We’ve all been there after the holidays, staring at a fridge full of leftovers, wondering how many turkey sandwiches one can possibly eat. We know you’ll find creative ways to reinvent holiday leftovers at home, but are you doing the same with that seasonal inventory? Instead of letting excess products gather dust like forgotten cranberry sauce, turn them into opportunities for growth. Let’s dive into how you can make the most out of this surplus for your business.

Reasons Your Business Might Have Surplus

Surplus happens, and it’s more common than you might think. Maybe you overestimated customer demand, resulting in extra products that aren’t selling as fast as you’d hoped. Seasonal changes may have left you with items as out of place as eggnog in July. External factors like market shifts or unexpected events can disrupt your sales projections, too. Whatever the case, understanding why and how you have surplus in the first place is the first step in turning it into something positive.

What To Do With This Year’s Extras

First things first: know what you have. Thoroughly look through your inventory, materials, and even intangible assets like online content. Look for items that haven’t moved in months or equipment that’s just taking up space. You want to spot what could potentially rework itself back into your business, even if it’s in a different way than you’d expect.

In the case of Too Good To Go, for example, they identified surplus food as an untapped resource (and a massive issue for the global economy). Restaurants were throwing away literal tons of food that customers would be happy to buy at a discount. Pinpointing this specific surplus allowed them to develop a strategy that turned into $162 million in just one year.

2. Explore Creative Ways to Use Your Inventory

Once you’ve identified your surplus, it’s time to get creative. Think of it like making a delicious casserole out of those holiday leftovers. Could you bundle slow-moving items with best-sellers to create attractive deals? Maybe those leftover materials could become a limited-edition offering or a package deal.

Too Good To Go turned surplus food into “surprise bags” that customers can purchase at a discounted rate. People love the thrill of discovering what’s inside, almost like a game. This not only helps businesses reduce waste but attracts bargain-hunting (and food loving) customers.

3. Create a Plan to Repurpose Your Surplus

Now that you have ideas, make a plan. Set clear goals like reducing storage costs or increasing sales of certain items. Assign tasks to your team and set timelines. For instance, decide to launch a clearance sale next month or develop a new product using the surplus materials within the quarter. A solid plan keeps everyone on the same page and increases your chances of success.

Too Good To Go expanded strategically, starting with restaurants and then moving into bakeries and supermarkets. They planned their growth to maximize impact, helping more businesses manage surplus while growing their own user base.

4. Strategies to Use Excess Surplus

Putting your plan into action requires the right strategies:

• Bundle Deals. Combine surplus items with popular products. Customers get more value, and you move products that were gathering dust.
• Highlight on Your Website. Feature surplus items prominently. Use banners or a dedicated “Last Chance” section to draw attention.
• Freebies and Promotions. Offer surplus items as freebies with purchases over a certain amount. Customers love bonuses, and it helps clear out stock.
• Donate to Charity. If selling isn’t feasible, consider donating surplus items. This can free up space and provide some tax benefits for you.

Too Good To Go’s entire model revolves around these strategies. Discounting surplus food allows them to help businesses cut losses and draw in new customers who could turn into regulars.

How to Market Your New Ventures

Marketing surplus effectively is what will boost your success. To spread the word about your deals, start by updating your marketing materials to introduce your new offers, using visuals (videos are most effective) and simple language to grab attention. Using social media to promote your surplus deals authentically and genuinely will draw others into what you’re offering. Tell them why you first created the product, or how you personally use it on a daily basis. 

Email campaigns are a powerful way to nurture loyal customers who already love your brand. Share your latest deals with your subscribers, even if your list is small! Need help growing your email list? Check out our tips here. Blog posts or articles via content marketing about your surplus items will also let customers know why they should be excited. People digest content in different formats. Give them what they came for.

Too Good To Go uses its platform to connect businesses with customers who are eager to save money and reduce waste. Their marketing focuses on the dual benefit of getting a good deal and doing good for the environment.

Another Way To Look At Surplus

This is how surplus doesn’t have to be a burden. It can actually be the start of something new. Just like turning holiday leftovers into a delicious new meal, you can reinvent your surplus to benefit your business. No need to fret over the fruitcake nobody wanted. Put what you’ve got to good use and watch your business thrive, because even leftovers deserve a second chance.

If you’ve ready to redefine your marketing strategy for the season, or if you need help dealing with the excess, we’ve got you covered. Just fill out the form below and we’ll get back to you soon!