This startup creating a Better World by Bringing Dead Stock to Life
16th, May 2019 - Startup Event
Dead stock, a part of the ghost economy, is considered as a menace in various industries that deal in products. These are the products that are difficult to sell owing to reasons like inferior inventory management, excessive production, poor response from the buyers, changing trends, technological advancement, etc. Whatever be the reason be, they end up getting stuck in your inventory. Dead stocks can cause significant commercial burdens for businesses, as these products have failed to move in the market and do nothing but occupy the precious space that are better occupied by hot-selling ones instead.
The menace of dead stocks is unfortunately not limited to costing businesses but the environment too. Ever wondered where these notorious stocks go after they are dead? They are usually dumped in the earth or burnt unceremoniously, adding to the carbon footprint of the industries. The question that needs immediate attention is:
How can businesses manage or repurpose dead stocks better?
While there are ways to salvage the situation of dead stocks occupying too much space on the shelves and balance sheets of businesses, there’s none that can be identified as a real cure. Except there is one not many know of. Hotshelf, a brainchild of Entrepreneurs Vaibhav Sethi and Anubhav Sethi, is an online platform where businesses can add a new life to their non-moving inventory and connect with the potential buyers. In the process, they’re not only helping businesses by adding purpose to their dead stock, but also empowering the buyers to get a better bargain on various products. Sounds like a win-win situation for all.
Being in the distribution business for the last two decades, the founders of Hotshelf were better equipped in understanding the lost opportunity in the dead stocks situation and came up with this excellent idea to help businesses and individuals. By doing so, they’re also contributing towards a cleaner and safer environment, as dead stocks when discarded turns into environment pollutant. The idea was simple. What is dead to business now, once had a purpose and all it needs is a platform where their audience can reach them. That’s how Hotshelf evolved.
Founded in the year 2017, the company has shown a lot of promise in aiding businesses to get rid of their non-moving inventory and cover up a considerable amount of loss that they’ve been incurring all this while. Ever since its genesis, Hotshelf has garnered accolades from industry experts and businesses for giving dead stocks a chance at seeing the light of the day. Headquartered at Mohali, Punjab, India, Hotshelf currently deals in healthcare products with an aim to spread its wings in other industries. The pace at which the idea and the platform is gaining momentum in the market, it does not seem to be a farfetched dream. The Company’s business expansion plan can consequentially be a boon to many who are burdened with the lost opportunity called dead stocks.
Hotshelf with its disruptive idea aims to benefit businesses in bringing their dead stock to life. As a part of the distribution industry for the last couple of decades, the founders have encountered situations where non-moving inventory has forced businesses to shut down due to huge losses. In order to help those dealing with the inevitable repercussions of obsolete invetory, Hotshelf was launched.
Despite being a brilliant concept, the idea is yet to get a breakthrough across various industries. Either due to a lack of awareness or the fact that business owners chose to look the other way, they fail to realize that they are sitting on a gold mine, waiting to be discovered. That’s when hotshelf steps in and turn things around for businesses in distress.
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