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When it comes to the survival of a small business, profitability is essential. Whilst larger businesses can afford to take greater risks, small businesses must ensure every cost is accounted for and that loss is minimal.
For many small retailers, one of the biggest areas of financial stress is from overstocks and customer returns: product returns alone cost UK retailers around £60 billion per-year. What’s more, a lot of this inventory can’t or won’t go back on store shelves, and instead is slated for liquidation; this makes it essential for retailers (small and large) to have a liquidation plan in place that offsets as much loss as possible for the merchandise.
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