The holidays may officially be over, but are they really over for businesses? Not quite. In fact, for many businesses, the holidays are a months-long event that involves pre-planning and post-holiday inventory assessments.
Before Americans sit down and carve the turkey in November, retail businesses are already hard at work planning for their Black Friday deals. According to Business Insider, “Walmart boosted its online inventory ahead of Black Friday by more than half” in 2016. But it didn’t stop there. In 2016, Walmart.com began offering 66 percent of the 600 most popular toys available on Amazon—an increase from 46 percent the last holiday season.
Businesses large and small all focus on boosting their holiday inventory for November and December. But what’s a company to do when the holidays are over, and inventory still exists either because it didn’t sell or was returned? Managing your inventory can be difficult any time of the year, but at the holidays it’s even more challenging. You could take a loss by selling it at a discounted price or hang onto it for another year, which costs you in warehousing and storage fees.
A better idea is to participate in media and asset trade, which is a strategic marketing resource that allows you to creatively enhance your marketing funding and performance, while still meeting business and financial objectives.
We like to use the “Midas methodology” to build simple yet successful media and asset trade models:
Let Midas Exchange help you alleviate any worries about leftover holiday inventory and begin planning for Halloween—because it will be here before you know it!