What To Expect In 2024. Will Closeouts And Liquidations Lead The Way?

2024 is expected to be a year of continued growth for the closeout, excess inventory, and overstock liquidation industry. Several factors are contributing to this trend, including:

• The continued economic recovery: As the economy continues to recover from the COVID-19 pandemic, businesses are becoming more optimistic and are increasing their inventory levels. This is leading to an increase in excess inventory and overstock products which is creating opportunities for liquidators to purchase and resell these goods at discounted prices. As the supply chain corrects itself, there are more products flowing into the United States, filling more 3PL warehouses with inventory, and eventually leading to businesses getting stuck with extra inventory, excess stock, closeouts, and unwanted inventory to clear stock from the warehouse.
• The rise of e-commerce: E-commerce has made it easier for closeout liquidators to reach a wider audience and sell their overstock inventory, closeouts and liquidation and excess goods to a larger pool of buyers. This is increasing competition in the industry, which is driving down prices for buyers. Not everyone can run a successful inventory liquidation business, but the ones that have been at it for decades seem to be getting better and better at locating deals on overstock products that need to be liquidated for cash. There is more unwanted product on the market today due to the growth in online sales, expansion or big box retail stores, and the supply chain issues from a few years ago. Whether you are liquidating excess inventory because you are shutting down operations or if you just have too much dead stock in the warehouse and need space for new product arriving, there are closeout buyers ready and able to buy entire liquidation inventory in one fell swoop.
• The increasing focus on sustainability: Consumers are increasingly concerned about the environmental impact of their purchases. This is leading to a demand for sustainable products, which can be sourced from liquidators who specialize in selling closeouts, excess inventory, and overstock goods.

Based on these trends, here are some of the things you can expect in the year 2024 for buying and selling closeouts, excess inventory, and overstock liquidations:

• Increased supply of goods: There will be a continued increase in the supply of closeouts, excess inventory, and overstock goods in 2024. This will create more opportunities for buyers to find great deals on the products they need.
• Lower prices: Prices for closeouts, excess inventory, and overstock goods are expected to continue to decline in 2024. This is due to the increased supply of goods and the increased competition among liquidators.
• Greater availability of sustainable products: There will be a greater availability of sustainable products in the closeout, excess inventory, and overstock liquidation market in 2024. This is due to the increasing demand for sustainable products from consumers. However, this does not mean the consumer is not still primarily interested in the best deals. With the increase in food, housing and almost all other discretionary costs, consumers are turning to closeouts, overstock inventory and excess inventory more than ever, as a way to help get the most from their hard-earned dollars. Companies that liquidate inventory are also very busy these days, buying and selling all types of overstock liquidations that due to businesses shutting down operations and downsizing warehouse space to save money. Slow moving inventory needs to be liquidated to make room for new products that are profitable. Many companies located in other countries with inventory in the U.S. need to clear stock from the warehouse in an effort to get rid of dead inventory that is not selling. Liquidating excess inventory can be one of the best ways to help the company’s bottom line.

Here are some additional tips for buying and selling closeouts, excess inventory, and overstock liquidations in 2024. These apply whether you are running a closeout website selling discontinued inventory direct to consumers, or if you are a large wholesale inventory liquidator buying large closeouts for resale to other excess inventory buyers and retailers that specialize in liquidation sales.

• Do your research: Before you buy any closeouts, excess inventory, or overstock goods, it is important to do your research to make sure you are getting a good deal. This includes understanding the condition of the goods, the pricing, and the shipping costs. Closeout brokers understand all these factors because they have to deal with them every time they buy excess inventory or help a business with an inventory liquidation sale. The closeout process is often the same, but research is always necessary.
• Be selective: Don't buy everything you see. Only buy goods that you can sell at a profit. This means if you only do well selling closeouts of pet products like closeout dog collars, closeout dog leashes and excess inventory of pet beds, you should concentrate on this. Let another closeout buyer deal with the categories you cannot use. If you have tried buying excess inventory of housewares in the past and didn’t do well, focus on your strengths. There will always be all kinds of overstock products on the market including excess inventory of lawn and garden goods, closeout tools, closeouts on children’s toys, etc.
• Negotiate: Don't be afraid to negotiate with liquidators to get the best possible price. Sellers understand that when they are liquidating excess inventory and closing out products, they will only recover a small percentage of the original cost. It is important to keep this in mind when buying overstock from a warehouse or inventory liquidator. Selling closeouts can be a challenge if you overpay, and you may have to sell closeouts below cost if you make a mistake. If you need help finding a reliable closeout partner, you can go online and do a simple Google search using terms like these: closeouts, closeout buyers, inventory liquidation buyers, selling excess stock from warehouse, clearing stock from U.S. warehouse, we are out of business and no longer selling, shutting down operations, downsizing 3PL warehouse, clear out warehouse space for new products, etc.
• Sell your goods quickly: The longer you hold onto closeouts, excess inventory, and overstock goods, the more likely they are to lose value. It is important to sell your goods quickly to maximize your profits, create cash flow, and buy more closeouts. Dead stock sitting in the warehouse is not making any money. Buying and selling closeouts, turning goods, and giving your customers new deals on overstock inventory and closeout merchandise is profitable.

The closeout, excess inventory, and overstock liquidation industry is expected to continue to grow in 2024. By following these tips, you can take advantage of the opportunities that this industry has to offer. Merchandise USA has been in the closeout business buying and selling liquidation stock for more than 38 years. We have a large warehouse in Chicago, filled with excess inventory and liquidation products from all consumer categories including closeout housewares, closeout pet products, liquidations of home accessories, hardware, tools and sporting goods. We sell to closeout distributors, closeout websites and discount retailers interested in providing their customers with the best values on discontinued inventory, excess inventory and closeouts below original cost.