In 2010, some manufacturers did a great job ensuring the green-grass channel had cleared as much ‘old’ product as possible. Ping approached the G15 introduction (driver pictured) with a commitment to help retailers sell out G10. At Foremost we saw a marketing effort result in very successful clearance.
Retailers need to be disciplined in managing ‘product lifecycles’, which starts with an ‘Equipment Lifecycle’ sheet.
Enter each product (i.e. TaylorMade – Irons – R9) and note the date it was introduced. Then agree with your rep to have 90 days’ notice on any product update that could impact on its demand. And don’t just wait for the rep. If a range is nine months old, find out what’s happening.
Make use of www.edwinwatts.com and www.golfsmith.com: if they have slashed the price on a product it is probably reaching the end of its retail life.
Once you know a product is on the way out, commence a standard clearance plan:
• Contact customers who play ‘lesser’ brands, but who might have an interest in the brand whose range is being replaced. Offering personal discounts will be appreciated even if they don’t buy.
• Contact customers who play an older version of the clearance range and inform them of the new range, OR that they can upgrade at a discount to the clearance range.
• Change stock location in the shop, print large POS and discount to clear.
• Promote through your email newsletter or website.
At Foremost, we encourage retailers to get as many of their golfers as possible to log online their equipment and preferences. This allows the retailer to provide a superior service while keeping product moving. Consider getting an assistant or paying a junior to do a first tee collection of data. It is valuable information.
Lastly, involve the supplier in the clearance plan and see how they can help. You both need to be ready to make the most of the new range when it launches.
