How to Buy Refurbished Laptops Wholesale Online
Buying wholesale refurbished laptops is a great way of stocking up on cheap, desirable hardware for a fraction of the cost of new laptops. For resellers specializing in selling wholesale electronics, refurbished laptops are an attractive alternative for customers looking for good quality hardware, but who don’t want to spend a small fortune for the privilege.
The market for refurbished consumer electronics in 2018 was estimated at $10 billion. Computers and laptops take up a large portion of the estimated market share. For an online resale business owner, those are encouraging figures. The same way consumers are looking to purchase refurbished units not to break the bank, resellers are looking to stock up as cheaply as possible while securing a potential profit margin that will bring a healthy return on investment.
The article you are about to read will look into the market of refurbished laptops and the ways you as a reseller can buy units in bulk at prices below wholesale.
The Advantages Of Buying Refurbished Laptops
- Refurbished laptops have been thoroughly tested and brought back up to factory spec.
- Refurbished laptops come with all original accessories or like-for-like replacements.
- Refurbished laptops come in either original packaging or plain, good-quality replacement packaging.
- Refurbished laptops are considerably cheaper to buy, meaning they can be sold at an attractive price to customers who are looking for good-quality tech that won’t break the bank.
- Refurbished laptops come with a warranty for added peace of mind.
The Refurbished Laptop Market In The United States
The refurbished laptop market is growing for several reasons. Increasing numbers of customers are buying refurbished laptops for financial reasons as a laptop returned to factory spec is far cheaper than the often eye-watering sums a new laptop can cost. Another reason customers are turning to refurbished laptops is a growing awareness of the environmental impact of consumer electronics. Recycling is becoming more and more popular, and in many customers’ minds, a refurbished laptop is a recycled laptop, and is therefore far more eco-friendly.
The personal consumer share of the refurbished laptop market in the United States is expected to be valued at an astonishing $1.3 billion by 2027. Adding refurbished computers in for good measure, you will find that the market is expected to grow at an annual rate of 11 percent between 2019 and 2027. The refurbished computers and laptops market is set to grow from $2.1 billion to $4.9 billion.
With so many people looking to buy refurbished over new, it’s therefore vital that resellers of consumer electronics find a reliable source of wholesale refurbished laptops if they’re to take advantage of this growing market.
It is worth adding that the technology development is astonishing. A laptop or a computer that was on the cutting edge today may already be outdated three months down the line. For light users that are not looking for spec-heavy units, refurbished laptops are a great choice. Such laptops can still perform everyday tasks like browsing the internet and reading and answering emails.
Where Do Refurbished Laptops Come From?
There are many sources of refurbished laptops. One source is from the manufacturers themselves. Typically, the failure rate of brand-new Apple laptops runs at about 7-9% per year, while Microsoft laptops have a failure rate of about 15%. These machines are returned to the manufacturers who test them, repair them and then offer them for resale either through their own outlets or through approved third-party sellers.
Another source of refurbished laptops is businesses. Businesses of a certain size tend to buy technology in bulk and replace it in bulk on a fairly regular basis. As a result, laptops that are nowhere near the end of their natural lives are sold off to companies who refurbish them back to factory spec and sell them on to resellers.
Liquidators are also a good source when looking for refurbished laptops. Top-tier liquidators, and we at Direct Liquidation can proudly say we are among those, tend to sell refurbished customer returns brought back to national retailers such as Walmart and Target. These retailers have an enormous merchandise throughput. Online sales are growing each year. In 2018 alone, an estimated 1.8 billion people bought merchandise online, with sales hitting $2.8 trillion. It is expected that by 2021 this figure will reach some $4.8 trillion. Bearing in mind that the return rate for online purchases is at 30 percent, there is significant value in the customer returned, refurbished market.
As already touched upon above, not all new laptops work straight out of the box, and the 7-15% failure rate across the industry means national retailers regularly take back faulty laptops from customers. Being retailers rather than repair shops or secondary sellers, they tend to pass on the laptops for a very cheap price to liquidators who refurbish the products back to factory spec and then sell them on to resellers. This makes wholesalers – in particular top-tier liquidators – one of the cheapest sources of refurbished wholesale laptops.
The added value for you as a reseller is the nature of the sale. Retailers are looking to resell customer returns quickly and deal with companies like Direct Liquidation due to our ability to handle large loads of merchandise. This means also that the merchandise is sold way below wholesale price, which provides you with the opportunity to secure a higher profit margin and stay competitive in the market.
What To Look Out For When Buying Refurbished Laptops
When buying wholesale laptops online, there are few things you’ll have to look out for. First of all, when looking for a reliable source of good quality refurbished laptops, make sure they actually are refurbished. There is a big difference between refurbished and used. Refurbished laptops have been fully tested for loose connections and damaged components such as graphics cards and RAM. If any faults are found the components and connections have been replaced or repaired. The battery power, screen quality, hard drive, optical drive and power supply will have also been tested and the units have been brought back to factory specifications, including a thorough sanitization process and repair of cosmetic damage. If these things have not been done, the unit is in fact used, not refurbished.
Finally, always check that the laptops you buy come with some form of guarantee or warranty. If you’re sourcing laptops from a liquidator, for example, with Direct Liquidation, you get a 90-day warranty. This adds extra peace of mind as laptops can be independently tested before being offered for sale to your customers, and any that turn out to be faulty can be returned to the wholesale supplier for a refund.
The importance of buying properly refurbished computers and laptops can’t be stressed enough, not only for the end users but for you as a reseller. Happy customers are the best commercial for your business. In fact, 81% of those that have purchased refurbished products are likely to recommend such products to their friends and family.
Choosing The Right Wholesale Supplier
When deciding on which type of wholesale supplier you should purchase refurbished laptops from, you should bear in mind a number of factors. While it may be tempting to source laptops from an online refurbisher, this is not the most cost effective way of stocking up.
You should instead check the supplier is Better Business Bureau accredited and is long-established in the industry. The supplier should offer an unequivocal guarantee that all of the refurbished laptops they sell are refurbished to the manufacturer’s standards, and that warranties are offered on all refurbished products. Direct Liquidation ticks all these boxes.
Finally, make sure the company you choose can supply your business in bulk. Many online refurbishers cannot supply laptops in the numbers required. For businesses looking to buy wholesale laptops in bulk, you should instead look to source from a large wholesale supplier, such as a top-tier liquidator, and we are able to provide exactly that, from pallets to truckloads of merchandise.
The easiest way to tell whether a liquidator is the real deal or not is to go through customer reviews. A happy customer is a returning customer. And happy customers will leave positive reviews.
In addition, each top-tier liquidator provides a manifest with each sorted pallet or truckload of merchandise they sell. These are essentially packing lists showing the type, the quantity and the condition of the units within the pallet. This means that you will know exactly what sort of refurbished products you are purchasing. If a manifest is nowhere to be seen, this is a sign that you should stay away from that seller.
Jordan currently works as a sales representative for Direct Liquidation, assisting businesses with product sourcing of liquidated merchandise from the largest retailers in the world. Whether you are looking for a pallet or a truckload Jordan is here to help you grow your business.
View Jordan’s Bio on YouTube.