Why Limited Edition?
I get a lot of questions about Limited Edition products through out the years. Why do we offer products that the customer falls in love with and then can't reorder? There are numerous answers to this...
1- Ltd is usually color that lasts 1-4 years and be then, it's probably out of style and they are ready for something new.
2- Like seasonal clothes, I buy outfits/tops that I know will only last 1-2 seasons...these are just fun, seasonal colors and should be sold that way. Spice up your cosmetic staples with a splash of color and fun.
3- Ltd items gives a quarterly reason to contact our clients for something new and fun...and limited gives them a sense of urgency.
4- Ltd is a great way for the company to test market a new product option. Lots of Ltd items have come into our product line as a regular item because of popular demand...like the creamy cheek colors.
5- Ltd items is a way to keep you from having to stock thousands of color options. I am always wanting something new and I have one of everything in our product line after 21 years of using MK so the Ltd items keeps me fresh and excited too. So I am a better Consultant.
The other question I get is how to handle inventory...
1- Immediately buy 2 of each item...one to demo and one for YOU! If you are wearing it, they will want it!
2- After your initial week or two, purchase what was ordered by clients and few extras to continue selling.
3- I demo what I have in stock once the item is no longer in the Look Book or out of stock with the company. If I still have, say, the Glimmer Eye Sticks in inventory then I will keep the demos in my Makeover Bags to show and sell. Once I am out of stock then I either give away the demo to a client, my assistant or my daughter.
4- I will often give the past Ltd overstocks as gifts to Hostesses, put in my Goodie Bags for doorprize drawings or put into Gift Baskets that I sell at Christmas, etc.
5- Long past Ltd overstocks go into my Sale Basket of buy one, get one of equal or lesser value free. Incentive for clients to come to me because they get to go through my Sale Basket. I don't take my Sale Basket to appointments.
6- Lastly, if I have an item that just didn't sell...usually because I wasn't fired up about it...then after 2 years, I will donate it to the Women's Shelter, Pregnancy Homes for Teens or other charity and write it off on my taxes.
Thank you Mary Kay for all the good that Limited Edition products does for our business