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Different companies or programs may use varying product definitions to describe the condition of the goods being sold. Terms such as Liquidation, Salvage, Closeouts, Shelf Pulls, Overstocks and Returns are often used in the liquidation industry. We use the umbrella term Liquidation Merchandise to describe any kind products which are being liquidated. At Via Trading we use 9 different general product conditions to group and describe the products we sell:
Customer Returns are items that were once sold from the store (or website) and are then returned by the consumer in varying conditions.
Sometimes also referred to as Salvage Goods, Customer Returns are typically items that have been purchased from a store (or online store) but then returned by a customer. Stores have varying individual return policies as well as product liquidation policies which can affect the type & condition of products you may see in varying loads. Though policy will vary from store to store – Large Majority of Customer return goods simply undergo a cursory visual check at the store level prior to making their way into a return load. Higher value items may be subject to more thorough inspection prior to being selected for liquidation.
The general “quality” of customer return loads can vary significantly from program to program and it is common that some programs may have a 50% or greater Defective rate while others are only 10% or 20%. Return loads with low defective rates are sometimes referred to as “Clean” Customer Return Loads. Return Loads with very high defective rates are at times referred to as Salvage Loads.
Often, additional internal store tracking or return labels can be found on the items. All customer return goods are always sold with no warranty or guarantee. Any warranties found with the goods are invalid and cannot legally be used. Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular listing.
Many stores do not have separate programs to liquidate customer returns or excess new merchandise & new shelf-pull or overstock merchandise can commonly be found in customer return loads. Via Trading will always define a listing as ‘Customer Returns’ even if it includes a significant % of Shelf-Pull or Overstock Merchandise. Depending on the product category and each stores liquidation policy – working percentages on customer return loads can vary greatly.
Furthermore, working percentage definitions can also vary depending on the category of goods in question. Often when one refers to ‘working percentage’ of products they are referring to the ‘salable percentage’ of the load. (For example if we are talking about a 6 piece cookware set and 1 piece is missing or damaged – though one may consider the item as ‘not working’ or ‘defective’ it still has a resale value and one can still recover a percentage of the product’s original value). Generally speaking, the recognized industry average when trying to estimate working percentages is said to be around 65-75% working, 20% repairable, and the remainder throwaway/scrap/parts, etc.
In practice, no individual load or pallet will have that exact breakdown, but these percentages are fairly representative when describing the average expected condition of the goods when purchasing them regularly. Ultimately, this is a rough approximation and the actual working percentage on any given pallet or load can be much worse or better.
Purchasing Customer Returns and reselling them for profit is a tried, tested and proven concept. However, before launching into a business venture involving liquidation merchandise, you should know that:
Purchasing department store returns is not for everyone. This is not a ‘get rich quick’ scheme. The payoffs are high for those prepared to work hard and put effort in their purchases in order to create the highest possible return on investment. This is a “get-rich” slowly scheme with hard work, dedication & creativity.
In order to maximize your success with this type of merchandise, you need to be prepared to process, test, check and research pricing on the goods prior to selling them. In the long term (and over several purchases), most people in this industry agree that the payoffs and returns are very profitable and that the long-term risk is generally minimal. Liquidation goods and customer returns are normally priced accordingly, and allow you to profit handsomely while still offering your own customers excellent deals on items.
Please do not get this wrong – after all we do not want to discourage you. This is a profitable business for the large majority and the industry as a whole is approximately $100 billion in size. Bottom line is: if you are prepared to put in a fair share of work and effort, then this could be very profitable for you. If not, we do have new overstock items that are typically in better selling condition and require minimal work on your part. More experienced buyers can benefit from our Graded Potential Revenue Calculator specifically designed to estimate your potential revenues from a customer return load filled with a variety of items in different conditions.
New Overstocks are items that were never exposed for sale in a retail setting though they may no longer be in their original master case or factory packaging.
New overstocks, also often referred to as Closeouts, tend to be goods which typically have never been merchandised or exposed for sale in a retail store. Such goods can materialize from retailers, importers, manufacturers or distributors who are closing down or simply have discontinued or excess goods in their warehouse that they need to move. Via Trading also sources & offers liquidation services to freight forwarders, logistics industries, manufacturers, insurance & financial institutions and the like. Overstock goods tend to be in 100% New Condition.
Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular item.
Shelf pulls are items that were already exposed for sale in a retail environment but have been “pulled” from the shelfs and chosen to be liquidated by the store. These goods are typically New and have never been used
Shelf pulls are typically excess goods that have been displayed for sale in a store or online but have never been purchased by a customer. Shelf pulls are typically considered excess inventory from store shelves. In the vast majority of cases, shelf pulls require much less work than customer returns in terms of testing and repairing, but you should expect to have some checking work to do as well as cleaning off potentially dusty items and removing price tags (if necessary) before reselling the items.
Shelf pulls would have been handled multiple times during the process of getting them from the store back to a Liquidator & a small % of items may shows signs of excessive handling & may have stains or slight imperfections.
Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular item.
Irregulars (depending on commodity also referred to as Scratch And Dent) are generally new products that are being discarded or liquidated as a result of improper or defective manufacturing. In some cases this term is also used to describe Furniture or Large Appliances which may have some scratch and dents but are otherwise fully functional. They can also be called “imperfect goods”. In the majority of cases, irregular items have very small manufacturing defects such as the wrong color thread, improper stitching, slight discoloration from the intended item’s color, other minor blemishes, scratches, dents, discoloration or other imperfections.
Via Trading will occasionally offer items that have gone through a testing process and are deemed functional or “tested-working.” These items may be a mix of overstocks, shelf pulls and customer returns and are typically higher end, more expensive units.
Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular item.
Master Case goods are typically 100% new in original manufacturer’s packaging and are fully functional and complete. These goods have not been exposed for sale in any retail environment and products can be considered 100% new and retail-ready.
Via Trading also offers “refurbished” goods for sale on a periodic basis. Refurbished goods are items that have gone through a process to test and restore the items to their original working condition. Often these items are repackaged in generic boxes and may not include all the items found in the original manufacturer’s packaging.
Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular item.
Via Trading will occasionally offer tested not-working or “defective” pallets or loads. Such items are typically higher end electronics which have gone through a testing process, visually defective items, incomplete sets (like furniture, housewares, etc), items good for spare parts only or out of date items. Defective goods have the potential to be profitable if you have the ability to repair or strip them of their parts for resale.
Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular item.
Via Trading periodically offers a pre-worn (used) clothing. These goods can come from a range of sources and are available year-round. Our pre-worn goods go through an inspection process to ensure quality control and offer tremendous value for money for the right market.
Programs vary from store to store – please see listing descriptions and ask your Account Manager for further information on any particular item.
When purchasing liquidation goods and depending on your business needs, it is important to take into account the product consistency or regularity of the goods you are purchasing. The information in this section is general and may or may not apply to you specifically. Each customer is unique and may have his own specific needs, pricing policies, etc. The availability of particular types of merchandise should affect the types of goods you purchase and the way you choose to process, sell and price the goods. Goods available in the liquidation industry can typically be broken down into 3 categories:
Available on a regular basis either immediately or within a few days
Available periodically, significant waiting times between availability
Typically one-time offers on goods which once sold, will not be back in stock or will only be back in stock after a very extended period of time).
Many of our pallets, loads and truckloads are items that we sell on an ongoing basis- meaning we either have them in stock all the time, or we receive new stock very shortly after we sell out. We have dozens of listings like these that we have been offering for years and will continue to offer for as long as they are available.
Consistent ongoing goods are important to note because:
If items can be easily re-purchased, your aim would be to price the items in order to maximize your Absolute profits
Example: say you purchase “X” product for $10. Better buy and sell 100 units for $20 (and make $1,000 gross profit), than to hold out for $25 and only buy and sell 50 units (and make a gross profit of $750).Several loads and truckloads available in the industry are only available on an inconsistent basis and have relatively low and sporadic supply (ex: designer handbags). Non-Consistent ongoing goods are important to note because:
Occasionally, there will be one-off deals which, once sold, will no longer be available again (such as many of our LiquidateNow listings, discontinued models, goods from insurance companies, store/warehouse closures etc). Typically, once these goods are sold, similar deals will most likely not be available again. Such deals can be very profitable and are considered to be opportunistic. Buyers should always aim to maximize their selling price and profit on such purchases as stock is limited and typically there will be little competition and supply of similar items. Furthermore, similar goods cannot be re-purchased so as long as your price is competitive and you can sell the items in due time, there is no need to price them too cheaply.
If it is consistent, regular merchandise that you can order every week, you can make it your bread-and-butter and sell it for cheap and quickly. If the merchandise is more elusive or will not be in stock again after we sell out, you can purchase a larger quantity in one go, or sell it at a higher profit margin to maximize your returns. You can also let your customers know that it is a limited-time-offer product, raising its value and appeal.
New overstocks are typically new goods that have never been purchased by a customer, but that are considered excess inventory from stores for a variety of reasons. The following will explain how purchasing seasonal overstocks can present a great opportunity for eBayers, online vendors and retailers who have some storage space available. Seasonal Overstocks refers to merchandise that is typically sold during a specific season of the year. Outdoor furniture, air conditioners, heaters, winter clothing, summer clothing and holiday decorations are all examples of seasonal overstocks.
Via Trading carries seasonal overstocks at prices significantly below wholesale. You can purchase these products in bulk by the case, pallet, load or truckload. We have found that seasonal overstock merchandise can offer a unique opportunity that no other type of overstock merchandise can. It can be a very good short term investment to purchase these items during their off-season while they are cheaper and more readily available than when they are in season and in high demand.
With a small storage space and some up-front capital, you can purchase a load or container load of seasonal overstock product and hold it for a season. You can then resell it when it comes back into season for a higher profit margin. As such, seasonal overstocks can be a sound short term investment by putting your money into a real tangible asset that will increase in value when the season comes back around.