With steady growth in the number of online businesses, there is a growing demand for better customer service. One of the important services by retail businesses is customer returns.
Customer return policies were created for customers who are unhappy with the purchased product or have changed their mind regarding a product and wish to return the product for a replacement or a refund.
For 2021, there were over $761 billion in sales in the U.S., of which $218 billion was from online sales. Of every 1 billion sales about 16.6% was returned causing the retailers to lose thousands of dollars.
And returns are a great way to improve the customer experience and trust so these retailers find themselves in a mess. To cut losses and offload excesses, retailers sell these customer returns in bulk pallets even without inspecting these products.
The liquidation market offers some of the best prices for your business and pallet returns can contain a wide range of items in different working conditions.
A common question we get asked is what are return pallets vs liquidation stock? The two terms are often used interchangeably, but there is one key difference.
Return pallets are generally used to refer to products that were returned by an end customer. On the other hand, liquidation inventory generally applies to retailers who sell products with low sales and/or high storage fees to avoid disposal and storage fees. Liquidating excess inventory is used as a smart way to make a net profit.
One can buy customer return and liquidation pallets from any authorized wholesaler. Most of the time, you won’t be able to purchase liquidation stocks from big companies like amazon or eBay directly. Rather, you deal with popular wholesale liquidators like 888lots who buy from some of the biggest retail giants in huge lots and pallets. These products are then sold to buyers like yourself.
There is a certain amount of risk involved in buying pallets. It even gets riskier when you realize that there are so many companies that sell customer returns. To be safe, you should only buy liquidation pallets from authorized dealers who have good rating and reviews. To get those in liquidation wholesale is even harder as sometimes the products are not new. To overcome this hassle a liquidation wholesaler should have excellent customer service and awesome deals.
888lots is a liquidator in Linden, New Jersey with an impressive track record. 888 Lots provides great supplies, at excellent prices and have a user-friendly website user interface that makes buying a breeze. If this is your first time buying returned items, 888lots is the best place to begin.
When buying pallets, it is important to pay attention to their status. Not all websites provide details about the status, but you should ask so you know what to expect. In most cases, however, pallets are classified according to their quality and status.
These are returned pallet items that are unused and unopened. They are usually the best thing that can happen to you. The products in this lot present a unique opportunity to increase your profit margin if you plan on reselling. In a brand new box, you get complete sets with no missing or damaged accessories or parts.
It isn’t unusual for boxes to be damaged during shipping, storage or by the customer ripping open the box and then returning the item in a complete set. These items aren’t expected to have any problems.
Inspected Customer Return:
These returns were inspected when returned to the fulfillment center. This adds a degree of comfort because the product can be used normally and should function as recommended by the manufacturer.
Uninspected Customer Returns:
These are the most controversial hampers you can imagine. The items in it can come in any quality and status. One could expect working items in the pallet, but often there are also damaged products, missing parts, signs of use, and general malfunction.
Although this sounds like something many wouldn’t want to buy, repair shops target this grade of customer return products. A pallet of poor-condition products contains good products, missing parts, and malfunctioning products. Buyers sort and fix what they can. For items that are unrepairable, strip them for spare parts.
There are a lot of opportunities for making a profit when purchasing return pallets from 888lots. Wholesalers get all the information you need to estimate prices and profits, not only for whole lots but also per product in the pallet. 888 Lots as rule of thumb delivers Brand New Products for Items, Lots and Truckloads. After a completed registration you will get a sales executive which will answer any questions you may have and help you with shipping details.