Category: Wholesale Pallets

Buying Customer Returns from Liquidators for the First Time

Simply, liquidation refers to the removal of products that are no longer beneficial to a business, or that it can no longer afford. These products are generally the assets owned by a business. These products might be sold to save a business, or pay off its creditors, or even simply when a customer returns an item without even opening the box, the said product is no longer new and is relabelled as a used item.

Customer Returns from Liquidators

Every entrepreneur wants to increase the profit margins of their business. In doing this, you want to maximize sales and minimize the costs. To help your business to flourish, you want to sell high-quality wholesale products at low prices to attract customers, increasing both your sales and customer demand for your products, gaining you a bigger market share. This is now possible by selling the customer returns, sourced from liquidators.

However, there are some major factors that you should keep in mind before considering these products.

1. Check for defects

Firstly, the products should be checked for defects – if possible before you buy them. If you can’t inspect them yourself, carefully read any information on the manifests and listings. If you are running a large-scale operation, as your sourcing costs would be decreased, you may want to consider hiring a supervisor to look for defects before they’re repackaged, or listed for sale – Remember – you don’t want customers returning these products back to you.

2. The Contracts

Secondly, make sure that the suppliers you are signing contracts with are reliable and authentic. Their business should not be involved with any scams or regulatory investigations. Make sure wholesale liquidators you’re doing business with are a trustworthy source to buy from, and read reviews.

3. Know Your Business

You need to keep your own business in mind. Not all palletized items will help you fulfil your customer demands, or contribute to your business model. You do not want to pile up unsold stock in your inventory. If your business is dealing with electronic gadgets, don’t just buy clothes or footwear from liquidators, just because the price is cheap, no matter how good the quality is for the deal being offered – if you don’t know the market, it’s a lot more work.

4. Pricing

The next factor when looking for customer return items is the price of the products. You should do some market research about the price of the same product from different businesses and compare them, this can help with budgeting. Some liquidators may even offer bulk buying discounts.

5. Doing Repairs?

Now the last factor is considering the effort it takes to fix some products that might be broken or are in need of repair when buying wholesale pallets. Is the product worth putting in the required effort and labor? Would the amount it costs to make repairs exceed the selling price? These questions must be answered before you make your decision to buy untested customer return items from liquidators.

Also, it is advised to use more than one channel to sell the products you got from liquidation sales. These channels can be online selling or opening outlets. Wholesale buying is a lucrative small business venture with a lot of potential.…