Leftover holiday inventory can still be an asset if you move quickly and strategically. However, now that the holidays are almost a month behind us, what do retailers do with the extra?

If storage is not an issue, then hold on to the good merchandise and sell it early at a slight discount so consumers feel like they have gotten a great deal. This works best for very popular items that won’t expire.

Unfortunately, storage is usually at a premium for retailers. Consider sending a “last chance” email and text campaign. Alert shoppers to great deals on popular items to draw them back into the store. Don’t forget to create some catchy graphics to add to your social media pages.

Consider rebranding the discounts as a ‘Winter Sale’ or a ‘New Year’s Reset,’ perhaps calling it a ‘Decorator’s Dream.’ If possible, remove all holiday-specific packaging to make products more appealing.

If the products are not too costly, consider making them freebies for loyal shoppers. Maybe a gift with purchase for some slower-selling everyday items. Many larger companies, like Amazon, are selling Mystery Bundles. Like children’s unboxing on YouTube, adults can unbox a basket of mystery holiday décor.

Online sites give retailers a good alternative if selling the items in-store is not a possibility. There are lots of liquidation platforms. Unfortunately, these items may no longer show a return on your investment.

Finally, donating the items is always a good option. The tax write-off may outweigh selling the items at a steep discount. There are lots of local non-profit organizations that can use the items, donate the items to those in need, or sell them to support their mission. Another donation avenue is to local tricky tray events. A holiday basket could create a great item for a school event.

The most important thing is to evaluate what sold and what did not sell. Take a hard look at the true losses of what was left over to understand the holiday bottom line. Understanding what sold best is always interesting: type of items, cost of items or overall interest. This will give some insight into future ordering. Sometimes the hottest item on the internet is not necessarily the hottest item for your customers.