Since the dawn of the Digital Age, sales have shifted from brick and mortar shops to online. E-commerce has seen a huge boom in the past few years, as more and more people have begun to move away from the traditional way of shopping, preferring the comfort of their homes, and the ease of their laptops and phones, over going out to visit stores. Not only has this trend greatly advantaged the buyers, but it has also brought along with it a number of tremendous opportunities for anyone looking to set up and own a wholesale buying and selling business. Due to the increasing amounts of imports from the US, internet users in Asian countries specifically in India are predicted to grow from 243 million in 2014 to 730 million by 2018, hence making the present time highly favorable for prospective business owners to familiarize themselves with liquidation.
Making Money from Home with Liquidation Auctions
Liquidation happens when a company or brand is selling its goods as a result of bankruptcy, legal judgment or the products being discontinued, overstocked or being customer returns which, as per law aren’t fit to be sold as ‘new’ again. This means that products end up being sold in liquidation auctions, where buyers have the chance to snap up quality items at steep discounts.
This might sound simple but successful wholesale liquidating requires patience and a little experience on your part. Check out different auctions, inspect and negotiate the items included in liquidation sales, where possible, and always double check manifests before making a purchase. Whatever you’re trying to market, it needs to at top-notch standard and lower in price because not only will that provide you with an edge over your competitors, but get you much-needed popularity and customer demand as well.
Lots of Potential
A career as a wholesale liquidator can be extremely fruitful, and this claim can be backed by the astounding statistics from the US alone, confirming the upward trend in small business activities, of which wholesaling is a part, and how small businesses have increased by 49% since 1942, and have created a staggering 65% of the net new jobs. Add to this the fact that nearly 54% of all US sales happen to be from such businesses; you will be reassured and encouraged to become a part of this now global market. International markets, such as India, are now also importing wholesale products from the US, due to this market.
A few issues you might encounter when it comes to wholesale pallets and getting the products to their buyers in a period of 30 days after you get them are; overexposure, timely delivery and dealing with returns amongst others.
Rule of thumb, never buy too much from wholesale liquidators but always make sure you have enough in your inventory to cater to your clients. However, since making a place in the marketplace takes time, you’re advised to be patient, and start smaller. As for returned items, you can sell them as you bought them, at even cheaper rates on special sales. An effective way to reduce the 30% return rate of items bought online, would be to start off with items of good quality and establishing a friendly website with good customer service.
Not only would this bring you more traffic as it has been found that 34% of all shoppers prefer to use their smartphone to shop, but it will also ensure that any issues or mishaps involving your customers are sorted out at once.
With an initial investment of a little effort, insight and thorough research, you can be a proud owner of a thriving business from home. Good luck!