Overstocking 101

Overstocking 101: A Guide for Small Store Owners

Being a small store owner can be a tough job. One of the biggest mistakes small shop owners make is overstocking their shelves which can lead to wasted money, lost profits, and unsold products. To help, here's our top tips guide.

1. Research Demand

The key to stocking your shelves is making sure you know what your customers want and need. Take time to research customer demand and trends in your area so that you can make the right choice when it comes to buying products.

2. Monitor Sales & Trends

Once you have an idea of what products are popular, keep monitoring sales and trends. This will help you adjust your stock levels as needed to meet customer demand.

3. Make Adjustments to Your Stock

As products become more or less popular, make adjustments to your stock. If something is selling quickly, order more. On the other hand, if something is not selling, reduce the quantity you have in stock to save money and space.

4. Use Stock Solutions

There are a variety of automated stock solutions shops can use for inventory management that can help store owners maintain accurate product levels without having to manually track stock. This can help you save time and money.

5. Offer Discounts

If you find yourself with too much stock, consider offering discounts to customers for purchasing those items.  This will help move products faster and ensure that your shelves remain stocked with only the most current and relevant products.