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A GUIDE TO BUYING RETURNED AND EXCESS MERCHANDISE

What to look for when sourcing returned an excess merchandise.

(aka: how small store owners and resellers can bank on the busts of retailers and manufacturers)

Around $440 billion worth of merchandise is returned each year – a lot of which can’t go back on the shelves. But one retailer’s headache is another’s opportunity, and for online sellers, independent retailers and resellers, there has never been a better time to source returned and excess merchandise on the secondary market.

So, how do you navigate the secondary market to successfully sift through the bad and the ugly to get to the good? Here are some tips on what sellers should look out for when sourcing customer returns and excess merchandise:

 

It’s best to buy directly from the source

By purchasing directly from the retailer or manufacturer you can assume that there is no middleman involvement and no price mark up. Historically, it has been difficult for small to medium sized buyers to buy excess inventory directly from large retailers and manufacturers; however, today there are new, efficient systems that automate the manual work otherwise required for them to sell to larger buyer groups.  One such tool is an online auction marketplace platform. These marketplaces provide a level playing field for all buyers to compete for the inventory, and they enable a direct relationship with the source via a transparent platform. Because they eliminate all negotiation over price, it is just as easy to have thousands of buyers involved as it is to manually sell to just a handful.

 

Source online from reputable sellers

Independent retailers, online sellers and resellers can often source inventory more affordably and efficiently by tapping into online auction marketplaces that sell returned and excess merchandise. There are numerous benefits to sourcing this type of product online including: greater product availability, detailed product descriptions, bulk quantities at your fingertips, shipping options, and a quick sales cycle. The key is to make sure you are buying from a known brand: many top retailers like Wal-Mart, Target, Costco and Best Buy have their own liquidation marketplaces while others leverage multi-seller marketplaces like B-Stock Supply or Liquidation.com. In the case of multi-seller marketplaces, be sure to use one that has a seller rating system, so you know you are buying from a reputable seller.

 

Purchasing inventory via these online-auction liquidation marketplaces can be a great way to secure inventory at an affordable, in some cases rock-bottom price, ensuring a better profit margin for you.

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Batten down the hatches – Black Friday is coming!

Some are starting to smile while others cringe…here it comes again, Black Friday.

Referred to as the creme de la creme of buying and selling, and it’s only a week away.

Adobe’s Digital Index shows that last year’s Black Friday set the bar high, with consumers spending $2.4 billion online, an almost 24% increase from the prior year. This year, according to some estimates, that spend line is increasing even more. Especially with e-commerce continuing to grow in the double digits, something it has done for several years in a row now.

bfriday

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Britain MORE dangerous than U.S.A

Many Americans screaming for gun control will be surprised to learn recent statistics place Britain as THE MOST DANGEROUS country in ALL of Europe, even surpassing South Africa.  The facts show Britain to be far more dangerous than the “gun slinging” United States.  Although these numbers were just released many proponents of the 2nd Amendment have been well aware of these facts for quite sometime.  So why aren’t more people aware of these facts? The answer is simple, those yelling for all the gun-grabbing have been backed by a media blitz against one of this countries greatest and most cherished freedoms.

The banning of weapons is not new, several countries have passed laws taking guns from the hands of their citizens.  The UK and China both ban private ownership of guns.  Australia, Japan, Singapore and Canada have all passed very strict gun laws limiting gun ownership.  Against popular belief removing guns entirely does not reduce crime, in fact in all cases it has dramatically increased crime.  Criminals are well aware the guppy pool has gotten bigger, they become emboldened knowing they have the upper hand.  The gun laws imposed only effect those who follow the laws in the first place, criminals are not getting finger printed or filing paperwork to own guns.  Criminals get their guns they way they always have, illegally and on the black market.  Let’s face it, if criminals are the only ones holding guns the population is literally at their mercy.

Here are some interesting facts to consider:

  • The UK has the second highest overall crime rate in the EU.
  • It has a higher homicide rate than most of our western European neighbors, including France, Germany, Italy and Spain.
  • The UK has the fifth highest robbery rate in the EU.
  • It has the fourth highest burglary rate and the highest absolute number of burglaries in the EU, with double the number of offenses than recorded in Germany and France.
So the next time you hear someone say the United States is more dangerous than “Gun Free” countries you can correct them and hopefully educate them that the facts show it is CLEARLY MUCH SAFER 🙂

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Sandy Hook, CT – Going about donating.

Recent events within the small town of Sandy Hook, CT have struck the hearts and souls of many Americans and others around the world.  For some making a donation is all they can do, it provides some personal relief that they are helping when help is truly needed.

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Obama Re-election already causing closures and job layoffs

Within days of President Obama’s re-election businesses announce layoffs and even closures. “These cut backs are due to Obama’s re-election” stated one Arizona employer who reduced his staff by 22 employees.  Other businesses followed with similar actions and noted the fear of an even slower economy with no real change.  With no end in sight for Obamacare business owners are adjusting accordingly in an effort to make ends meet, unfortunately this means more people added to the unemployment lines.  These are real world consequences within days of a re-election, the fear things will continue to get worse is very real within the marketplace.

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SPOTLIGHT Your Company on GetThatWholesale.com

GetThatWholesale has launched a brand new opportunity for suppliers to market themselves to buyers. Although qualified suppliers can of course still list their company for free they may want to consider GetThatWholesale’s next level of promotion, the new and improved Spotlight Level. Unlike the free listing which includes only (1) product category and a very limited company description the Spotlight Level comes fully loaded. Best of all it fits even the tightest of budgets.

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GENCO Marketplace Introduces Easy-To-Use Website for Liquidation Lot Purchases

PRESS RELEASE

Release Date: For Immediate Release

Contact: Don Rendulic, GENCO ATC, 412-820-3922

GENCO Marketplace Introduces Easy-To-Use

Website for Liquidation Lot Purchases

Newly Designed Site Brings the Speed and Convenience of

Consumer Shopping Sites to Liquidation Buyers

PITTSBURGH, Pa., September 20, 2012 – GENCO Marketplace, one of America’s largest merchandise liquidators, has updated its website to make buying bulk liquidation lots as easy as buying items on popular consumer eCommerce sites.  The large-scale redesign project will enable buyers to spend less time sourcing liquidation inventory and more time selling and making money.

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Sourcing Wholesale 101 – NEW E-Book !!!

GetThatWholesale.com Goes to the Presses with Informative New E-Book

GetThatWholesale is putting pen to paper or should we say, keystroke to E-Book. The new book titled “Sourcing Wholesale 101” is a beginner’s guide to wholesale and will assist new comers to the industry.

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Sourcing Wholesale 101

Sourcing Wholesale 101

Quote startThe book is centered around the basics, it covers many of the most common questions, like what’s the difference between a Customer Return and a Closeout?, it might sound simple to those of us inside the industry but to others it can be quite confusing.Quote end

Bethel, Connecticut (PRWEB) August 08, 2012

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GET Heard by literally thousands of buyers!

Wholesale.FM offers users the chance to hear professionally produced interviews with wholesale supply industry leaders, owners, and experts on a variety of topics related to the business community. Interview subjects will provide retailers with a rare glimpse behind the marketing and canned emails and really hear from the people that make up the wholesale marketplace. Recent interviews have included the owner of Sahara Smoke Co Rodney Masri as well as Andrew Levine, Founder and CEO of JADS International.

The catalog of interviews is only half of the story. Through a link on flag ship site GetThatWholesale.com any listed company will be able to record a thirty second message without cost and using no special software of their own. They just click a button and a recorder opens ready to create their message. The supplier can then review and change their message if needed before committing to it.

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Contracts – an important part of doing business.

If you are in business than you have probably been burnt once or twice, unfortunately this is just a part of life.  No matter what you sell or what type of service you provide you will always find those that are unhappy, no matter how hard you try to please there are some that cannot be satisfied.  In situations like these it’s critical that your responsibilities to the client are spelled out and in writing.  This is not only for your protection but their protection as well.  Contracts are the basis for business and have been in use since ink touched paper, they provide not only peace of mind for the buyer but the legal protection of all parties involved.  If you are not using them you should think about starting, without some type of contract between parties you are left unprotected and defenseless against anothers whim, confusion or misunderstanding.  You will be left with a he said she said scenario and that’s not good when you are talking dollar and cents.