Retail Marketing: Move Excess Inventory Through a Coordinated Multi-Channel Strategy

Shoppers getting squeezed by inflation received welcome news given today’s economy: promotions on televisions, furniture, clothing, sporting goods and other big-ticket purchases are ramping up. The news for retailers is less welcome: they’re sitting on excess inventory.

Target, Walmart, Best Buy, Urban Outfitters and other top retailers recently reported they plan to lower prices and increase sales to eliminate excess inventory, according to an article published on on June 1st.

Many retailers ordered products months ago in anticipation of ramped up consumer spending—spending that quickly diminished in response to historic levels of inflation.

“Companies chased as much merchandise as possible to support demand, which has now slowed,” said Dana Telsey, CEO and chief research officer at Telsey Advisory Group.

Communication Strategies for Retail Marketing

For retailers seeking to move excess inventory, Mspark can help. Consumers squeezed by inflation are more value-driven than ever. Communicate your special offers and value effectively with a targeted, multi-channel marketing strategy. We help retailers target consumers cost effectively, manage audience attention, and deliver coordinated messages that keep your brand top-of-mind throughout the buying cycle.

Did you know?

  • Purchase intent increases 175% when your digital campaigns are anchored with print.
  • Print is an effective digital on-ramp: 61% of consumers visited a retailer’s website after receiving a print ad.
  • Campaigns that include both print and digital touch points increase awareness and retention by as much as 52%.

More importantly, integrated campaigns that include ads in print and digital formats increase response as much as 30%, and the likelihood of making a purchase by 60%. Read the full article on the excess inventory challenges retailers face here. Reach out to Mspark today to discuss your marketing needs and plan your strategy to reduce inventory and drive results.

Sources: “Stores Have Too Much Stuff. Get Ready for Discounts,” June 1, 2022; Millward Brown Print Campaign Analysis; USPS Consumer Mail Moments Spring 2020, Summit Research; Valassis Awareness to Action Study; Connecting for Action – Canada Post Neuroscience Report; Valassis Purse String Survey