The second tip to consider is the positioning of aged inventory. Research shows that positioning is key to an effective product strategy. Buyers are drawn to what they see, and the order in which they see it. Most of the stores we visit daily (Target, Sam’s Club, etc.) have positioned their inventory intentionally.
Consider the checkout line at the grocery, and how gum, candy, and other snacks are always present. It’s the store’s hope that you (or your children) will spot the snacks on your way out the door and make a purchase. Take a good look at your lot. Are there areas where you can place your aged inventory so that it will be more enticing to prospective buyers?
Some dealerships utilize lifts, or position cars diagonally, starting with the ones they want to sell the quickest. It’s easy to move aged inventory to the back because your focus has shifted, but if you really want to get things moving, positioning is key!
The last thing you may want to consider is creating sales incentives for aged inventory. You know your salespeople better than anyone because you see them every day of the week. Selling aged inventory can be trying, but with an extra bonus attached, salespeople might be inclined to put forth special effort. Think about a structured incentive program for your aged inventory. Would a bonus, or some other type of incentive be more effective?