A Warehouse In Sc Is Selling Unsold Amazon Stock For Deep Discounts
Monday, July 8, 2019
TAYLORS, SC — Amazon is one of the biggest retailers in the world, but even they cannot sell absolutely everything.
Enter the concept of a warehouse sale. One warehouse in the Upstate of South Carolina is using the allure of unsold Amazon items to bring in thousands of customers from across Georgia and South Carolina.
Have you heard of Bintime? Bintime is one of these businesses that purchases excess or unsold stock from Amazon and sells them at deep discounts.
The company, according to WYFF, houses more than 400,000 items at one low price depending on which day you visit the Wade Hampton Boulevard location in Taylors.
Sales run from Saturday to Tuesday. On Saturday and Sunday, everything in the warehouse is $3. On Monday, everything is $2. On Tuesday, everything is $1.
The company also has several rules to follow once you make it inside:
1. No book bags or large purses permitted.
2. Children under 16 years of age must be accompanied at all times and are not permitted in the bins. Zero exceptions.
3. Large bags will be provided. No personal bags, carts, or baskets will be permitted.
4. Only one bag of goods per person. You may check out and return to the sale as many times as you like.
5. No stockpiling or sorting items on the floor or anywhere else in the building. This is a safety issue and will be strictly enforced. Only take goods that you intend to purchase.
6. No merchandise is permitted in restrooms.
10. Cash and Credit Cards are accepted.
Where Do Amazon Returns Go
According to many Amazon third-party sellers, dealing with customers abusing Amazons lenient return policy is considered part of the business.
At least 30% of online orders are returned and nearly 9% of products are returned to brick and mortar stores. One big reason for this is that the retailers offer customers easy, convenient, and quick ways to return orders.
Those sellers who sell on Amazon know that the is very lenient to customers who want to return items.
In fact, according to Statista, almost half of the customers return their online purchases.
Amazon announced at its event the launch of two liquidation resale programs that allow sellers to resell customer returned items, such as Grade and Resell, a program that enables FBA sellers to relist returned or unsold inventory as used.
In addition, Amazon has dedicated places on its platform for used items like its Warehouse Deals for used goods, for refurbished items and for overstock.
Also, a daily deal site called Woot, an Amazon company.
But what about the returned items that dont get resold through Amazon? Usually, liquidated goods from Amazon are sold by pallet or truckload.
Why Would You Want To Buy Items That Are Faulty Or Returned
Quite simply for the incredibly low price. The price is so low that either the end buyer is willing to accept the flaw, which in some cases may only be cosmetic, or if worse, have the item repaired. In some cases such as salvage electronics, the end buyer might be purchasing for parts rather than the whole.
This is also an incredibly attractive option for eBay sellers who can buy in bulk at a big discount, test and repair the items, and then remarket each one on eBay hopefully for a profit. How much effort they will need to put into each item will depend on the grade of items that they buy.
Buying refurbished or new items that should expect to be able to sell items without little effort and the discount comes purely from buying in bulk and buying without any warranty.
While for untested returns, ungraded returns or salvage lots, more effort will be required which can mean making one good one from two or even stripping the items and selling as parts, or even remarketing in an as is condition. This makes for the next important chapter
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Amazon Pallets For Sale: The Liquidation Scam
There is a whole craziness online these days about a new, trending opportunity: Amazon pallets for sale. More specifically, Amazon liquidation pallets, which means return products that consumers send back as faulty. These items are placed on crates and sold as wholesale deals some sort of mystery boxes that you can check before buying them.
However, this promising concept created a monster and generated the biggest scam of the year when it comes to online retail. There are tons of out there, but this one takes the cake. Lets take an in-depth look at the fraud and how to avoid it.
Below is an image/screenshot that you might see on many websites:
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Alternatively, if you want to get educated on the liquidation pallets topic, you can check out sites like this for more information. Also, watch the video below to see how to buy pallets if you want to open a liquidation business:
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Section 4 Of : What Can You Expect On Amazon Return Pallets
How To Make Money Selling Amazon Return Pallets
The best way to make money with Amazon return pallets is by refurbishing the merchandise and reselling each product at higher prices on marketplaces like Amazon or your own ecommerce store. This process is known as retail arbitrage.
The secret to being successful selling Amazon return pallets is to take the time to refurbish as much of the product as possible to make it seem like new.
There are also several strategies that you can employ to boost the value of your liquidated goods and its both an art and a science.
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Best Ways To Buy Amazon Return Pallets
In general, Amazon customer returns are sold on liquidation company websites.
So first, visit the websites, and youll find a list of all the vendors selling their liquidation stock.
Then, simply select Amazon under the Marketplaces or By Seller category.
Lets take a look at some of the different liquidation companies.
Is Buying Amazon Return Pallets Worth It
Buying and selling returned Amazon merchandise in bulk can be both exhilarating and fun and make you up to 100k in profit at the same time.
The main advantage of this business model is that you dont really need much storage.
Most of the products that you buy from your pallet will be immediately sent back to Amazons warehouses for resale or listed on Ebay.
It also doesnt require much money or technical skill to start because you will be relying on 3rd party marketplaces for your sales.
But in the long run, buying and selling returned merchandise is not easily scalable and it can feel like running on a hamster wheel. You never know when your next pallet will be your last and youll often end up with lots of unsellable merchandise.
The main reason I stopped my online arbitrage business was because it had plateaued and I wasnt willing to invest in more human capital to continue to grow it.
In addition, I had so much junk lying around the house that my wife threatened to divorce me:) But its a great way to get started in ecommerce.
So if you are new to selling online, buying and selling Amazon return pallets can be a great way to dip your toes in the water without much risk.
What Are Amazon Customer Returns
People across the United States are now buying more products online than they are from physical stores. Online commerce grows year on year its estimated to rise from a figure of $396.7 billion dollars back in 2016 to a staggering $684 billion by the end of 2020. This switch to online purchasing has benefitted companies such as Amazon immensely, but theres a downside to the retailer: mounting levels of customer returns. Customers expect companies to have favorable returns policies, with 58% of those surveyed wanting a no questions asked policy and 92% saying they would be more likely to buy from the same company again if they have a good returns policy.
Amazon knows full well that the customer is king, which is why they like most big name retailers try to accommodate their customers returns needs. And that means the company takes back huge amounts of returned products every month as a result of how easy theyve made it to send products back.
There are many reasons why products are returned to companies such as Amazon. In the United States, the reasons why products are returned can be broken down as follows:
- 20% of customers received damaged products.
- 22% of the products received looked different in real life than they did online.
- 23% of customers received the wrong items.
- 35% of customers returned products for other reasons, for example because they changed their mind about their purchases.
How Much Can You Make Buying And Selling Amazon Pallets
If, when you buy a pallet, you have a list of items like above then you then need to start doing your own due diligence to figure out how much money you can make. In a manifest like above, you’re given a list of Amazon ASINs. An ASIN is Amazon’s unique code that it gives to each item in it’s catalog and each item can only have one page on Amazon. Take this ASIN and go to www.amazon.com/dp/. So, for example, the Fast Lane Sand Shark item above has an ASIN of B01K26TIDQ meaning the page on Amazon for that product is .
Now you want to use a tool like Helium 10 to show you exactly how many items a month that product is selling on Amazon. Regardless of whether you plan to resell your items on Amazon, eBay, or at a garage sale, seeing how many units a month that product is selling is a good indication of how easy that item will be to resell.
In this case, we can see that this product is selling about 1 or 2 units a day. It isn’t huge, but if you’re able to win the buy box you can expect that it would take you about 15 to 30 days to sell out of this product not bad.
Making The Most Of Your Amazon Returns Pallets
Due to the fact that customer returns come in a number of conditions, making the most out of them requires effort if you are to maximize the amount of profit you can squeeze out of each pallet. Some of the items in an unopened, uninspected pallet of Amazon returns will be sellable straightaway, but others will need some care before youll be able to sell them to your customers.
Pallets of customer returns can include untouched, unopened products, products that have been opened by customers and are now missing components, nonfunctioning products, damaged products, fully functional products with damaged or missing packaging and any combination in between. The trick when squeezing as much bang for your buck out of a pallet of returns is to add as much value as you possibly can. Lets take a look at what you can do to maximize the profits from a pallet of Amazon returns.
How To Buy An Amazon Return Pallet & Bulk Retail Returns
BSTOCK, Amazons direct liquidation outlet, does require a tax exemption certificate and for you to enroll in the Amazon Tax Exemption Program meaning you need to be a registered business/reseller with your local authority. Walmart Liquidations also require you to be a registered seller . You will need to check in your state as to how to get your resale certificate/tax exemption certificate. Liquidation.com does not have this requirement as sales tax is applied to all items but you can apply for sales tax exemption if you are a reseller.
If you are an overseas buyer, some auction lots cannot be shipped outside of the US but many can.
Also, if you are buying a pallet or truckload then another very important point to consider is unloading. Drivers are not obligated to help and the window for unloading is usually limited and not all trucks have a liftgate. Check the requirements with the customer service dept, of the auctioneer before buying. Most will also allow for you to arrange your own pickup.
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Pallets Near Me South Carolina
Are you looking for pallets sellers or liquidation pallets and your in South Carolina. Here are some place you will want to check out. Liquidation is a great place for resellers to find merchandise in bulk. If your looking for New, Shelf pulls, customer returns or salvage type merchandise. Wholesale and liquidation may be able to help you find the inventory you need to keep your resell business moving forward. Here are some Wholesale and liquidators in South Carolina.
What Can You Expect From An Amazon Return Pallet
Return pallets are usually sold in bulk with a large variety of different products, such as clothing, electronics, beauty products, and so on.
Heres an Amazon return pallet auction from Liquidation.com:
So for the example above specifically, you get 84 items with a suggested retail price of $2,168, and right now the top bid is $240.
Usually, there are a couple of photos that oftentimes arent really helpful, so you dont get a view of the whole pallet. But on some liquidation websites, you can see everything the pallet includes because they provide buyers with a manifest, where they list every item thats in there.
The caveat is the items may be in bad condition. Some items will be ready for resale immediately, others might require some repair, and some can only be sold for parts.
Occasionally, you can also see on the manifest that even though each bundle is categorized, there are still some random items in each pallet.
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Buying Amazon Returns Pallets Near Me
Where is the best place to source Amazon returns pallets for less? We will guide you through buying Amazon returns pallets, and some top tips for resale.
Nowadays, its easy to forget that started its life as a humble online bookseller. From selling its first book about human thought processes way back in 1995, the company has grown into an online global retail giant that has completely transformed the way we shop for goods. What was once a humble bookshop has now grown into a global powerhouse, with over 200 million unique visitors to the site in the US alone. Those familiar brown cardboard packages are part and parcel of everyday life, and one-click purchasing and next day delivery are considered the norm today, and no longer a novelty.
The retail model may have changed, but theres one aspect of the business that is the same for Amazon as for bricks and mortar chains such as Lowes Hardware, Target, and Walmart: customer returns and what to do with them. Every year, takes back thousands and thousands of customer returns from all over the United States and Canada. These returns must be disposed of somehow, which is where specialist, big-scale liquidation companies step in.
If this is the type of merchandise your business is looking to acquire, where is the best place to buy pallets of Amazon returns near you, and what can you expect when you buy returns from a liquidation specialist?
How Much Can You Make Selling Amazon Return Pallets
If you are meticulous about refurbishing every item in a pallet, then you can make up to a 30-50% profit off every Amazon return pallet that you buy.
But you must research the contents of every pallet. For example, you should look up every item on both the Ebay and the Amazon app to calculate your potential profit.
Evaluate the cost for every piece in the pallet and how much it could potentially sell for and then apply a weighting factor to account for broken merchandise.
With some practice and a little bit of luck, youll eventually develop a set of standard operating procedures to buy and evaluate products to sell.
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Benefits Of Buying Walmart Liquidations
Walmart is the number one retailer and keeping that reputation is very important. Direct Liquidation is a platform looking to provide the best services to its customers. The combination of the two brings a level of quality to the deal that you cant ignore.
Liquidated merchandise is mostly customer returns. But not all customer returns have been brought back to the retailer because of faults or blemishes and damage. Some customers take full use of the generous money-back policy and return merchandise within that period for a refund or new stuff. Some items get returned in the original packaging, in brand new condition. And items that have certain faults get inspected, refurbished, brought back to their original condition, repackaged and readied for liquidation.
The best of all is the fact that you can buy exactly the merchandise you need at prices below wholesale. And you are even given the opportunity to buy from a distribution center near you. Basically, you are giving yourself every chance to maximize the return on your investment.
If quality is still of concern to you, here are a few more facts about liquidated Walmart merchandise. Once it is inspected and refurbished, the retailer slaps on an extended warranty and a new 30-day money-back guarantee. This is the confidence they have in the quality of their merchandise which means you are safe to buy and resell these items for a significant profit, listing them basically as new.
Direct Liquidation is a goTRG company.