Why Buy Pallets of Refurbished Electronics Online?

Electronics are some of the most sought-after products online. Whether it is smartphones and laptops, or accessories the market is huge. However, although there is a healthy demand, there is also strong competition. For someone who is looking to make some extra cash on the side through selling merchandise online, especially electronics, this might be a tough task. But here are a few tips on how you should buy refurbished electronics wholesale that will set you off on the right track.

Make Money Selling Pallets of Refurbished Electronics

No matter what type of electronic products you intend to sell, the competition will be there because the market is well supplied. This means that you either have to find an undersupplied niche segment in the electronics market or find new and cheaper ways to get your hands on top quality electronics to sell at wholesale prices and still make a profit.

Electronic accessories are also a promising segment and you could well set your sights on searching for a niche market within that segment. The reason to look for an undersupplied niche market is the fact that the demand exists and there is not enough supply. This allows you to take advantage of the demand gap and profit through filling it.

Another advantage of a niche market is that you should not have much competition. This means that you will not have to peg the prices as low as possible just to make a sale.

However, if you are not into market research and spending time looking for small gaps in the market that could bring you profit, but would rather try your hand where the competition is at its highest, buying pallets of refurbished electronics could be the way for you to go.

Where to Buy Pallets of Products Online

With the single products on websites like Amazon or eBay selling at near wholesale prices, if you decide to take an oversupplied market head on, you must find the cheapest source without compromising the quality of the product.

If you have previously been sourcing your products from a wholesaler you will have noticed that, while you have been granted all the perks a loyal customer can get from a supplier, you are still unable to compete with some of the sellers online.

Buying wholesale goes out the window because the profit margin is slim and not worth the hassle. This is because your competition has found a way to source products even cheaper than you.

Buying through liquidation companies, specifically reputable liquidation companies enables you to buy pallets of returned merchandise at prices well below wholesale. As a result, you can stay very competitive in a tough market and make a significant profit. ‘How is that possible?’, you might ask. There are several factors at play here. First, liquidators don’t own the products sold on their websites, and just act like a platform on which manufacturers or retailers such as Walmart can open a storefront and liquidate their merchandise. Through exclusive contracts, liquidators ensure that manufacturers or retailers offer top quality merchandise and provide buyers with detailed information about the lots they are putting up for sale.

This is where you start looking into the refurbished electronics section and searching for products to buy and resell. No matter if they are smartphones, laptops or tablets, you will find that these products are sold for penny on the dollar, compared to the prices offered by your wholesaler. That is the first factor that enables your competition to stay a step ahead of you.

Why Buy Liquidated Refurbished Electronics?

While you have every right to ask such a question, you should first stop and look what your previous sources have been. If you have been ordering pallets of wholesale refurbished electronics from a dodgy supplier, the odds are you have not had a good experience. This is why we always urge you to look for a reputable supplier, a source/liquidator that has been in the business for a while, that has top retailers and manufacturers onboard and that has received rave reviews by its customers. These are the liquidators that will open you the door to being competitive in the wholesale merchandise market.

As noted, liquidators, especially the top ones, will have exclusive contracts in place with top retailers and manufacturers guaranteeing high-quality standards of every product listed at liquidation websites. Each and every product that ends up in the refurbished category is reviewed, repaired and tested in order to bring each item to the original manufacturer’s operating specifications and to a retail-ready state.

While the products might be in various conditions cosmetically, you are always able to check the grade awarded to the product through a manifest that will always be provided to you by the liquidator. On top of that, every refurbished product is sold with a 90-day warranty from the liquidator, which should be enough of a reason for you to buy.

Both manufacturers and liquidators put each product through strict testing procedures to ensure the quality as they don’t want to see the product return again. Products that return too often because of faults and low-quality damage their reputation and cost additional time and money.

Advantages of Selling Refurbished Electronics

Now that you know that you are buying quality products, it is time to take full advantage of the opportunity. First, you are buying at a lower price, you are given a 90-day warranty to accompany every product, but you are still looking to boost your profit margin as well as your competitiveness.

You should look closer into the volumes you are ordering and see if you could buy in larger volumes. While buying by the wholesale pallet gives you an advantage over single purchases and smaller lots, buying truckloads of merchandise saves you a significant amount in shipping costs. This means you are keeping your cost at the lowest level, you are stocked for a long time and you can flood the market with quality products.

Now, when reselling, you might think that offering the lowest price will bring the customers flocking to your online storefront. You might be wrong. People will see a low price and think there is something shady about that product. This is why you should look to keep the prices just below those of your competition and spend some money on advertisement. Get the word about your products out, and once the customers start coming in, make sure to keep them for good with quality product and quality services.

Share on social networks

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.

View Henley’s Bio on YouTube.