The Benefits of Buying Closeout Pallets Online for Your Business

Stocking up your business is all about scoring the right deal, namely buying quality merchandise for the lowest price possible in order to sell with a significant markup. However, securing the right merchandise at the right price is becoming a harder task every day. It is not always about merchandise availability, but it is about sourcing the right goods that would allow you to remain competitive in a market that is seeing prices of single items on platforms like Amazon go close to those of wholesale items.

You have been working with a number of wholesale suppliers which enable you to be always stocked, and your relationship and loyalty have landed you favorable contract terms, cheaper products, better shipping options. And yet, you are barely managing to keep up with the competition.

The issue here is that you are not looking where you should and missing some great deals by sticking to your more traditional approach by procuring merchandise from wholesalers. Why is this wrong you might ask? To answer that question, you have to understand that wholesalers buy merchandise in bulk, by truckloads, and it is very often clearance closeout or overstock merchandise making them some of the largest closeout buyers.

Closeout and overstock merchandise is usually offered at 25 to 50 percent below wholesale prices. However, after purchasing truckloads of closeout and overstock merchandise, wholesalers break up the merchandise into smaller closeout lots and mark it up.This is why your profit margin remains slim. However, there is a way to purchase closeout and overstock merchandise without the wholesaler’s’ markup, and you can do this from the comfort of your home, by purchasing closeouts online.

What is Closeout and Overstock Merchandise?

Before plunging into a shopping spree, you have to understand what closeout and overstock merchandise is. When companies are closing or have merchandise that for one reason or another has not sold and has been sitting in the storage for too long, they will offer the merchandise at significantly reduced prices, just to make back any money they had previously invested in the merchandise and free up space for new merchandise.

Overstock merchandise is slightly different as it might have been selling but the retailers have either ordered excess amounts or the merchandise is more of a seasonal type. This means that summer clothing has to be packed up to free up shelf space for fall and winter collections. The same is the case when new models of certain products are unveiled and the old ones are either discounted or sold through closeout liquidation companies.

What these two types of merchandise have in common is the fact that they have not been sold, meaning these products are in brand new condition. It is not unusual for the store’s price tags to still be attached to the items. So no matter what you are buying or selling whether it is home decorations, closeout toys or sporting and outdoor goods, you are buying top quality.

How to Buy Closeouts Online?

Searching for closeouts online is similar to searching for wholesale merchandise to buy. A Google search could help. However, your goal is to find the best suppliers that will provide you the highest quality merchandise at the best prices. It is highly advisable to look for the most reputable suppliers with best customer reviews.

Those that seem to be trending nowadays, due to the price/quality balance are the closeout liquidation companies. Unlike wholesalers, closeout liquidation companies don’t own the merchandise, rather serve as a platform for manufacturers and retailers to sell their closeout and overstock merchandise in closeout pallets directly to end consumers.

It is easy to buy closeouts online from liquidator websites as you are offered a choice of closeout lots, closeout pallets or even truckloads of merchandise. Whatever your business is selling, you will be able to source it from closeout liquidation companies. The purchasing process is similar to any other online platform: you browse closeout lots online, choose the merchandise you want to buy and proceed with the purchase.

It has to be stressed that purchasing closeouts online should only be done through reputable closeout liquidation companies that will not only guarantee you high quality and low prices but you will also know what you are buying.

Quality and prices are guaranteed through exclusive contracts liquidators have with manufacturers and retailers. The other positive is that every closeout pallet you find on the liquidator’s website will be accompanied by a manifest, a list that shows the amount, the type and the quality of merchandise within the pallet. This enables you to purchase only the merchandise you are interested in and cater for the demand shown by your customers.

One such liquidation closeouts supplier is Direct Liquidation, a goTRG company, which has lots, pallets and truckloads of closeout and overstock merchandise on offer, all shipping out from the company’s Kentucky warehouse.

Benefiting from Closeout and Overstock Merchandise

Now that you understand what closeout and overstock merchandise is, and where to buy it, the steps to profit from purchasing closeouts online are simple. Whether you are a seasoned online resale business runner or a newcomer to the market, upon receiving the merchandise you will increase your chances of success if you take as many photos of the merchandise as you can and list each item separately with a markup.

However, when it comes to selling, you need to be smart. With the low purchase price, you could be tempted to list single products with very low prices. This could backfire as buyers tend to turn away from such listings regarding them as shady or fake. This is why you should always research the market, see how the competitions prices their products and offer your merchandise at prices just below theirs. In the end, you are still attracting customers with lower prices, but your profit margin is maximised. So, head on to the closeout liquidation company website of your choice and stock up.

Direct Liquidation is a goTRG company.

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Henley Johnson

Henley 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 Henley is here to help you grow your business.

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