Relaxed return policies build customer loyalty, but on the flipside, drive a culture of impulse buying: consumers know they can purchase – and bring back – items at will, with no questions asked. In the case of e-commerce, returns are even more robust due to the propensity of the buyer to purchase three or four sizes of the same item and send back the ones that don’t fit.
This trend, and the growing cost associated with it, is packing a punch with retailers, large and small; this is especially evident when it comes to merchandise that can’t be returned to store or virtual shelves and is slated for liquidation. In the case of smaller, independent retailers with already skinny margins and limited resources, it’s essential for them to establish an automated program that will quickly turn this obsolete inventory into the maximum amount of cash.
Leveraging a B2B online auction liquidation marketplace is one way to make this happen. The best marketplaces available come with an established and vetted base of thousands of active, interested buyers who will compete for your stock via online auctions (this pushes prices up). When used properly, this type of solution can boost recovery by 30%+. What’s more, it will automate the process and help deliver a faster sales cycle.
While leveraging this type of platform will have a big impact on efficiency, not all B2B multi-seller liquidation marketplaces are created equal. Be sure to look for a marketplace that has:
- Direct access to a global buyer base: thousands of buyers will help drive prices up
- A great reputation among buyers: repeat buyers mean higher prices
- A knowledgeable support team: extensive secondary market and online expertise is a key driver of success
- An easy-to-use platform: you should be able to easily post full inventory manifests for buyer review and bidding