Secondary Market, the Road to Profiting in Wholesale

Every year over half a million businesses are created in the United States.  Approximately one third of these start-ups are retail businesses.  A large portion of these businesses will focus on the “Secondary Market”. This marketplace offers great advantages and high rewards but you need to be well prepared.  Finding the right supplier to source products from is critical.

Secondary Market products consist of Closeouts, Surplus Goods, Customer Returns, Liquidated Items, and any product that is not sold after its initial manufacture. Many companies specialize in secondary market purchases and reselling.  Resellers might experience some level of unsellable merchandise in these types of wholesale orders but not always.  Retailers will be hard pressed to find a cheaper source of merchandise than secondary market items and these products can be a great way to turn a profit.

Working within the Secondary Market is more than knowing just your product niche; you also have to know how to sell products with a variety of quality conditions.  Getting creative is essential for moving not only the good products but also the less desirable ones.  A good strategy is to start small by purchasing a few pallets and working your way up to buying full truckloads.  If buying smaller loads is an obstacle, you might need to consider your source. Remember, where you get your products is just as important as what you get, especially when sourcing surplus goods.

To gain additional insight into this industry we spoke with Michael Lawrence of DirectLiquidation.com.  His company represents one of the fastest growing marketplaces for Surplus Merchandise.  

In the past, online liquidators pawned off “as is” and “salvage-grade” merchandise to buyers as the best value available in the wholesale marketplace. Product misrepresentation, low-grade items, and a narrow assortment of tier-2 or 3 brands were commonplace. The ability to purchase small loads or retail-ready products was virtually unheard of. In addition, if you were “lucky” enough to win one of their auctions you could expect a further 7-15% “buyer premium” charge for the privilege of buying their junk inventory. – Michael Lawrence

Michael went on to explain how Direct Liquidation can solve these problems, they offer buyers an incredible range of products, tier-1 brands sourced from their exclusive relationships with top national retailers and manufacturers.  Smaller loads are available so buyers can test customer demand without depleting resources.  Having an ability to test demand could be the difference between a good bottom line and a bad one.

Large liquidators buy huge volumes of surplus merchandise and returns for literally pennies on the dollar. They process and sort this inventory and make it available to the smaller buyer. Generally liquidation lots are sold “as-is, meaning there is no guarantee of lot quality and usually no return on purchase. Understandably, this comes with the deeply discounted prices on these lots, typically well below wholesale. But “as-is, doesn’t necessarily mean poor quality.  Frequently a large portion of the inventory is in new or like-new condition.  Fact is, buyers can and do make a healthy profit reselling this merchandise.

Secondary Market Wholesale Products

Continue reading Secondary Market, the Road to Profiting in Wholesale

Solving the Customer Returns Puzzle

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One of the key strengths to a successful business in this industry is to be creative with the merchandise.

With customer returned merchandise you will see all kinds of goods come through your warehouse, everything from Electronics, Housewares, Hardware, Toys, Furniture, Clothing, Patriotic items and more.  Working with customer returns is more than knowing just your product niche; you also have to know how to sell products within a variety of quality conditions.  A truckload of customer returns will not only include a mixture of products but also a variety of product conditions including; new, open box, scratch & dent, shelf-pulls, and damaged items.  Getting creative is essential for moving not only the good products but also the less desirable products.  A common challenge that many startups have is trying to make money by focusing only on the good items without a plan for the not so good items.  It can be very challenging to move products that have missing pieces or have broken parts, but you have to remember there is a recovery value for everything.  Continue reading Solving the Customer Returns Puzzle

$280 Billion Discount Trade Industry Is Experiencing A Major Shake-Up

GREGORY GARVIN
MARKETING MANAGER
1-855-493-0073
GREGORY@TIGERTRADE.COM

FOR IMMEDIATE RELEASE

January 27, 2017

TigerTrade B2B Platform Is Revolutionizing Global Off-Price Commerce
Ripe For Disruption, $280 Billion Discount Trade Industry Is Experiencing A Major Shake-Up

NEW YORK, NY – TigerTrade sees opportunities in global demand for bargain hunting getting bigger and faster thanks to its cutting-edge approach to international off-price retail. This technology-focused firm launched a first-of-its-kind, business-to-business (B2B) off-price platform designed to improve the speed and efficiency with which companies can sell their excess inventory to international buyers in new markets such as China, United Arab Emirates and Mexico. As simple as signing up, bidding and completing a transaction, vetted businesses and retail brands can move excess inventory across the world within a few clicks. While globalization has accelerated business-to-consumer methods of purchase, changes in the B2B off-price industry have not seen much innovation or automation – until now.

Tanjila Islam, CEO of TigerTrade, and an International Trade and Global Sourcing adjunct professor at the Fashion Institute of Technology said, “Our mission is to be the trusted end-to-end marketplace for buying and selling wholesale closeout merchandise. We achieve this because we understand the needs of our buyers, we know our suppliers.” Islam continues, “There is a ton of supply and plenty of demand, but it is currently hard for buyers to locate international sellers.” Where she saw a market need, she also saw inefficiencies.

Continue reading $280 Billion Discount Trade Industry Is Experiencing A Major Shake-Up

Hot Vapes – over 135 tasty flavors!

2016 showed incredible growth for the Vaping Industry, huge actually!!

Today we are focusing on one company that has become a go-to source for many vape retailers, Hot Vapes.  They offer over 135 tasty flavors and test their nicotine to ensure it’s purity.  Crafted at their labs in Chicago Hot Vapes distributes a wide variety of e-Cigarettes, vaporizers, mods, clearos, tanks and accessories to vape shops across the US.

vapingman1 Continue reading Hot Vapes – over 135 tasty flavors!

GetThatWholesale launches new VAPING Category

If you haven’t heard by now how popular Vaping has become, you might want to start getting out a bit more. The industry has growing in leaps and bounds, so quickly in fact that Vape Product Suppliers can no longer be tossed into a generalized Smoking Products Category, this industry has outgrown itself.  It’s an industry that is raining down revenue to those lucky to be involved.

newvapingcategory Continue reading GetThatWholesale launches new VAPING Category

A New Look for MyFleaMarketGuide.com

We are very proud to announce a new look and functionality to our sister site MyFleaMarketGuide.com. The country’s largest browsable collection of flea markets, antique shows, and farmer’s markets just got a lot better. (if we do say so ourselves) We streamlined the search, added new functions, and made it easier to find the […]

DISCOUNT CODE - LIMIT TIME ONLY

Just passing along an opportunity to save!!!

Below is the email we received from Skip McGrath, if you are not familiar with his website, works or resources you should be.  Right now he is providing a special discount code for subscribers to his newsletter, we are happy to pass this along to you.  This […]

Have you considered Stun Guns?

We get asked quite a bit about products that sell well, usually by a supplier who wants to diversify their current inventory.  If you haven’t considered Stun Guns you might be missing out on a great opportunity.

We live in a dangerous world, our loved ones cannot always be near us for protection.  There […]

Maximize Your Trade Show Time

Business On Monitors Shows Commercial Trades Or Deals

Reasons to Attend

No matter how small your retail business may be, the benefits of attending a trade show sponsored by vendors or industry associations far outweigh any reason not to attend. These conferences have been developed in order to give retail owners, buyers and managers the opportunity to meet existing suppliers, conduct business meetings, network with others in retail and investigate new products.

If you’re currently struggling to operate your business with few to no employees, chances are you may feel like you don’t have the time to attend a trade show. Consider hiring temporary help, asking family to assist or simply plan to close shop for a day in order to attend the trade show.

Once you’ve decided to attend the trade show, you’ll need to plan ahead. To get the most from attending a trade show, you should have a strategy. Knowing what you would like to accomplish before, during, and after the show will help maximize your time. Here are some trade show planning tips:

Pre-Show Planning

  • Avoid the confusion at the show by pre-registering.
  • Have a goal of what you want to accomplish, such as which vendors to visit, what items you need to purchase, what seminars to attend and which new product lines you’d like to see.
  • Know your inventory needs before the show. More efficient purchasing will save you money by grouping your orders to take advantage of discounts and special offers, as well as keeping you within budget.
  • Set appointments with any vendor you’d like to meet with during the show.
  • Plan to bring any employees who would greatly benefit from attending the trade show. Continue reading Maximize Your Trade Show Time

CHAMPS EAST – ONLY 5 DAYS AWAY!

We welcome you to be part of the CHAMPS East this May 24th-26st at the Atlantic City Convention Center. CHAMPS East provides an exceptional environment for retailer and distributor to meet manufacturer and wholesaler. The East Coast is a home to an array of cultures, the cities of skyscrapers. Shops on the […]

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