can do here.

 

Overall, tools like WSDesk help your support team be more available and productive, and the long-term result would be customer loyalty.

 

Stay Connected with Live Chat

Most eCommerce customers would like their issues to be resolved instantly. Featuring a live chat option on your site is a great way to handle customer issues quickly. With a live chat window, you are actually opening a continuous communication channel with your customers. It helps you with functionalities that won’t be possible with traditional phone support. And, it can help a lot in creating a personalized customer experience, which is another important factor for customer loyalty.

Advanced tools like LiveChat plugin offer great options to follow up on sales leads on your store. Automatic, personal greetings for customers would be a great way to engage customers in your store. Naturally, this would create a good first impression to new users as well as create a better sense of belonging to repeat customers. In addition, you can gather customer data that would enable you to approach them in a more targeted manner.

If you are able to resolve most of the issues coming from customers quickly, you will create a very good impression among customers. And for more complicated issues, you can justifiably take more time without leaving customers frustrated. You can read this review of LiveChat plugin to understand its features in more detail.

Customer loyalty is an obvious differentiator for business success

According to expert opinion and realistic data, loyal customers bring in more return on investment than new customers. This makes a lot of sense considering the huge financial investment associated with the marketing efforts for acquiring new customers. If you are able to retain customers acquired through different channels, it would significantly increase your chances of conversion too. Having an exclusive mobile app is one of the important steps you need to take in this direction. In addition, a good helpdesk system, a live chat tool, and a reward system too would help a lot in retaining customers. Use your store’s analytics data to identify any potential gaps and accordingly implement these strategies. Leave a comment, if you want to share an insight, or have some query.

Author Profile:

 

Sujith Reghu: Writing on WordPress and WooCommerce with an unflinching focus, and trying to woo the unyielding Google bots.

 

Things To Look Out While Transitioning From E-Commerce To M-Commerce Platforms

E-commerce to M-Commerce is an easy word said. Before getting started with  M-commerce, Let’s take a look at the important points to ensure that you are providing a wonderful M-commerce experience.

M-commerce is not at its nascent stage and neither Electronic commerce is not universal. Mobile apps can be used to its extream, in order to achieve the target you want to achieve with M-commerce. The first points that come to the mind are,

The Smart Mobility factor: Flexibility is a prior thing while moving your business to M-commerce platform.  M-commerce put an end to the limitation that users face by using any hardware-heavy machines. Mobile devices are easily portable and the space they occupy is small. The emergence of mobile devices made it easy for E-transactions and more.

Everything in a blink: Each mobile apps have a sleek approach.  Food items and even medical supplies have to be delivered very fast after the order has submitted.  We can say that this feature is delivered by M-commerce applications. All the urgent queries of users are met in time.

Play shopping:  Shopping experience can be turned to complete fun experience with gamification. Rewarding the customers with badges and points is always interesting. People love gift vouchers and scores.

The key to the growth of any organization is customer engagement and it’s not that easy to achieve this. In M-commerce There are many methods to engage users.

Push notifications:  Reaching closer to the customers have come so much easier with Push Notifications. This opportunity can be used for marketing and product promotion. Not to mention the discounts and offers. Customized notification can be sent to each shoppers suiting their interests.

Personalized approach: CRM databases can be implemented for each transaction made by the shoppers to deliver personalized services. Personal purchase details are got as one mobile device is used by an individual alone.

The real reach: M-commerce is a profitable venture to invest in the business because of the usage of mobile devices all over the world. Economic campaigns can be implemented for startup in need of fast growth. Yet M-commerce cannot be considered a reliable plan for all the startup as we can see that there are much such organization gone into dust relying on the M-Commerce alone.

Localization: There are so many features of the native devices which can be used in M-commerce. Like, One can target a group of audience based on the geographical spot, this is possible with GPRS. Selling sweaters? Is it winter in Toronto?

The solution for increased cart abandonment rate E-commerce Industry: Cart abandonment is a plague for the E-commerce industry. This issue can be handled properly. Like, After the user abandon the cart, just with a notification saying about a 15% off for that product is capable if the shopping is done in an hour or two.

This results in an Immediate purchase of the product which was abandoned by the same user.

Are you really transforming your business from E-commerce to M-commerce? Learn everything that you need to know.

 

Download the Free Ebook!

Need a free assistance while adapting M-commerce?

Here Feel free to get in touch

  • mail@appmaker.xyz

 

 

2018 M-Commerce Checklist

Thinking to move ahead with converting your E-commerce business to M-commerce? You’ll be hearing all about the necessity of having a mobile app. Before you jump to a conclusion, let’s check out what your users expect from a mobile app.

A mobile app without these points? Oh, No…

Super speed(Fast & Reliable):

This is the first reason why you need an app for your website.  slow like a snail, websites take time to load. Apps have caching property and this makes apps faster and hence reliable.

 

NoAccount checkout(guest Checkout):

Shoppers will not be always in a mood to fill up the registration and login forms. Hence forcing users to log in just before the checkout is not a good idea as it increases cart abandonment. A  guest checkout will do in such a situation.

A wishlist for future purchase(Purchase later options):

Whenever I shop I always come across a product which I badly want, But not necessarily urgent., this happens to all. Take advantage of your customer by implementing a wishlist, this is a message for your customer like-” Don’t you worry, come back after sometimes, this product is here now and then”.

Appmaker.xyz Chechlist
M-commerce Checklist

Adding a wishlist has its role in increasing the user engagement. You cannot exclude this one.

 

Autofill forms(Information Lookup): 

Save your customers from boring form filling steps. With autofill forms, Users will have to fill the forms only at once. With the information lookups, there won’t be a second time where users will have to fill out the forms.

 

Chat Interface:

Mail inquiries and calls are outdated,  Go online by enabling chats. and help the customers with queries and doubts regarding your app.

Rating and reviews:

Shoppers take ratings and reviews into account before buying a product. Moreover, letting the users share their experience of using the product lets you know what properties and feature if the product should be altered.

 

Payments Gateways:

 The app should support the payment gateways just as in your website. Adding multiple payment methods will ease the transaction process for users.

 

Multi-language support:

If planning to extend the business in future, multilanguage support will be an advantage.  Connect with customers worldwide!

 

Promotion Widgets: 

Promotional offers and discounts can be showcased within the In-App pages. Adding banners and scrollers to the app should be possible.

 

Retargeting Adds:

  With the users search data one can post ads in the user’s various social platforms and engage the user back into the app.

 

Sorting and filters:

Let the users drill down to the product they search for.  Enabling this option will help customers find their desired products.

 

Android and Ios apps:

While transforming from E-commerce to M-Commerce target both the Apple and Android users. The android users alone all over the world is about 2 billion users, which says that There is no M-commerce without Android phones.

 

Push Notification:

Notifications and messages are to be sent to the users to re-engage users with the app.

Curious to know more about M-commerce before taking a leap into it.

Here download the free Ebook on Insider’s Secret to Mastering M-commerce!