Finding Surplus Inventory Online for Resale
Whether you are running a retail business or reselling wholesale merchandise online, having a reliable source for your merchandise is crucial. Whether you are just starting your business or looking to keep the existing one running, finding the right suppliers to stock up your online store is the next very important step, after deciding what products you are going to sell.
In the sea of potential sources, you have to choose the ones that suit you. You will have to consider quality, price, availability and sometimes the geographical proximity. Retail is out of the question, since the online marketplace is so competitive that prices of single items are closer to wholesale than retail. This means your business would not be able to survive in such an environment.
The way to go is wholesale. The best options to buy in bulk for resale, but, there are several options here as well so let us look at what sources and options are there, and where to find the products you need.
Some Research is Always Good
In the United States alone, the wholesale industry includes around 400,000 business establishments that rack up combined annual sales of over $8 trillion. This means that there is plenty of supply and it is only a matter of finding the source that suits you best.
Your next step is then easier, but before you go on the lookout for the supplier that suits you, do some competition research. Find online seller or retail stores that have a similar offering of products you are looking to sell.
Another way to scout the competition is by visiting trade shows where the majority of suppliers gather. You might even be able to close a deal with a wholesale supplier at more favorable terms.
In addition, once your business is up and running, it is not unusual for the wholesale suppliers to start offering you their products themselves. Additionally, once you establish a business relationship with wholesale suppliers, especially if you manage to build a network of these suppliers, you will be able to pick and choose the best offers you get.
But we mentioned that there are a number of options out there. So which ones are those and what do they offer?
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What Wholesale Suppliers are There?
The cheapest source would be to buy merchandise directly from the manufacturers. However, if you are only starting and looking to run a small business, this might not be the right option for you since manufacturers usually have a substantial minimum order in place which might be out of your reach.
However, if you can’t buy the products you can ask for the list of distributors these manufacturers work with to locate the products you are looking for easily. Distributors will usually buy large quantities of products from the manufacturers, mark them up slightly and sell them on in smaller wholesale lots to the retailers.
There are also wholesale suppliers or wholesale liquidators that buy and sell truckloads of merchandise. However, you need to understand that wholesalers and liquidators might sell refurbished or even damaged goods, and very often the wholesale pallets they sell contain a wide range of products that you might not be interested in.
But the thing is, while distributors offer brand new merchandise, the pricing might not allow you to stay on top of the competition. Wholesalers are the traditional option but recently the margin you get by sourcing products through this channel is not really enough. However, there is another type of wholesale suppliers, or better said, liquidators that provide you with an advantage.
Liquidators deal with surplus merchandise for the most part, and this includes customer returns, overstock pallets, shelf pulls and b stock and even merchandise that is being cleared out of business offices after a company has closed down or relocated.
Now, in terms of retailers, you may find that many of them have their dedicated liquidation departments. So you can find a Walmart liquidation department and you will also see that these top tier liquidators use liquidation auction sites to speed up the process and get to a wider audience online.
Making the Choice
When it comes to actually making the choice of which source to use there are certain clues and cues to follow.
What you are looking for ultimately is a platform with a good reputation, and that can deliver the highest quality products for the lowest prices, on time, anytime and while providing great customer service.
Another factor to consider is the proximity of the liquidator to your location because that significantly affects the costs of delivery.
What you have to realize is the fact that the search can last a while. But in the end, it will be worth it because the right liquidation platform will make your business a whole lot easier to run.
“Why is that?”, you may ask. Well, first of all, reputable liquidation platforms work with A list retailers that are looking to get rid of their surplus merchandise. While the majority of this merchandise is customer returns and used goods, you can still find brand new products. That’s what overstock pallets are, after all.
Additionally, no matter what type of product you are looking to buy, these are sold at prices below wholesale, because you are avoiding the wholesale supplier and buying surplus merchandise directly from the retailers.
Also, you are able to choose the location where you’d like to buy merchandise from. This is due to the fact that liquidators and retailers have a vast network of distribution centers they ship the goods from. You can often even go and pick the products yourself, eliminating the delivery costs completely.
And if you are concerned about a mixed pallet of products, there is always the option to examine the manifest. This is a packing list that shows you everything you need to know about the merchandise in the pallet: that it is, short descriptions, type, quantity and quality. So, if you are looking to buy surplus merchandise online, find the right liquidation site and enjoy.
Direct Liquidation is a goTRG company.
Diego works as a sales representative for Direct Liquidation helping businesses to source liquidation inventory from the world’s top retailers and manufacturers. Diego works with single pallet, LTL and truckload buyers directly to ensure they stay in stock with high quality inventory year round.
Schedule a sales callback with Diego right now and find out how he can help your business profit with liquidation merchandise.