What are your thoughts on closeouts?
Clients have called me on many occasions looking for closeout DEALS on promotional products and apparel. Closeout promotional items are usually offered at a discount (and sometimes a DEEP discount), which can be very exciting to someone on budget. Once in a while we get LUCKY, but unfortunately closeouts usually don’t work out for several reasons:
- Many items go into closeout because they are “old hat” or just unpopular. Even at a discount these items will most likely NOT appeal to your customer long term if at all.
- Some items are discontinued due to product flaws, or they have improved the initial product. These items look and sound great, but they may not function properly or as well as the new version.
- Some companies stop offering certain items because their inventory is very low and they have decided not to reorder. Often, by the time you find these closeouts they are already sold out, which can be very disappointing.
- When it comes to “children’s” items, meant for children under 12, many items go on closeout because due to new laws they are no longer deemed safe for children. These are never a good idea because if they get into the hands of children under 12 AND have your name on them AND a child gets injured you and your company could be liable.
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