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Kingdom Supply, a family-owned wholesale company specializing in wireless and consumer electronics accessories, was looking for an online auction sales channel specifically designed for business-to-business transactions. After a lackluster experience and low recovery rates on one auction site, Kingdom Supply began looking for another B2B online auction marketplace that would:
Kingdom Supply began listing its auction lots on B-Stock Supply. Over time, data-driven auction strategies were implemented to maximize price and build buyer confidence. This included:
Within a calendar year, Kingdom Supply went from listing 10 auctions per week to 120, and increased its monthly GMV by 1,466%. The B-Stock Supply marketplace easily handled the uptick in inventory velocity without sacrificing recovery. What’s more, by implementing B-Stock’s data-driven and customized strategies including posting clearer product images, providing more detailed inventory manifests and optimizing lot configurations, Kingdom Supply was able to achieve 7.6x higher recovery on MSRP, a 658% increase. Meanwhile, as the number of optimized auction lots grew, so did buyer confidence (a key element to maximizing recovery), this allowed Kingdom Supply to achieve a repeat buyer rate of 74.7%.
Email UsEach year, B-Stock facilitates the movement of billions of dollars worth of returned and overstock inventory via the world’s largest B2B recommerce marketplace. This means, of course, that we sit in the middle of a two-sided network madue up of…