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Half day tile sale turns excess stock into T$300,000

landing page 11 - versatile ceramics-998-122
 

Half Day Tile Sale Turns Excess Stock into T$300,000


When the owners of family business Versatile Ceramics decided to close one of their two tile outlets to reduce overheads, the challenge was getting rid of the huge amount of stock at that location. There was little room to accommodate the stock at their other outlet, and running a series of print and radio advertisements to sell it off would be a costly exercise, particularly when the high quality Italian and Spanish tiles would have to be sold at discounted prices to move it quickly.

 

Versatile owner Priscilla Dabit mentioned their problem to the team at Bartercard Sydney Central when they visited the store to see if they could better assist the business. The Bartercard team presented a solution – hold a half day sale for Bartercard members and sell the stock for trade dollars.

Priscilla saw the benefits immediately. The good quality stock was likely to go very quickly because of the discounted prices and the fact that product sales at bargain prices don’t happen every day on Bartercard.

Plus the advertising was better than free – the Bartercard team would design and run the entire campaign at no cost to Versatile Ceramics. Being time poor, the idea had win-win written all over it.

The date was set and the sale scheduled to run from 9am to 1pm. About 80 Bartercard members turned up and by 1pm Versatile Ceramics had sold over $300,000 worth of stock. Priscilla was impressed.  “It was just amazing! It all happened so quickly and so easily. There were no browsers - the members who took the time to come to the sale were there to buy. We didn’t sell all of the stock, but we made a huge dent in it.”

 

Priscilla admits that in the last two years she has really concentrated on making good use of Bartercard within their business. They’ve arranged $25,000 worth of new signage, had painting, plumbing and other maintenance requirements taken care of, and purchased their invoice books and business cards. Now, she looks for nearly everything on Bartercard before making a purchase!

Of course, with T$300,000 in the trade kitty, and still doing some 10-15% of their turnover on Bartercard, you may be wondering what Priscilla plans to do with all those trade dollars. She said she hasn’t decided yet, but a real estate investment is on the cards. 

 

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