Moving to a different store can be an exciting new beginning, but a fresh start is possible only if a retailer can identify which lines will propel the business into a prosperous future and shed stale inventory.
A relocation sale is the perfect way to clean house. How an owner approaches the transition can make the difference between setting a solid foundation for the current (and next!) generations of management and failing to maximize the tremendous growth opportunity such a major business decision provides.
There is considerable strategy involved in relocation, and it begins with a thorough, clear-eyed examination of the store’s entire inventory. Bringing in a partner with valuation expertise can help identify what to keep, what to sell, and where to focus the store’s resources going forward.
This is a different operation than a seasonal sale. A relocation sale is a highly specialized event because there is a sense of urgency and critical need to maximize value while ensuring that the targeted inventory is sold in a finite, often short, time window.
Likewise, marketing a relocation sale needs to be a highly strategic undertaking.
A relocation sale is one of the best opportunities a retailer will ever have to bring in new customers and build a client base at the new store before the move even takes place. Consider this: Think of a relocation sale as a sort of pre–grand opening event, and the imperative for a strategic approach becomes clear. With the right strategy, a relocation sale will build business at the new store before the doors even open.Follow JCK on Instagram: @jckmagazine
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