Posted by Alex Jackson on 28th Jun 2019
When was the last time you had a McDonald’s hamburger? Has it been a few months or years perhaps? If so, you are not alone, the golden arches have lost some of their luster. Over the last decade, McDonald’s has seen a steady decline in sales and market share as newer players have entered the fast food arena and gobbled up large chunks of their market share. But this trend seems to be shifting after McDonald’s made one small but important change. After investing four years and 60 million dollars into optimizing their supply chain logistics, the company has shifted from making their quarter-pounders from frozen patties to fresh meat. This may seem like a small step, but this is a massive undertaking for a company of this size and the move to fresh over frozen has already started paying off. The company has reported an increase in sales of quarter pounders for the first quarter of 2019 of more than 30% that’s about 40 million more quarter pounders and roughly a gazillion calories for those who are counting.
Now justifiably you may be wondering what this has to do with selling liquidation merchandise. My point is this; If you are in a competitive market and your sales are flat or declining, you need to freshen things up. How this Is done in the liquidation resale market is basic; you have two viable options to keep your business growing. Either widen your current path or make some new paths for your business.
When I refer to widening your path, I am talking about increasing your inventory footprint. If you like what you currently specialize in, say for example Ladies Shoes and that’s all you want to do that’s fine, but make sure you are growing and not just treading water. You can keep your business continually expanding by increasing your inventory footprint. So often, sellers achieve a degree of initial success but then fail to keep the momentum going by continuously replenishing their inventory. It’s easy to get complacent and then lose that momentum you built up, keep it growing by widening your inventory footprint, more items for sale means more sales.
Your second option, make new paths, is about branching into new directions for your business. If you are currently specializing in a particular category, why not consider expanding into complementary categories? Selling Ladies Designer clothing? Why not add Jewelry or Accessories to the mix. This might entice a whole new audience, who would also be interested in your core category of goods. Create new business and draw in an entirely new audience by creating new paths for your business.
Growth is essential to any healthy business, and you have to keep things like your inventory fresh and Foxliquidation.com has what you need to do this. Whichever option you choose, widening your current path or make new paths, your success depends on your willingness to make that one small but important change.