All You Need To Know About Lowe’s Liquidation Pallets
Buying Lowe’s liquidation pallets can be a great source of low-cost perfectly good merchandise to resell for profit. Here’s what you need to know.
If you run a business specializing in selling home improvement products, you’ll always be on the lookout for a cheap, reliable source of wholesale merchandise to resell that will keep your costs low and your profits high. One of the best sources of this type of merchandise is Lowe’s Hardware liquidation pallets bought from Direct Liquidation.
The Advantages Of Buying Lowe’s Liquidation Pallets
- A reliable source of cheap wholesale merchandise coming from one of the biggest home improvement retailers in the United States.
- A steady supply of Lowe’s products as and when required.
- Pallets bought from Direct Liquidation are sold for considerably less than their overall MSRP value, thus increasing the likelihood of making a decent return on your purchase.
- Contents of Lowe’s pallets can be upscaled to increase their overall value.
- The peace of mind of knowing you’re dealing with a Better Business Bureau-accredited top-tier liquidation specialist with over ten years of experience in the wholesale industry.
What Are Lowe’s Liquidation Pallets?
Like all major retailers, Lowe’s takes back a considerable quantity of customer returns every year. Nowadays, 67% of customers check a company’s returns policy before making a purchase, and 58% are more likely to buy from a company if it operates a hassle-free, ‘no question asked’ returns policy. 79% of customers also expect to be able to return goods for free, without racking up any shipping costs. With customer expectation so high regarding returns, it’s no wonder companies like Lowe’s have made returning goods so easy.
Operating a no-questions-asked returns policy means Lowe’s is just as susceptible to the vagaries of the returns system as any other major retailer, and this results in the same headache companies such as Amazon, Walmart and Target face – an almost continuous stream of returns that must resold quickly and efficiently to ensure valuable warehouse space is not taken up with merchandise the company neither has the space nor the inclination to sell itself. It’s a growing problem for companies. As of 2018, 30% of products bought online were returned, and 8.8% of products bought in store were returned. For a major retailer, that amounts to a huge number of returns that need to be resold.
Lowe’s bundles up its returns into pallets and truckloads and sells them to wholesalers, who in turn sell them to businesses for a considerable discount. By far and away the biggest buyers of Lowe’s liquidation pallets are top-tier liquidators like Direct Liquidation. Why so? Because top-tier liquidators have the warehouse capacity and distribution networks big enough to cope with the largest quantities of pallets and truckloads, which is why a liquidator is always a reseller’s best choice when on the lookout for Lowe’s pallets simply because the choice and variety will be far larger than that a smaller-scale wholesaler can hope to offer.
On Direct Liquidation’s online marketplace, you’ll find a huge range of Lowe’s liquidation pallets, as well as a fair number of truckloads for businesses looking to bulk buy Lowe’s wholesale merchandise. Typically, most Lowe’s pallets Direct Liquidation sells are ‘untouched’. This means that the pallet has not been opened or inspected.
Navigate to Direct Liquidation’s dedicated Lowe’s Hardware landing page and you’ll find liquidation pallets and truckloads. This list is subject to change, so be sure to check back regularly to see what’s new.
You’ll find big name home improvement manufacturers on Direct Liqudiation’s Lowe’s Hardware page; names such as 3M, BOSCH, GE, Ames, Frigidaire, Black & Decker, Kobalt, DeWalt, Honeywell, Whirlpool and many, many more.
Most pallets of Lowe’s liquated stock are categorized as ‘untested’. This means that, while there may be a manifest attached to the pallet telling you what’s in it, the contents won’t be inspected beyond that. In practice, this means that while a lot of the products in each pallet will be sellable right off the bat, other items will either need to be discarded, set aside to be used as spares for future repairs or will need a bit of TLC to get them up to shape before putting them up for sale.
Making The Most Of Your Lowe’s Liquidation Pallet
If you’re to make the most of your pallet’s contents, here are few tips to follow that should see the value of your pallet purchase increase considerably.
Sort and Bundle
If your pallet doesn’t come with a manifest, you’ll need to carefully sort through what you’ve bought to see exactly what is ready to sell, what needs to be set aside and what needs extra attention. Some items naturally go together, so anything that can be bundled together for sale should be as bundles attract customers looking to get multiple items at once for an attractive price.
Refurbish and Repair
Lowe’s sells power tools, which means some pallets of Lowe’s liquidated stock will contain electrical items. If they’re fully working, that’s great news and they can be sold straight away. Other items will need to be repaired either by yourself or a third party if the cost it takes to do so won’t remove any potential to make a profit. If it will cost too much to repair an electrical item, instead of throwing the product away, consider setting it aside for future use as spares to repair other units.
If anything in your pallet is missing any accessories – again, this applies mainly to electricals – make sure to replace them like-for-like if possible. This will increase the product’s value when you put it up for sale.
It seems trivial, but in this day and age, decent quality packaging can actually increase the value of a product. If you can’t get an original piece of packaging in good condition, you should instead replace the packaging with good quality white or brown plain packaging instead.
Inspect and Grade
Finally, make sure to carry out a thorough inspection of the contents of your pallet and grade them where appropriate. Grading usually applies to electricals such as power tools, and can be broken down into grades A, B and C.
When grading your electrical stock, Grade A products will be in perfect condition, will have been brought up to factory spec, will come with all original or replacement accessories, will come with either the original or replacement white of brown packaging and will come with all the original documentation barring the manufacturers’ original warranties.
Grade B products will be as above but will bear superficial damage. Grade C products will be as above but will bear very visible damage. This latter grade will be the least expensive of your electrical products but will appeal to customers on tighter budgets or those who don’t care about scratches, dents and scuffs.
Warranties – It’s very important that you make sure to remove all original warranties from the products you buy from Direct Liquidation as they will not be valid and may lead to customer confusion. If you wish, you can instead offer your own time-specific warranty to give your customers extra peace of mind. Offering warranties on electricals is a good enticement for some customers who would otherwise shy away from purchasing from your business.
Buying pallets of Lowe’s liquidated stock from Direct Liquidation is a great way of ensuring your business has a reliable source of cheap wholesale merchandise as and when your business requires it. By following the above tips and tricks, you should hopefully increase the value of the contents of the Lowe’s pallets you buy from Direct Liquidation and increase the chances of making a profit from your purchases. We’re looking forward to doing business with you.
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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