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How to clear out old hardware inventory?

A couple of years ago we ran a highly successful kickstarter campaign which raised over $500,000 and became the largest tech project on the site outside the US. Two years later we've focused our strategy and moved on to making never versions of the product and the first generation units that we delivered to our customers are quickly becoming obsolete (still useful but old technology). At the same time we still have a few hundred of these units in stock and don't know how to sell them.

Initially our strategy was to sell online, mainly through our own website. But as we fine-tuned our strategy and moved away from this model, traffic to the website decreased, and with it sales of the product. Our new strategy of selling the new product through our partners meant not sell through our website or even directly through us, reducing traffic and demand for the old product even further To the point that I'd like to stop the hassle of online sales all together. I thought about writing the last remaining bit of stock off and just scrapping it but I wanted to see if other entrepreneurs here had better ideas.


Just a last point to consider, we don't have a large sales and marketing team that can blog/post/promote the product or any promotions we could come up with (that was one of the main reasons we moved to working with partners). So trying guerrilla marketing techniques is not really an option.


Thoughts?

16 Replies

Daniel Wiser
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Daniel Wiser Advisor
Innovative & Entrepreneurial Marketing Executive
There are many retail chains that sell distressed inventory. They are nice, as you can move old product, recover your costs, and not worry about reaching your target consumer (assuming they don't shop at distress stores). Not knowing the retailers of your country, it's hard to comment - there are many such places in the United States. For online, you might want to consider something like an Overstock.com (or equivalent) - or run a daily deal / discount. You can consider removing your brand from something like that (if it's possible...not knowing your product).
Chris Heuer
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Chris Heuer Advisor
Futurist, serial entrepreneur and change agent
overstock.com
Eoin Matthews
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Eoin Matthews Entrepreneur
Cofounder at Point
a) Hit up the old Woot team at Mediocre.com -- looks like they are getting started (again) on a new daily deal site and I imagine it will be very Woot-like. There are lots of other liquidators but they are one of the few teams that go direct to consumer so there's no other middlemen or middlewomen to pay. b) hit up ebay daily team deal team and see if they will handle it. c) approach a disti/liquidator
Paul Bostwick
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Paul Bostwick Entrepreneur
Researcher and Self-Employed Product Designer
Overstock.com? People do not expect the latest and greatest there so you's not cannibalize you channels worth a think.
Phillip Mobin
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Phillip Mobin Entrepreneur
Founder and Chief Wish Maker at WishExpress
What is it? : )
Ahmad Zahran
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Ahmad Zahran Advisor
Non-Linear Thinker | Strategist | Entrepreneur
Thanks everyone. Overstock.com seams interesting. WiIll contact them to see what they say.
@Phillip, it's an HDMI dongle called Pocket TV. More here http://www.infinitec.com/pocket-tv/

More ideas always welcome.
Phillip Mobin
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Phillip Mobin Entrepreneur
Founder and Chief Wish Maker at WishExpress
Hey Ahmed,

Pretty cool product! Going to e-shop doesn't show anything newer. Two places that I think may be useful for you to contact that sell all kinds of things like this are
www.meritline.com
www.rapidbuyr.com
and may be the grommet (google them)
Steve Vigus
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Steve Vigus Entrepreneur
Senior T&E Engineer at Garud Technology Services Inc.
Ahmad, Assuming that it's a tech product you may be able to liquidate a good portion of your inventory by selling through woot.com. Best of luck to you. Steve
Jason Oliver
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Jason Oliver Entrepreneur • Advisor
Founder and Technology & Product Executive
Groupon Goods or Living social - love deals.


Brett Odom, CFA CMA CAIA
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Brett Odom, CFA CMA CAIA Entrepreneur • Advisor
Managing Director at Azimuth
Check out meh.com. They move a lot of heavily discounted, older stuff. Founded by the guy who started Woot.com, which was also a daily deal site. Amazon bought woot. That may be a channel as well. Not sure how they work from a supplier side you can probably contact both companies and see if theyll move it for you. Im sure youve considered eBay or Amazon marketplace. Good luck Brett Odom, CFA CMA CAIA (m) [removed to protect privacy]
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