2020 seems to have changed just about every aspect of daily lives. The world of liquidations resale has been no exception. Yet one thing remains constant – the period following holiday shopping is a great time to be a reseller. In fact, this year’s liquidations auctions may outpace prior years by quite a bit.
This year, 71% of US adults said they planned to do more than half of their holiday shopping online. This includes 60% of respondents over the age of 55, who tend to favor in-person shopping in a normal year. Overall, online retail in the US is expected to hit an unprecedented $184 billion according to this latest report. That’s a 30% year-over-year increase!
In addition to traditional online shopping, this year curbside pickup and the option to buy online and pickup in-store (BOPIS) are gaining popularity as well. These options allow consumers to stay safe and socially distanced, never having to actually set foot into the store. But they also mean that purchases are made sight-unseen, just like traditional online shopping.
How does all this add up for liquidations resellers? A large percentage of the goods that are returned after the holidays become liquidation goods. Since roughly 30% of all eCommerce sales get returned, we’re looking at over $55.2 billion worth of returns expected this year. That’s likely to lead to a huge influx of liquidation auctions this coming January; and for a reseller looking for inventory, that’s great news.
Since 2020 has been so unusual, spending patterns have been different as well. Holiday shopping trends are likely to follow suit, with products for solitary use and for the home being popular gifts. Here are a few categories to look forward to in January liquidation sales perfect for post-holiday reselling.
Everyone has been spending a lot more time at home this year than normal. With all this time on our hands, we’re noticing the areas where our homes could use some upgrades, places our decor is beginning to look dated, or conveniences we’d like to add to our space. This means many 2020 wish lists include things like robot vacuum cleaners, yard tools like leaf blowers and hedge trimmers, decor items such as throw pillows and lamps, and practical goods like new dishes or kitchenware.
With increased interest and spending in this category, it’s almost certain that we’ll see increased returns as well. Come January, you can expect a great influx of home and garden liquidation auctions in our marketplaces, many from big-name brands you already know and trust.
It’s not just the small decor items that are highlighting wish lists this year. People have been spending extra time on the couch and are beginning to think it needs an upgrade. We’ve learned the importance of a comfortable home office and need the ergonomic chair and stylish desk to make it work. Since the family is again gathering around the dining room table together, we may be ready to search out a new option there as well. We’re converting our bedrooms into calming home sanctuaries and our bathrooms into spa-like retreats. And of course, we need lots of storage-related furniture to keep everything organized and tidy while spending all this time indoors.
B-Stock is bracing for a great jump in furniture liquidation auctions after the holidays. Look for all of those post-holiday reselling deals on merchandise like desks and chairs, mattresses, patio furniture, living room chairs, and shelving systems to flood our marketplaces come January.
Finally, a big seller every year, consumer electronics is one of those categories that will continue to excite in 2020. As the world turns more and more digital, many people are upgrading their cell phones, computers, tablets, and accessories. We’re looking for bigger TV screens and streaming devices to access the latest content. We want smart gadgets to manage everyday tasks. With most concerts postponed indefinitely, we’re moving the money we would have spent on tickets into upgraded home audio systems or better speakers for the car. We’re looking for wireless headphones, upgraded webcams, and better lighting to make our video conferences better.
All of this spending means electronics returns will likely jump again this year. Want to get in on some of those store returns of electronics and devices for your post-holiday reselling business plan? Look no further than B-Stock Consumer Electronics Auctions.
If you want to get in on the liquidation auctions goodness come January, now is the time to get started. Before bidding on your first B-Stock auctions, you’ll need to have a reseller account. This means you’ll need a Federal EIN and sales tax ID number to register with B-Stock. You’ll want to apply for registration at each B-Stock marketplace that you want to access, since each marketplace may have its own standards and requirements.
If you’re new to reselling, you’ll also need to set up your warehouse and decide where you want to sell your newly liquidated goods. Check out our Buying Guide & FAQ for plenty of information about getting started with B-Stock Liquidation Auctions. You may then want to participate in an auction or two before the rush to get a feel for the process and begin building your inventory.
No matter how you choose to look at it, early 2021 is likely to be an exciting time for liquidation resale. Stock up for your business and don’t miss your chance to get in on some of the amazing deals that are likely to be available after the holidays!