Looking for Cheaper Stock for Your Small Business? Try Surplus Pallets
Being competitive is the name of the game, if you intend to stay in it and play for a little longer. Having the right merchandise certainly is key, but having it at the right price is probably even more important. It makes no sense to buy the right merchandise at prices that don’t leave you much room for profit. Buying from wholesale suppliers is becoming a hassle, not because of the low quality, but because of the price, which does not leave much profit margin to play with.
So, in your search for new sources, you started looking at surplus merchandise sold by retailers and through liquidation websites. This is something you wouldn’t normally do but surplus inventory is becoming popular among your competitors, and now you want in. The issue is, where and how to buy surplus pallets?
Purchasing items through liquidation platforms has become more and more popular with people who buy in bulk for resale. Unlike wholesale suppliers, liquidation companies offer sorted products at prices below wholesale. If you are starting your own online sales business, buying surplus pallets of merchandise through liquidation platforms should be the way to go.
However, there are things you must know before plunging into the world of buying and selling wholesale merchandise online, things that will give you a bigger chance of success. These include understanding what surplus inventory is and why buying through liquidation platforms would benefit your business.
Why Liquidation Platforms?
The reasons are plenty, but to start with, the most important is the price. Liquidation platforms offer the cheapest merchandise with the highest quality, which is something every online reseller is looking for.
The prices start very low because the top-tier liquidation companies have been recognized by the top retailers as a reliable service provider enabling them to liquidate surplus pallets of merchandise at a faster pace and to a wider online audience. Top retailers prefer working with liquidations companies to working with local wholesale suppliers that turn up with their trucks to stock up their inventory.
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However, make sure you do your research and check the wholesale and retail prices of the merchandise you are interested in because that will help you set your bidding limit and ensure you are leaving yourself enough profit margin.
Another reason to buy pallets of surplus inventory through online liquidation sites is the fact that you are buying from the comfort of your home. However, in order to take full advantage of the option, you must make sure you are working with a reputable liquidation auction company. This will ensure you are getting top quality merchandise and also top quality service.
Many reputable liquidation auction companies will have a number of locations placed strategically across the nation, ensuring you are paying reasonable delivery fees, and that you are also receiving the purchased merchandise very quickly.
You can take further benefit from this if you can find the required merchandise at distribution centers near you. Maybe you are interested in Walmart liquidation merchandise and you happen to live near a Walmart distribution center, you may be able to find products that ship from this distribution center and go pick the up yourself, completely eliminating the delivery costs.
What to Buy from Liquidation Auctions?
This depends on the market you are looking to tap into. To give yourself the best chance for success, especially if you are just starting your online sales business, you must find a niche market that is undersupplied. Finding such a niche market will give you the opportunity to fill a market with high demand for a certain product. It will also bring less competition from other sellers.
Choosing the niche market to supply is usually half the job. In order to find the one that fits you, you should make a list of products or groups of products you’d be comfortable dealing with. Once you have the list completed, find a market that has a high demand for products you are interested in offering. Once you match the two, it is time to purchase merchandise through a liquidation auction.
There are several benefits of setting up the business in an undersupplied market. The demand for a certain product outweighs the supply, which means the downward pressure on the prices is basically non-existent. Besides this, you are able to learn the ways of running a company in a smaller, less stressful environment, at a slower pace. You’d also be able to build a reputation, given you provide top quality products and services, and a customer base that would follow you into any market you decide to expand into.
The Quality of Surplus Pallets
With the fact that 30 percent of merchandise sold online gets returned by the buyers, you might be thinking that liquidation platforms are not the right source, because many of the lots are likely to be customer returns and refurbished items being auctioned off. That may be true, but it is also true that buying Amazon return pallets that will not only bring you value, but quality as well.
You have to understand that items get returned for a variety of reasons and more often than not, they get returned with packages unopened, meaning you are buying a new product. The only reason these products are not sold as new is because legally they are now considered b stock and surplus inventory and have to be liquidated. Retailers set up dedicated liquidation departments that receive the returns, review it, refurbish them if needed and pack it up for resale.
Besides customer returners, you can buy pallets of shelf pulls, items that were displayed in the store but were not sold in time, and in order to clear up space for new collections, retailers liquidate these items. You may also find overstock pallets of merchandise. This is the merchandise that was never even displayed in the store but was kept in the storage space. Both these types of products are basically new, and surplus inventory that can bring your business to a new level. In addition, the exclusive contracts don’t only ensure lower prices but also that the products offered at liquidation auctions are top-tier products.
What is left for you to do is head to a liquidation auction website and get your hands on some wholesale pallets of merchandise to resell.
Direct Liquidation is a goTRG company.
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.
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