What Are Walmart Liquidations?
If you ever browsed the internet for cheap merchandise and deals, you must have come across liquidated merchandise. Digging a bit further, you have probably seen that liquidated merchandise are usually used products, broken or even products that can only be sold for scrap, hence the low price.
But, if you expanded your search a bit further, you might have found that large national retailers, such as Walmart, have their own liquidation departments. This means they liquidate their own merchandise. This might be worth a look, but before you do, let’s see what liquidations are and why Walmart might liquidate its merchandise.
What is Liquidated Merchandise?
When we are speaking about liquidated merchandise, usually these were the items left behind a company that shut down for whatever reason, and all the remaining inventory went up for liquidation. Office furniture, equipment and all sorts of other office materials. The same happened when a store closed, all the merchandise that remained unsold was liquidated. This basically means it is sold in bulk at significantly cut prices, well below wholesale.
In recent years, e-commerce websites have rapidly grown in popularity with more and more people buying their merchandise online. It is easier, faster and more convenient. But with online purchases come certain issues. You are not able to try out the merchandise you intend to buy, especially if we are talking about clothing items, or shoes. All this is often the reason for the products to be returned. Statistically, over 30 percent of products purchased online get returned to the retailer. The thing that goes in favor of the buyer is the fact that a large portion of retailers, especially the reputable ones such as Walmart have a generous return policies, and money-back guarantees.
And the reasons for the merchandise to be returned go beyond the inability to try something out. You will see products being returned because the retailer shipped the wrong product completely, or the wrong size or colour. Maybe the packaging sustained damage in transport, or even the products itself sustained damage, cosmetic or other that caused it to malfunction. Some buyers use the return policies to full extent because they order, try something out and if it doesn’t fit or they don’t like, it gets returned.
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And when we speak about a company like Walmart, with a huge throughput, you realize that a lot of merchandise gets returned. So what happens with it? It gets liquidated.
Getting Products Ready for Liquidation
Walmart Liquidations is a specific department within the company that deals with the customer returned merchandise. As we said above, there are plenty of reasons for products to be returned. This means that products are returned in all sorts of conditions. What the liquidations department does is review the merchandise to assess the state of the products. If the items are unopened, in their original packaging, they get moved on. If there are cosmetic blemishes, these are noted, fixed if possible, the product is tested and brought back to its original condition, refurbished. The same goes for the products that were returned as malfunctioning or not working.
In any case, once the assessment and refurbishment are complete, products get repackaged, sorted, packed into pallets and ready for liquidation.
It has to be said, though, that not only customer returned merchandise is liquidated. Often, when you purchase liquidated merchandise you may find shop tags still attached to some products with prices on. This is because some merchandise gets displayed at the store but doesn’t sell, or the turn of season happens and these items get pulled off the shelves. Instead of storing them for a year and displaying them again next year, Walmart liquidates these products to free up storage space. Such products are known as shelf-pulls or closeouts.
Additionally, some products never get to see the store, never leaving the warehouse. This often happens when store managers either make wrong predictions about the demand for a product and order a certain amount which ends up being too much, or the products doesn’t sell as well as expected. These products are known as overstock. The one thing overstock and closeouts have in common is the fact that they are basically brand new.
If you ask yourself, why wouldn’t one sell them as new, why liquidate this merchandise? As noted earlier, retailers have a huge throughput of merchandise and every inch of storage space is crucial this is why overstock and closeouts get liquidated. Items returned by the customers in brand new condition can’t be sold as new again for legal reasons.
The Purchase and the Benefits
If you are running a small online resale business, you may want to try and find the right source for Walmart liquidated merchandise for several reasons. The name Walmart in itself stands for a certain level of quality, so if you are looking for quality items, this is the right way to go. Additionally, liquidation merchandise is sold at prices well below wholesale which is essential if you are looking to stay competitive in an e-commerce environment. If you do some browsing, you will find that prices of single items listed are near wholesale which means that using traditional wholesale suppliers does not cut it.
When it comes to buying Walmart liquidations you can buy directly from the retailer as they have a vast network of selling points. If you are looking for more convenience, you can buy online at Direct Liquidation where Walmart opened a storefront to reach a wider audience online and liquidate the merchandise faster. The benefit is that you are having the option of reviewing the merchandise you intend to buy by going through the manifest, a packing list showing you the type, the quantity and the condition of the merchandise in a pallet as well as general descriptions.
And it is worth mentioning that all reviewed and refurbished items come with a renewed and extended warranty and money-back guarantees.
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.
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