There are plenty of ways to buy merchandise that you can flip later, resell on a flea market, your store or even online. But no matter what you are buying, it seems that nowadays the margins for profit are slim and barely make your time and effort worth it.
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Some buy and sell merchandise to provide a second stream of income to their household. This means that they don’t dedicate too much time to this. Fair enough, such a business, especially if you are reselling merchandise online, works for you all the time, not only while you are present. But still, this is not bringing the results you hoped it would.
So something needs to change. Your network of wholesalers has been a good source previously, but the prices of single items online are so close to wholesale that there is no more room for discounts, and your profit margin in gone. Or is it? Well, yes if you continue working with the same group of suppliers, no if you turn to liquidation auctions.
As soon as you hear liquidation, you think of used, broken and scrap products. Add to that the hectic environment of an auction and you have a recipe for a tough day in the office. But things are changing and you will find that liquidation auctions are not as bad as they used to be, if you follow along a few simple rules. Yes, you still find the majority of product on offer are customer returns, pallets of used, or not-working merchandise, but there are opportunities in this market you have to take advantage of. So how can it help your business?
First, the prices are way below wholesale. In fact, the prices are so low that even wholesalers now buy from liquidators or retailers who decide to liquidate their overstock and closeout merchandise.
Second, you are buying pallets of merchandise, which means you are getting the product in bulk. This keeps the price low and also keeps you stocked for a longer period of time.
But cheaper isn’t always better and not every liquidation company is the same. This is where the little set of rules comes in.
This is the first step you have to take if you want your experience with a liquidation company to be a good one. Clicking on the first link that pops up in the results of your search is not a smart move. As the business has moved online, options for scammers have also increased. You will find websites that offer great deals but are there one night and gone the other.
Your goal is to find out as much about the company as possible. Read through their history, the information on their website and the services they offer. But most importantly, see who they are associated with and what their customers are saying about them. This will take some time, but go on consumer forums and other similar website and go through comments on other buyers’ experiences with the company. Once you find one that has a good reputation among the customer base, and provides the services and products you require, go ahead and start bidding.
One such company is Direct Liquidation. Direct Liquidation is not only held in high regard among its customers but has also forged relationships with top-tier retailers such as Walmart and Target who use Direct Liquidation as an online platform to liquidate their merchandise quicker.
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But it’s not just the retailers that liquidate their merchandise through Direct Liquidation. You will find that online platforms such as Amazon will also liquidate its merchandise on Direct Liquidation. And these are the products you are targeting.
When you find your company and the products you’d like to bid on, like a few pallets of Amazon return pallets, you must do the math. See what the potential costs would be, not only to purchase the pallet, but also to have it delivered. Compare that to the prices you find online on platforms such as Amazon and see where your profit margin becomes not worth your time. That is the line you can’t cross in terms of budget. Once you know what that line is, you can start bidding. But if the price goes over your budget, stop. Otherwise, you are only running a loss.
Well, a number of factors is at play here. First, Amazon is already a reputable name and company in itself, the products they sell are of respectable quality. However, a number of products get returned for various reasons. Sometimes the buyer changed their mind and returned the product as soon as it arrived, unpacked. Other times you may find the seller shipped the wrong product, or the wrong size, or colour, or the buyer expected the product to be different in real life. These are all the cases of new products being returned.
You will also see people returning the products because these got damaged during transport or they used them for a couple of days and they stopped working. In these cases, retailers will refurbish the product and liquidate it.
Why are new products also liquidated? Well once a product is returned, it has to be liquidated. It can’t go back into the store as new, that is the law. So how do I know I’m buying the returns that are basically brand new, and not broken products?
This is where the reputable liquidator comes in. A reputable liquidator will always offer you a packing list or a manifest, as it is called, that contains information about each pallet. It shows what is inside of the pallet, what type of products, what condition these products are in as well as the quantity of these products.
But keep in mind that sometimes the products are sold ‘as is’ by the liquidator, meaning they are shipped directly from the retailer’s warehouse and have not been reviewed by the liquidator. This can be a risk sometimes. But, often you will find that, as these pallets are not cherry picked by the liquidator, a couple of brand new items in the pallet can pay off the whole investment. So the risk is worth it more often than not.
Direct Liquidation is a goTRG company.
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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.
Schedule a sales callback with Jordan right now or check out his latest liquidation deals.
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