So you’ve sourced a good deal on some liquidation closeouts (such as shelf pull merchandise, customer returns, overstock, etc) or wholesale products and are now considering the best approach for moving these goods to the end user. You may have considered your local flea market, or perhaps renting some space for a big liquidation sale. Or perhaps you’ve already thought about selling online, and are preparing to list your goods on eBay. While these are all viable options and should not be discounted, you may want to give significant attention to expanding your online presence. I say this today because of a recent Compete report showing eighty three percent of consumers are now doing some online shopping at least once a week. While we all knew that e-commerce has become increasingly mainstream, I personally found that number staggering — I had no idea just how frequently the average person is now shopping online.
Many of you will immediately think of eBay when it comes to selling goods online, as it’s easy to use and it seems that just about everybody already has an eBay account. However, while eBay is a viable option, it’s certainly not the only venue where you can sell online. This is particularly true if you are frequently buying the same kind of wholesale closeouts, as it will ideally position you for establishing your own niche e-commerce store in which to sell your goods to consumers.
While there are some setup as well as ongoing costs associated with opening an e-commerce store, your benefits include having much more control than when you sell through eBay and you are, of course, spared from the large (and often growing) fees that eBay charges sellers. It’s also a lot easier to advertise your own store, which can be done both offline and online. An e-commerce store can also make a great addition to a brick and mortar store and will help you to keep customers that enjoyed your products but prefer to do at least some of their shopping online. You need not be a tech geek to do this, as there are many relatively easy to set up e-commerce solutions available from a variety of providers.
You may also want to consider becoming active in some of the major social media platforms, as consumers are seeking out retailers (and e-tailers!) through Facebook and Twitter. In fact, according to the Compete.com report referenced above, thirty one percent of online shoppers describe using the Facebook pages or Twitter feeds of retailers they’re interested in. This is almost double the amount of users who did so in late 2009. This is an obvious trend that shows continuing trends for growth.
So what kind of liquidation closeouts and wholesale products should you be seeking to get your hands on? Well, there are the obvious, long-established consumer favorites such as movies, music, video games and books. However the truth of the matter is that with more and more consumers turning to the internet, any item you are able to receive good margins on can, should and will be sold online.
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