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Wayfair, a top online destinations for home furnishings, was growing fast. Following strong sales, the retailer found itself with a high volume of customer returns. Selling these large quantities of furniture, home décor, and other household items to a small group of traditional liquidators wasn’t clearing out inventory fast enough or creating enough competition to extract high recovery prices.
Seeking a liquidation solution that could scale with its primary business, Wayfair turned to B-Stock.
To address these goals, B-Stock launched a business-to-business marketplace for the brand, enabling buyers from around the globe to bid directly on truckload-sized lots of excess product. B-Stock offered Wayfair data-backed auction strategies to maximize price, included optimizing lot configurations and adjusting the time and frequency of auctions. Further, B-Stock’s marketing and PR teams helped to continuously drive new buyers to the marketplace, increasing competition to keep prices high.
With the launch of its new B2B marketplace, Wayfair moved from relying on just a few traditional liquidators to engaging thousands of business buyers—a change leading to a 138% increase in sales volume. Further, the furniture retailer saw a healthy 31% increase in overall recovery rate, freeing up cash value which was formerly tied up in surplus stock.
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