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The current trend for retailers, who want to stay competitive with Amazon, is to provide liberal return policies. When retailers provide an easy and quick means for customers to return a product, it can drive loyalty and ongoing business. According to recent papers published by Canada Post and UPS, consumers are looking for clarity, simplicity and convenience in a return policy. Further, 33% of shoppers indicate that they will complete their online purchase if the returns process is easy.
Some interesting stats:
A happy return for the customer can be a logistical nightmare for the retailer: due to these liberal policies, more merchandise than ever is coming back (a lot of which can’t go back on shelves). Retailers need to be prepared for how to handle this increase in order to avoid overstocked warehouses and lost revenue. Sometimes, for efficiency’s sake, the best option is to slate the merchandise for liquidation and recovery as much as you can. More and more retailers are applying strategic, technology-driven liquidation programs in order to recoup the maximum value on returned items. This includes leveraging a web-based platform and selling the inventory directly to business buyers.
Through B-Stock’s web-based B2B liquidation marketplace platform, retailers are able to reach thousands of approved business buyers—interested in products across all categories and conditions. By enabling the buyers to bid directly on merchandise via online auctions, this eliminates dependence on a single liquidator while automating the sales process (read: zero time spent negotiating). What’s more, the auctions create competition, driving up pricing.
But don’t take our word for it, check out some of our client success stories:
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