More and more people are turning to online sales in order to make some extra money on the side in their spare time. Whether this means selling their used stuff or buying wholesale merchandise and selling the products one by one on eBay or Amazon, the number of people taking this step is growing each day.
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If you have experience in selling merchandise online, you will have noticed that with the increasing number of sellers, staying above the competition is becoming more and more difficult. You have to spend more time searching for cheaper wholesalers and more money on advertising your products. All of this is eating away at your already slim profit margin. The competition seems to be so fierce that prices of single items offered on these online marketplaces hover just above the wholesale line.
So how do you tackle this? How do you find quality products to sell at competitive prices in order to keep your customers satisfied, and still make a profit that will make your effort worth it?
If you’d like to stay in that traditional line of doing business, you’d probably enter negotiations with your wholesaler to work out better terms. You might even look around and form a sort of a network of wholesalers you work with to capitalize on price difference and to pick only the best offers. But even the best group of wholesalers and great deals are currently barely keeping you afloat, so what do you do?
While searching for merchandise, you might have heard of liquidation auctions, or liquidation companies and their offering and turned away thinking that only low-quality merchandise is being offered. However, you should have looked closer, because liquidation merchandise is something that could keep you above the competition and help you grow your online sales business.
The number of products sold online in the US alone has already surpassed those bought in the physical stores, with over 220 million buyers option to do their shopping online.
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With the number of people buying online going up, the sales options are increasing. However, with the growing potential customer base, more and more sellers emerge, increasing the competition.
To meet the growing market, you must expand your business, but the usual supply channels can’t meet your demand for new products, and above all quality products at low prices. This is where liquidation auctions can be of great help.
The reason you thought only low-quality merchandise is sold through liquidation companies is the number of refurbished products being offered. However, if you research closer, you will see that liquidators offer at least a 90-day warranty on any refurbished product.
Your research will also help you find a reputable liquidator that offers new products by the pallet. Top liquidators work directly with retailers and manufacturers who liquidate overstock directly through liquidation platforms. Through exclusive contracts, liquidators demand that products sold at liquidation auctions fulfill a certain quality standard, which is usually set very high.
One such company is Direct Liquidation, a top liquidator that has lined up a number of impressive retailers as its partners. The likes of Walmart and Target are using Direct Liquidation’s online platform to liquidate their merchandise faster and direct to the end customers. By doing this, they avoid the middlemen and wholesalers who usually snap up all the merchandise and sell it on with a markup.
With their names on the line, neither Walmart or Target would sell scrap products. Although you may find pallets of Walmart or Target merchandised advertised for sale as is, the risk of buying a bad pallet is lower than it would have been anywhere else. In addition, the ‘as is’ merchandise has not been cherry picked by the liquidator, meaning you could recover your investment with a couple of items that might have been returned unopened, making the risk worth it.
In addition, working with top-tier liquidators and retailers that use Direct Liquidation as their platform provides you with another level of security. You are always provided with a packing list or a manifest, as it is known. This is a list of merchandise contained in any pallet or a lot, showing the type, the quantity and if the merchandise has been reviewed, the quality of merchandise. This means you will always know what sort of merchandise you are buying, allowing you to purchase only the products your customers demand.
But liquidators ensuring that you can get your hands on quality merchandise is not the only way you can benefit from liquidation companies. There is a major, and probably the most important factor: the price.
As we have seen, over the years, market players have brought the prices of single products very close to wholesale with most operating on a very slim profit margin. Buying wholesale through liquidation companies enables you to secure merchandise at prices well below wholesale. This will give you the advantage of a larger profit margin and market competitiveness.
As mentioned above, liquidating merchandise through a platform such as Direct Liquidation allows the retailers to reach buyers directly keeping the wholesaler’s markup out of the equation, keeping the prices low, resulting in a wider profit margin.
So, ditch your traditional suppliers and find a quality liquidation auction.
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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