Finding a reliable source of merchandise that can increase revenue streams is a vital part of any retailer’s business. There was a time when most retailers relied on small-scale, local wholesalers and liquidators to supply their businesses with stock. But as wholesale prices have veered ever closer to retail prices, for many small businesses this is no longer a viable option.
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Thankfully, there’s a simple solution for retailers looking for a cheaper, more reliable source of great-quality merchandise – customer returned liquidated products. Let’s take a look at what they are, and how reselling them can be very profitable indeed.
Every year, big national retailers such as Lowe’s Hardware and Target take back thousands of returns for a number of reasons. These range from the products not working to customers changing their minds about their purchases. No longer able to classify this stock as new – despite quite a lot of it is exactly that – the big-name retailers look to offload it as fast as possible so it does not take up valuable store or warehouse space.
Willing to take a considerable hit on the price they get for these returns, the big national retailers sell it at a considerable discount to retailers with a valid resale license via an online liquidation marketplace. An online liquidation marketplace is a live auction website operated by a top-tier liquidator. Liquidators of a certain size and trusted reputation work directly with big-name retailers, offering them landing spaces on their online liquidation sales marketplaces through which they can sell pallets or truckloads of customer returned liquidated products.
Because the big-name retailers wish to dispose of this type of merchandise as fast as they can, they’re willing to let their returns go for considerably less than their total value. So, unlike a traditional wholesaler, who will not only charge a premium on the wholesale merchandise they sell, but may also cherry-pick pallets, creaming off the best stuff to sell for a higher value later on, top-tier liquidators offer pallets of returns coming direct from retailers with nothing good removed and sold at a much lower price.
And because the pallets and truckloads of returns liquidators sell on behalf of companies such as Walmart and Amazon come from some of the biggest names in US retail, they contain not generic junk, but products manufactured by some of the biggest names in the world – names such as Sony, Samsung, Apple, LEGO, Fisher Price and HP.
National retailer customer returned products can be bought from online liquidation marketplaces. If you’re on the lookout for returns from Amazon, Target, Walmart and Lowe’s, for example, you’ll find a huge range available to buy via Direct Liquidation’s website.
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Customer returns can be bought in pallets or truckloads via live liquidation auctions. These take place on a daily basis. To buy pallets or truckloads from an online liquidation marketplace, you’ll first need to set up a free account. This will require you to produce a valid reseller’s license. Once you do, you’re free to browse what the marketplace has to offer, identify the stock you need for your business and then enter bids on it when it comes up for auction. It’s that simple.
You also usually have the option to buy pallets or truckloads of returns at a fixed or negotiated price. If this is your preferred method of buying merchandise wholesale, don’t worry. You’ll still be able to buy all the top-quality customer returns an online liquidation marketplace has to offer at a cost that is way below the merchandise’s MSRP value. There will still be plenty of opportunity to make a healthy profit buying returns this way.
Making a profit on the customer returned products you buy via an online liquidation sales marketplace is, of course, made considerably easier by the fact the goods are not only top quality, but also considerably cheaper to purchase. This means you can offer the returned products you source from liquidators to your customers and potential customers at very attractive prices while still leaving plenty of room left over to make money.
However, that’s not the only way you can maximize your profits. For example, it’s worth checking out what some of the store-hosting websites have to offer. We’ve all heard of the big guns such as eBay and Amazon who offer very attractive packages through which you can sell on their websites. But there is a wealth of other store hosting sites such as Shopify, BigCommerce and Weebly that are also worth checking out. Many of these sites offer free trials, so you can test if they’re right for your business before you commit financially.
With growing customer bases (especially in the case of Shopify), keeping to just the big sites such as eBay may not be in your business’s best interests. So it’s worth looking around and doing some research. After all, the wider you spread your net, the more customers you can potentially attract, and that could well translate into more sales and more profits.
Also, don’t forget social media. Not just a place where people can look at pictures of cats and argue about politics, social media is a vital marketing tool for any retail business. With attractively cheap advertising plans, Facebook, for example, can specifically target customers looking for the goods you sell. So it’s well worth setting up a business page to reach many more potential customers than you would by simply having a store on Amazon.
Social media has provided businesses with a great new way of reaching out to customers. No business should dismiss sites like Twitter, Instagram and Facebook out of hand. Canny use of these sites could boost profits considerably, so get tweeting!
Reselling customer returned liquidated products can be a very profitable enterprise if you buy wholesale from the right liquidator, set up shop in the right place and reach out to the right customers. If you want to take advantage of the benefits a liquidator can bring to your business, check out an online liquidation marketplace today.
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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