Part 5/8:
Everyone loves a good deal, including price breaks on bulk orders. However, this often misleads businesses into making poor choices. The entrepreneur poignantly asserts, “if you can't sell through the inventory, the price break doesn’t matter.” The realization that the inability to move inventory creates an ocean of overhead costs proves clarifying.
The Delicate Balance of Selling Out
Another critical lesson learned was the maximizing of scarcity. Surprisingly, selling out of a product can build hype and demand. Rather than releasing massive quantities of a product only to sit on unsold stock, selling out can become a strategic marketing tool that fosters customer anticipation and loyalty.