With the need to solve the age-old problem of ‘deadstock’ or unsold commodities for companies that deal in products with limited shelf life, entrepreneurs Vaibhav Sethi and Anubhav Sethi came up with this outstanding idea of creating an online platform called Hotshelf. Here organisations can meet potential buyers and clear off their excess stocks that unnecessarily occupy precious space at warehouses.
Deadstock merchandise, such as toiletries, packed foods, beverages and other consumer goods, especially over-the-counter drugs or medicines, are significant cash-flow killers that, at times, have even compelled organisations to shut down businesses. Besides, the evil of deadstock has serious negative effects on our already deteriorating environment. Therefore, it is important for companies to pay attention to this serious issue for a sustainable and thriving future.
Although there are ways to curb the situation of non-moving inventory and create ways to sell off these unsold goods, but the possibility of losses are always high. Over the years, organisations have been trying to find an absolute cure to this issue, but the success rate is too little to even worth mentioning. So, Hotshelf is here to help businesses overcome this hurdle.
While helping businesses and individuals with financial gain, Hotshelf is helping businesses add life to their deadstock by enabling buyers to get a good bargain over choice of products, too. Along with that, organisations are also contributing towards saving the environment from further damage, because dead stock when disposed turns into environmental pollutant.
Since its inception, the company has earned the reputation of being a game changer among the business fraternity and received numerous accolades from industry experts for revolutionising the concept of deadstock. Launched in 2017 in Mohali, Punjab, Hotshelf has created numerous opportunities for business owners to recover a substantial amount of investment by clearing the excess stocks, lying under dust on warehouse shelves. At present, the company is only into the healthcare sector, but is hoping to expand its horizon to other industries, too. A torchbearer for companies to clear the stock before they become obsolete (cross expiry date), Hotshelf is gaining the right momentum in the market which indicates the company’s clear intention about its future expansion plans.
How Hotshelf was created
- Being aware of ill-effects of excess inventory
- Research and brainstorming
- Idea of bringing deadstock to life
Pollution is a hazard and is one of the main causes of death among all health risks. Studies reveal that in India one among every eight deaths is due to air pollution, which is much higher than deaths caused due to smoking. Carbon emission by industries is a prime factor fuelling the rise of air pollution and dumping or burning of deadstock add more to it. The emergence of Hotshelf has helped a lot in reducing this hazard to a great extent.
A new way
Looking at the present scenario, it is quite evident that Hotshelf is soon going to become a saviour of all those industries facing the deadstock issue. So, it can well be said that Hotshelf is here to turn things around for companies dealing with this massive problem for years.
Hotshelf is an online marketplace that allows business owners from distant parts of the world list their non-moving inventory, or ‘deadstock’, for potential buyers and convert this deadstock into cash. With an experience of over 20 years in the distribution business as a promoter, the founder duo’s start-up platform deals with deadstock going to waste.