A Guide on Getting the Best Refurbishes in the Industry

Refurbished items are one of the best additions to your liquidation store’s inventory. While some have defects, there’s always a chance that you’ll get your hands on something that’s just a little less than perfect. After all, not all refurbished items are bad.

Why Refurbished Goods Exist

Most liquidation store owners shy away from refurbished goods, deeming them useless before even checking out what’s on offer. If you’re one of the buyers who have avoided refurbished goods for a while, you need to understand that they exist for different purposes aside from making money and protecting the manufacturer’s overhead.

One of the biggest and most obvious reasons is protecting the environment. Considering the cost of recycling defective products or the cost of buying new ones, it’s only logical to recall defective products and get them back into perfect working condition. Rather than dumping defective products into landfills, it makes sense to get them back into a usable condition.

Refurbishing 101

If you’re new to the liquidation business, you probably have a few misconceptions about refurbished items. Therefore, before proceeding to explain which the best refurbishers in the market are, let’s get one thing straight: there are different types of refurbished items out there.

  • Damaged – A simple scratch or even a dent can lead to an item being returned to the seller to later be resold as a refurbished item.

  • Display Units for Demonstration – Units available at shops and stores for demonstrations for product reviewers can be packaged later on as a refurbished commodity.

  • Defects – Any defects that originate during the production phase can be fixed by the manufacturer later on to make it available for sale again.

  • Open Box – An item can be branded as refurbished if the box was tampered with or its seal was removed.

Now that this matter is out of the way, you need to know a number of factors when dealing in liquidation goods, including strategies and risks that have to be taken into account.

Resellers have to be cautious and capable of spotting good liquidation merchandise. After all, the quality of these goods isn’t constant and will vary from item to item. To maximize profits and keep costs at a minimum, these goods are valuable to any reseller. Considering that the stock is in good condition and perfect for use, the reseller can sell them on for a reasonably lower price than that of the market, thus attracting more customers.

Is Buying Refurbished Goods a Good Idea?

In times of recession, people try their best to get the products they desire at the lowest possible price. For tech savvy consumers who like to stay up-to-date with the latest gadgets, they might find it difficult to keep themselves abreast of the technological advancements due to budget constraints.

Luckily, that’s where refurbished products come to the rescue. The question that matters most is whether or not it is such a good idea to buy refurbished products. The best answer to this question is that it depends on the preference of the buyer. The decision to buy refurbished products depends on a variety of factors that vary from buyer to buyer.

For instance, some may get such items to save money. On the other hand, some go ahead and buy them because they are ‘just as good as new’ but cheaper because they are unboxed. As long as the product is functioning and is not damaged, rest assured that it will provide value for money.

Secondly, when buying such a product, you should keep in mind that it may rarely come with a warranty. This is because a majority of refurbished products could be damaged or have manufacturing defects. Even though they may have been repaired, there is no guarantee that they will last long enough.

There is a degree of risk involved. On the other hand, if these products do come with a warranty, the duration can be quite limited to a month, which is nothing when compare to the full year’s warranty that comes with new products. Besides, the warranty, if offered, may be limited to certain types of damages and repairs.

If a customer is purchasing a product from a reliable seller solely based on customer satisfaction, it is a good idea to buy refurbished goods. In such a scenario, your aim should be to provide the best shopping experience. Therefore, this makes you more open to negotiations when it comes to the prices of the goods. Moreover, if you feel that the quality of the goods is not up to the mark, you can return them. These sellers are willing to take them back if the customers are not satisfied.

How good or bad the idea of buying refurbished goods may be depends on the situation the customer faces. Analyzing value based on value-added services or savings is never an easy decision to make. Therefore, there is no hard and fast rule as to whether or not you should buy refurbished goods. The decision should be based on the price as well as the condition of the goods offered for sale.

How to Shop for Refurbished Goods

Shopping for refurbished products isn’t as difficult as you may think; there are various resellers that sell refurbished electronics and goods at unbelievable prices and get big profits in the process. What’s important is that you buy the right products, i.e. highly in demand, durable and of high quality.

Consumers want value for money. Therefore, investing in something that may break down in the near future will make no sense at all, To help you shop for the right refurbished goods, here are some essential tips to consider.

Buy Factory Certified Products

Not all refurbished products are repaired by the manufacturers themselves. There are many third-party depots that repair damaged and defective goods. Buying a factory certified product means that you will get a warranty on it. Apart from that, you can rest assured that the goods are close to the quality they should flaunt to be sold like hotcakes.

Buy Refurbished Products That Come With A Warranty

Most refurbished products come equipped with a 90-day manufacturer’s warranty. So while buying such a product, make sure to get a warranty. Ideally, you should be able to get at least a year’s worth of warranty on your product. This can be rare when buying refurbished goods. Hence, you can ask the reseller if you can get an extended warranty on the product. This guarantees durability and a long useful life, making the products you sell even more tempting.

Ensure that the Product has a Return Policy

In case the product is defective and you aren’t happy with it, you should have the option to return it to the original seller or fellow liquidator. Most products come with a 90-day return period. If you aren’t satisfied with what you got, you can take it back to the reseller. Just make sure that the return policy benefits you in the long run and makes returning the product easy.

Find out About Accessories and Other Details

When you purchase electronics or gadgets, you usually get some accessories with them. In fact, there are some accessories without which the functionality could diminish as well. These are valuable additions for which you might not have to pay anything extra. Therefore, before making a purchase, ensure that your goods come with accessories like chargers, headphones, and batteries. You can check the specifications on the box to ensure that everything is intact or visit the manufacturer’s website on your mobile device.

Ensure Reverse Logistics

People assume that something will go wrong with the refurbished product they purchase not too long after they take it home. To ensure that this doesn’t happen and affect your reputation in the process, it’s important that you deal with products that have been refurbished by the manufacturers themselves. This means that the goods have to be shipped back to their producer, a process known as Reverse Logistics. 

Aside from saving you from unnecessary hassle while dealing with your clients, you’ll be spared from the process of taking apart these products and then reassembling them after repairing the damage or defect. In addition to requiring high expertise, the costs of this process are high as they cover a number of sub-processes and elements like labor, transportation and replacement parts.

Deal with Reputable Brands

It’s important that you purchase refurbished goods from reputable brands as their associated risks are fewer in comparison. For instance, the repairs the manufacturer of Sony would make to one of its refurbished items would actually be better and of high quality in comparison to the refurbishing process of some unknown company. Besides, there’s always the warranty you get with reputable brands and the fact that buyers are more brand conscious.

Consider the Product’s Release Date

When investing in a refurbished product, you need to make sure that the product isn’t outdated. It’ll make no sense if the refurbished product being bought is outdated or isn’t replaceable anymore. After all, such products don’t only lose their value, but they also cease to exist in the market. As a result, they won’t be repairable or maintainable due to the unavailability of expertise and parts.

Get a Product that Uses Generic Parts

If you’re still adamant on getting an outdated product due to its high demand, consider buying those whose parts can be considered generic. It will be a hassle if your buyers are forced to run around for parts to make the product operational again if it breaks down after its warranty is over. Carrying this tip out will help you introduce repair services to ensure higher customer satisfaction.

Think of Secondary Uses for Your Product to Prove its Worth

Before investing in a refurbished product, determine whether it can be of value when it can no longer function the way it should. For instance, if you’re selling an iPad, your buyers can use it for parts later on or come up with creative ideas. Now you need to keep in mind that every person thinks differently, so not everyone will come up with secondary purposes of your products. In this case, you can use your website or online presence to share ideas from different websites or write your own content. This step will show just how dedicated you are to your target market.

Take Hints from the Pricing of Each Product

The price of a product is the biggest factor that determines its quality. If you notice that the lot you’re offered provides its contents at dirt cheap prices, you may want to check out the products first and test their functionality whenever possible. For example, if the price of a refurbished iPad is a ridiculous $50, chances are that the device has been fixed by a separate entity or has been tampered with after the manufacturer refurbished it.

There’s also the possibility that you’re being conned into purchasing a faulty, non-functioning unit rather than a repaired or returned one. So crunch the numbers to assess whether you’re really getting a deal or a lemon.

Conclusion

Now that you’re finally reading this line, you can pat yourself on the back because you’re ready to purchase refurbished goods

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