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We felt that Wingate did a wonderful job in liquidating our inventory and helping getting rid of fixtures and equipment. This is the second time we have liquidated. The first time we sold our property in Illinois to move to Florida to start a new store. Our First experience with a liquidator (not Wingate) was terrible. The consultant was not there half the time and did not communicate with us. Our Wingate Consultant was with us the entire time and guided us each step of the way, unlike our first experience. We would, and will, recommend Wingate Sales Solutions for any business considering liquidation.” This store was heavy in fasteners and related hard to sell items. Due to our Consultants hard work and use of our variable pricing system, our Pre-Showing and our customer incentive program, we were able to generate a 90% return on inventory cost plus the sale of fixtures and equipment.
OBJECTIVE: To liquidate the stock of Tarpon True Value hardware with the maximum amount of return for the owners with the least amount of expense.
As an owner I feel that this objective was met. The liquidation sale eliminated the store’s inventory within a seven week period. We realized a 90% return of the estimated $140,000 of product. I do feel that possibly the sale could have been done in one less week which would have cut the expenses of the liquidator and the store’s labor costs. I am happy to have had a 90% return which I’m not sure we would have gotten if we had shortened the sale.
PROMOTION OF THE SALE: Using our postal addresses obtained by earlier Loyalty programs and Wingate’s promotional letter to kick off the liquidation Sale was overwhelming. This mailing brought in so many customers the first day that our 45 car parking lot was full and customers were parking in adjoining store’s lot. The game, in which we offered many prizes, provided us with nearly 1000 names and email addresses. The liquidator utilized the email addresses to send out Constant Contact email advertising which continued to generate customer sales. Two newspaper advertisements were used in the local Punta Gorda Herald to again continue sales
DISCOUNTING: I originally disagreed with the liquidator about having variable discounts but decided that it would be best to let him make that decision. We discounted various departments and goods. That, I feel, gave the distinct impression to the market that we were very serious in liquidating our stock. Doing discounts of 10% to 50% by department and class, I felt, maximized margins. We had a very large fastening department. I would recommend that any store having a large fastening department not discount fasteners by the each but by the box.
OVERALL: We felt that Wingate did a wonderful job in liquidating our inventory and helping getting of fixtures.and equipment. This is the second time we have liquidated. The first time we sold our property in Illinois to move to Florida to start a new store. Our first experience with a liquidator there was terrible. The consultant was not there half the time and did not communicate with us. In researching I found that it is necessary to have a good liquidator to guide you. Our Wingate consultant was with us the entire time and guided us each step of the way, unlike our first experience. We would, and will, recommend Wingate Sales Solutions for any business considering liquidation.
~ William K. Zeithammer
We are facing highly unusual times. Stores in many states, cities and counties have been forced to close, and the consumer has been encouraged to stay at home and only shop for necessary items. It now appears that things are beginning to break open, the consumer is starting to get out and retailers are going to have to aggressively go after every dollar they can get to cover lost sales.
The retail industry has lost their good spring selling season. Retailers are stuck with two seasons of merchandise. Now they must reopen with a strong sale and heavy advertising to generate customer traffic and raise a huge amount of cash. Out of season and over stocks need to be converted to cash while in season merchandise needs to be sold to make as much profit as possible. AND IT NEEDS TO BE DONE AS SOON AS POSSIBLE!