Clearance definitions
| Word backwards | ecnaraelc |
|---|---|
| Part of speech | Clearance is a noun. |
| Syllabic division | clear-ance |
| Plural | The plural form of the word "clearance" is "clearances." |
| Total letters | 9 |
| Vogais (2) | e,a |
| Consonants (4) | c,l,r,n |
Understanding Clearance in Retail
Clearance sales are a common strategy used by retailers to get rid of excess inventory. This typically involves discounting products to encourage customers to make a purchase. The goal of a clearance sale is to free up space in the store for new merchandise and generate revenue from items that would otherwise sit unsold.
Types of Clearance
There are different types of clearance sales, including seasonal clearance, overstock clearance, and discontinued clearance. Seasonal clearance sales occur at the end of a season to make room for new inventory. Overstock clearance sales involve selling excess inventory that has not been selling well. Discontinued clearance sales are used to get rid of products that are being discontinued by the retailer.
The Benefits of Clearance
Clearance sales can benefit both retailers and customers. For retailers, clearance sales help to free up valuable shelf space and can generate revenue from slow-moving or outdated inventory. Customers benefit from clearance sales by getting discounted prices on products they may not have been able to afford at full price.
Challenges of Clearance
While clearance sales can be beneficial, there are also challenges associated with them. For retailers, discounting products too heavily can eat into profit margins. It can also devalue the brand if clearance sales are too frequent. Customers may also be hesitant to purchase clearance items if they perceive them as lower quality or less desirable.
Strategies for Successful Clearance
To overcome the challenges of clearance sales, retailers can implement strategies such as setting clear objectives for the clearance sale, properly pricing products to maintain profit margins, and effectively marketing the sale to attract customers. By carefully planning and executing clearance sales, retailers can maximize the benefits while minimizing the drawbacks.
Clearance Examples
- The store was having a clearance sale on winter coats.
- The pilot received clearance to take off from the control tower.
- I need to obtain security clearance to access the classified documents.
- After the storm, the road crew worked to provide clearance for traffic to pass through.
- The athlete successfully cleared the high jump bar on her first attempt.
- I found a great deal on a designer purse at the clearance section of the store.
- The mechanic checked the airplane's clearance before it taxied to the runway.
- The restaurant manager needed clearance from the health department to reopen after renovations.
- The police officer asked for clearance to engage in a high-speed chase.
- The newly-hired employee was granted security clearance after passing a background check.