Retail Inventory Management: Another way to use social media to help your business
The number of ways a business can use social media to increase their audience of raving fans and to build their community of potential buyers and, in the end build up the bottom line, are endless. It is our intent to frequently give you quality, useful social media tips for various industries.
Retail
If you have ever worked in retail (or been a customer in a retail establishment for that matter) you have seen the heaps of clearance/discontinued merchandise in the stock rooms, or tucked away on the back endcap in the back row of the back corner of the store. Some of it may have been sitting there, collecting dust for years. If a product doesn’t make a pretty display, or there isn’t quantity of the product, it won’t sell on the sales floor.
Or will it? What if the morning manager took a picture of one of these lonely items with their smart phone, posted it to the store’s blog (which is of course set up to disseminate posts to their other social media sites) and announced the one-day deal on the item (while supplies last) on all their social media sites, broadcasting it to their entire community! This would take about 30 seconds to do, and if done with 5 products each day, could reduce the inventory of these old items, sold to the fastest bargain buyer!
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