The resale business can be complicated to navigate. There are many places to buy merchandise below wholesale prices or off-price items. And, to really master the resale business, it's important to understand the industry. This way, you'll be in a better position to buy the right merchandise, understand what you're buying, and what items have the greatest resale potential. Let's look at some merchandising terms that you should know for buying and selling off-price goods.
Item which has been purchased by a consumer and then returned to the store (or online store) for any number of reasons.
Shelf pulls are overstocks and surplus inventories from various who need to clear their shelves and make room for more merchandise. While shelf pulls are an opportunity for companies to make space for new items, they also a great way for resellers to buy quality merchandise at low prices.
One of the reasons retailers need to clear their shelves is due to seasonality. Seasonal goods are items that need to be stocked for a particular season like Halloween, Easter, Christmas, etc.
Shelf pulls can also be referred to as closeout merchandise. Closeout merchandise is usually items that are liquidated by retailers when they are looking to free shelf space for new products, or even if the store is closing and it is looking to get rid of the remaining merchandise quickly.
Goods that have never been purchased by a customer but that are considered excessive stock from shelves and/or warehouses.
Wooden structure used to support goods while in transit or being moved. Standard pallets are 40″ x 48″ and typically moved using forklifts or pallet jacks. They are often wrapped in plastic.
In some cases, you can buy merchandise by the truckload. A truckload is a mode of freight for larger shipments that typically occupy more than half and up to the full capacity of a 48' or 53' trailer.
100% brand new factory sealed merchandise still in its original packaging.
Once only used for identifying jumbo-sized corrugated boxes, Gaylord has evolved into a generic term for any pallet-sized box for bulk shipping or storage. These hefty containers are also referred to as pallet containers, bulk boxes, ballet boxes, skid boxes, and bulk bins.
A bin is a large open cardboard box, similar to a Gaylord but much shorter (approximately 24″ in height).
Different types of merchandise all have their advantages and disadvantages. For example, customer returns are generally priced very low. But, there are often many items in a pallet of customer returns that are broken or damaged. It can be difficult to know what you're buying in the resale business. Look for providers that will give you at least a few photos and a general list of items on the pallet.Reselling is an attractive business. Most people start out of their home, selling items that they no longer want. But, to turn a reselling strategy into a business that earns more than just extra change, you'll need to invest in some inventory. Bidding on pallets and buying liquidation pallets is one of the most common ways to do just that Learn more about:TIPS TO BID ON PALLETS & BOOST PROFITS liquidation pallets
30 plus years of wholesale experience