Some Secrets to Success with Liquidation and Closeout Merchandise

What dollar store owner doesn't want to save money on the wholesale merchandise they purchase for resale?  Buying products while they are on sale from your main supplier is a good way, but liquidation and closeout companies can offer you even more savings.  Here are some secrets to success when going this route.

Appearances play a large part in sales.  If the product packaging is ripped or torn, the customer would be less likely to buy the item, even if the item itself is still in good condition.  Therefore, make sure you examine all of the liquidation and closeout wholesale merchandise before you make the decision to buy.

Although some people may be tempted to buy your merchandise, they still may be hesitant to make the final purchasing decision.  You can help put them at ease by offering a guarantee.  This would negate the risks of buying the product since they could get their money back if it is not what they expected.  Make sure you make it as easy as possible for your customers to get their money back if a refund is requested.

Other customers will be hesitant to buy certain liquidation and closeout merchandise if they do not know much about it.  In that case, you should offer great customer service and help them out.  Help them closely examine the closeout and liquidation merchandise which is on display.  This goes a long way toward helping shoppers make the buying decision.

You may want to take things a bit further since some customers want to do more than just look at merchandise before buying it.  They may want to see how it operates.  You can help out these types of customers by setting up a test center for them to try out certain types of merchandise.

Whenever you buy liquidation and closeout merchandise, it is vital for you test before trying to sell it.  You do not want to put anything on the shelves which is defective.  If certain products make use of batteries, then see if they are still functional.  You can replace dead or nearly dead batteries yourself.

This type of merchandise is typically cheaper than wholesale merchandise you purchase from your traditional suppliers.  You can get even more savings by buying from liquidation and closeout companies at certain times. 

For example, you can shop for Christmas items in May or June when companies are trying to get rid of the wholesale merchandise at any cost.  Just make sure you have enough room to keep the merchandise in storage until it is time to put it on the shelves.