Make Money Online in Your Spare Time Selling On Surplus Inventory

There are a fair amount of ways to create a steady second stream of income without sacrificing too much of your spare time, like investing and trading, but these can be a bit complicated and overwhelming for many people. Buying surplus inventory to sell it on online can be a lot easier, if you take certain hints and tips into consideration.

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The online resale business is booming as more and more people take to the internet to make their purchases. The market is global and there is basically a place in it for every product. That is why it can be such a great opportunity for you.

Surplus inventory is something one should certainly look out for. It is wholesale merchandise that you buy in bulk at reduced prices to resell. You can buy pallets of shelf-pulls or overstock merchandise that is often in brand new condition and simply place it on an ecommerce website or platform.

The listing is made once and the process can be automated with you only needing to dispatch the merchandise before you go to work. This is a type of business that never closes its door. Even when you are asleep, orders can be coming in from every corner of the world.

The fact is, there is only one thing you need to do properly from the start and that is finding a wholesale supplier that will provide you with the merchandise you require. So, here are a few tips to get you on your way to making money by selling surplus inventory.

What is Surplus Inventory?

You can look at surplus inventory in plenty of ways. It can be anything from shelf pulls to customer returns. What makes it surplus is the fact that the retailer is having to get rid of it in order to free up space for new inventory.

The best example of surplus inventory are shelf pulls and overstock items. Sometimes the merchandise does not sell quick enough during a certain season and it is a seasonal item, like summer and winter clothing. Anything that remains on the shelves at the end of a season gets pulled and packed into pallets.

Overstock pallets have a similar story. These are the products that didn’t sell because they never made it to the sotreforn, or the shelves. This is often an error assigned to the management that misjudged the demand for a product and ordered surplus inventory that remained nothing but that, surplus. Pallets of such merchandise remain in the warehouse and are never displayed or sold.

These are the best examples of surplus inventory simply because this sort of merchandise is basically brand new and has a higher appeal for the buyers. This means it can fetch you more on resale.

But these are not the only types of surplus inventory. You will find that retailers have dedicated departments that deal with merchandise returned by the customers. These are called customer returns, and the fact is that around 30 percent of all online sales find their way back to the seller, for one reason or another. Retailers, especially the top-tier ones, have dedicated departments that go over this merchandise, review it, refurbish it if needed, pack it up into new boxes, grade it and pack it up into pallets. This sort of merchandise is bound for liquidation.

Merchandise gets returned for plenty of reasons and in various conditions. Sometimes you can get a malfunctioning product back while other times products return unopened, basically brand new. Even though the product is still in brand new condition, if it has been returned it becomes b stock and has to be liquidated.

Now, at the mention of liquidation, you may be having some doubts because the merchandise that is liquidated is often used, scrap and in bad shape. However, we have mentioned that brand new stuff is sold by retailers by the pallet, and this is essentially liquidation of merchandise. Now, you may be buying Amazon return pallets and not knowing it, because your wholesaler does not tell you the origin of those 30 brand new MP4 players they sold you. All you know is that you paid wholesale price for it and are barely keeping up with the competition.

What you have to do is find a new source. Finding a wholesale supplier that can provide you merchandise at prices that give you the chance to compete in any market is crucial. So let’s see what your actual options are in terms of sourcing.

Finding the Right Source for Your Surplus Inventory

Wholesale companies are the usual go-to for many resellers. But over the recent years, the traditional wholesale method has lost ground on liquidation. While wholesale suppliers focused on providing you pallets of merchandise you needed with their markup added to the sale/purchase value, liquidation companies found a way to attract retailers and customers.

No longer will you be put off by the poor quality of liquidated merchandise. On the contrary, this is the same merchandise you can order from your regular wholesale supplier. It comes from same source, the retailer. Wholesale suppliers usually turn up and snap up surplus inventory that retailers liquidate by the truckload. Smaller buyers can barely compete with this.

In the past, liquidation companies were left to deal with scraps, used and broken merchandise. However, by expanding their operation, liquidation companies have taken leaps forward and introduced liquidation websites that serve as platforms for retailers, such as Walmart or Target to liquidate their merchandise to a global online audience.

This is why you can now find Amazon return pallets liquidated on Direct Liquidation. This allows the retailer to get rid of surplus inventory faster. So, essentially, you should be looking on liquidation platforms for overstock, shelf-pulls, even refurbished merchandise, which can make you a decent profit on resale.

How is Surplus Inventory Beneficial for My Business?

This is simple. Both wholesale suppliers and liquidation companies sell you merchandise in bulk, wholesale. But there is a catch. Wholesale suppliers will add their markup on the merchandise they sell you, cutting into your potential profit margin. Liquidation companies nowadays provide a service that allows the retailers to liquidate their merchandise directly to buyers like you. This drops the price below wholesale, eliminating the wholesalers’ markup. The first benefit is that you are buying it cheaper resulting in a higher profit margin.

The second benefit is that there is no cherry-picking by the liquidation companies. Amazon pallets are shipped from Amazon warehouses and the best items are not taken out of these pallets and sold individually, which can often be the case if you buy through other wholesale suppliers.

Every pallet is accompanied by a manifest which shows what sort of merchandise is in each pallet, with descriptions, grade and quantity you can safely purchase merchandise of higher quality and of type that your customers demand. And with the throughput that the likes of Amazon and Walmart have, you should never worry about not being able to source merchandise, it is only a few clicks away.

Direct Liquidation is a goTRG company.

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