In 2020 online sales climbed 4% and represented 14% of total retail sales. Now this may not seem like a large percentage, but when you consider how quickly it is growing each year this is huge. It is projected that by 2030 one third of all retail sales will be online and wholesale closeouts will represent a growing part of this number. This is good news for wholesale liquidators and closeout wholesalers who sell discontinued inventory to bargain shoppers and discount buyers online.
You can join the ranks of wholesale liquidators who sell surplus inventory online, but it will require you to gain an understanding of how today’s consumer shops over the internet and what they buy online. Not all wholesale closeouts are good candidates to be sold online, but many items are good enough if they are properly marketed or bundled together. Today’s online shopper is eager to find deals on closeouts, so if you can present them in a way that appeals to the consumer you should have success selling online.
When adapting to sell surplus inventory direct to consumers, it is important to keep in mind what today’s online shopper is looking for. They want affordable, high quality products that will improve their lifestyle and simplify their lives or at least make things better. Closeout wholesalers selling wholesale closeouts on Ebay, Amazon or other online platforms can do very well if they understand what sells well and at what rate it sells. To be successful and to sell surplus inventory online, you have to have a basic understanding of retail products, but a thorough understanding of the consumer’s online buying patterns can be much more valuable. Selling online is much different than selling in brick and mortar stores, especially when it comes to selling closeouts and other overstock or obsolete inventory.
Closeout wholesalers who sell online are learning they can do business without the expense and stress of dealing with landlords, employees, store clerks, insurance, and many more costs that are not incurred when selling closeouts online. We are living in a changing world and one of these changes gives every business owner the opportunity ride the wave and grow their online sales.