A closeout liquidator is a firm that buys up all or most of other firm’s closeout stock and sells it to retailers or the public. When businesses need to unload merchandise to accommodate new products, they offer closeouts. Even though the goods sold by closeout liquidators are sold in bulk, retailers and other resellers prefer to buy it directly from them as they are assured that middle men are not a part of this process. Services of closeout liquidators are opted by companies who want to clear older inventories and create space for new products. Liquidation companies offer low prices for the goods they buy from the companies. However, they undertake the responsibility of transporting the goods. One of the important reasons for companies hiring the services of closeout liquidators are they help to recoup money from inventories that can no longer be sold for a profit. Rather than take a total loss, merchandise inventories are sold to closeout liquidators to recoup some of the invested revenue.
In today’s difficult economic times there are many people looking for ways to purchase the products they need at low prices. Even during good times, it is a good idea to save money. For this reason, choosing to buy with close out liquidators would be a great idea.
Some of the products that are sold by companies to liquidation companies are mentioned below:
• Close or near dated: Generally, some grocery items nearing their sell by date are sent either to a reclamation centre or for liquidation. Some of the goods that are damaged, available in huge quantities are sold to closeout liquidators.
• Customer returns: These are items that are returned by customers due to damage or exchanged with other products. These items too are sold to closeout liquidation companies.
• Insurance claimed merchandise: These are the ‘salvage’ value sold by large insurance companies to liquidation companies. These inventories are usually damaged items, due to fire, flooding or other natural calamities. The money ‘recouped’ by selling to closeout liquidators are used for claim settlement by insurance companies.
• Seasonal products: Some manufacturers also sell seasonal products produced in huge quantities to closeout liquidators. For example, companies sell woolen apparels produced in bulk to liquidation companies, this is done to realize cash from the inventory and prevent further obsoleteness.
Closeouts tend to be a win-win situation for all parties. Businesses make more money by selling their excess merchandise quickly and customers benefit by getting access to deeply discounted items. You can realize cash out of the unused, excess obsolete inventory by hiring the services of closeout liquidators.
Advantages of Buying from Closeout Liquidators