B-Stock Supply Triples Recovery Rates for Electronics Wholesaler

Background

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 on one auction site, Kingdom Supply began looking for another B2B online auction marketplace that would:

  • Increase recovery rates on the inventory
  • Expand geographic demand for the inventory
  • Provide an easy-to-use, cost-effective platform

Solution

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:

  • Separating products by brand and quality to match demand
  • Updating the auction listings to include more detailed manifests and better images
  • Reducing the opening bid amount to bring in more buyers and increase selling prices
  • Increasing the number of auctions per week

Results

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%.

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