Managed store closure and inventory disposition process to tight deadlines.
We were commissioned to formulate and implement a strategy to liquidate inventory through four stores planned for closure. Famous general merchandise retailer Deutsche Woolworth required the disposition of large quantities of obsolete stock within a designated timeframe. A two-tier exit programme was initiated using the themes ‘Massive Clearance Sale’ and ‘Store Closure Sale’ over a 28-week period. We completed precision capacity calculations for obsolete stock liquidation and then designed a promotional marketing plan to support the project. To begin, inventory was distributed across the four stores for the ‘Massive Clearance Sale’ before shifting to the ‘Store Closure Sale’ strategy during the final third of the project, liquidating the entire inventory to zero. It was important to maintain core products to provide a full product offer for customers and maximize footfall, so key selling lines were replenished throughout the sales. The client also benefited from significant full price margin sales generated from these lines, which impacted the bottom line. The project’s success was underpinned by our significant retail experience and close collaboration with the Deutsche Woolworth management team who responded positively to opportunities to add stock into the clearance process. Any obstacles were quickly overcome and all stock was cleared within the required timeframe, with stores returned ‘broom-clean’. The deal was a resounding success, and an ongoing relationship was established to execute repeat projects for additional store closures going forward.