Around 3.5 billion items are returned to retailers each year adding up to over $260 billion worth of merchandise. A large portion of this inventory can’t go back on store or virtual shelves – due to diminished item condition, damaged packaging or product obsolescence – and is slated for liquidation. Luckily the ‘L word’ (in this case) doesn’t have to be a term of frustration or thought of as a lost cause; in fact there is huge opportunity to recoup value for this inventory simply by applying technology and sound strategy.
B-Stock Solutions’ CEO Howard Rosenberg recently addressed the above topic in a Tech Guest Viewpoint for Chain Store Age magazine, specifically looking at how ditching manual methods and automating the liquidation process can bring efficiency and create a strategic business advantage. Consider this:
- Selling inventory offline to one or two liquidators creates low recovery value
- Time spent negotiating deals for every lot of merchandise takes away from core business activities
- A Web-based solution allows thousands of buyers to compete for your inventory
To read more of Howard’s article in Chain Store Age, please click here. For more information on how B-Stock can build a technology based and data-driven solution for your returned, overstock or excess inventory, please contact us.