As a discount store retailer, what is the best way to take advantage of wholesale liquidation merchandise? I am really not that interested in purchasing customer returns, but I could see bringing in shelf pulls and closeouts.
This is a great question, and one I love to answer. When it comes time to restock the shelves, most retailers are familiar with ordering specific items from a distributor or wholesaler, but the idea of purchasing mixed pallets with unknown contents can leave even the most seasoned retailer with a queasy stomach. There is no need to worry about the unknown, fearing what will be delivered to your store, if you remember one rule of thumb:
Only buy liquidations, closeouts, and shelf pulls with the intent to hold liquidation “sales” within your store.
Think about most of the stores you frequent within your daily life. Most stores set aside one area to liquidate merchandise, right?
- Every clothing store has a rack or two of drastically reduced clothing
- Discount stores such as Walmart, Target, and Kmart usually have a discount section within each department
- Grocery stores will even discount slower moving, or near-dated food items items
I challenge you as a retailer to purposely source liquidation merchandise for the sole purpose of (1) discounting items (2) creating retail excitement amongst your clientele; and (3) always have a mixed variety of merchandise.
You no longer need to worry about a big mix of unknown merchandise, you can use it to your advantage! Everyone loves to shop the sale aisle or discount shelf within each store. No you have a purpose in mind when purchasing wholesale liquidation merchandise!
Our 2020 Liquidators Guide chronicles 12 years of wholesale product sourcing experience and includes my personal black book of direct source contacts! As an industry expert, I'll share the success I've enjoyed along with the mistakes I've made buying and reselling liquidation merchandise.
If you are thinking about buying pallets of liquidation merchandise from a liquidator, broker, or direct from department stores, you need to check out The Liquidators Guide