Amazon is one of the biggest online stores in the entire world right now. And it has been at the top of the ladder for quite some time. With over 470 Billion of revenue generated in 2021-22, it remains one of the most frequently used online shopping platforms ever. But have you ever wondered what happens to the products which customers send back?
The returned items end up in large boxes with other such products, and these boxes are called Amazon Return pallets. Regardless of whether the items are in a brand new condition, or have been messed with, they find themselves being shipped off to liquidation companies.
These companies are known for selling refurbished and returned items to customers at a very cheap price. Amazon does this in bulks; they throw the returned items into huge pallets and sell them to liquidation companies through auctions and bidding.
These wholesale liquidation companies in Connecticut then further resell the items at a fraction of the original price. But the catch is that you never know the condition of the products you’re going to get. Hence, there are a few tips that we will share today, to help you have a good buying experience.
- Choose a good liquidation store or company
When buying Amazon overstock return pallets online, it all starts with knowing WHERE to buy from. In this age, one can find almost anything on the internet. Things which in previous years would be unknown to most people, are just a few clicks away.
Hence, obviously the selling and purchasing of Amazon return pallets takes place in location-stores and online as well. There are a large number of wholesale liquidation stores and companies which sell Amazon return pallets online through their websites.
But for individuals who are new to the reselling scene, it can be a little overwhelming to wade through the plethora of sites and things to know and learn. So here are some companies which are well-known and trusted by a lot of Amazon resellers all over the USA and the world:
- 888 lots
Individuals can also buy directly from Amazon liquidation auctions, about which you can find more information here. (insert link to the 8 places to buy amazon return pallets article)
- Understand how the company works
Although all these companies provide the same or similar services to interested resellers, but they still function differently. With different websites, different categories and different ways to sell products. While most such liquidation stores hold auctions for the pallets, where the highest bidder takes the win, certain other sites offer pallets directly at discounted prices.
So make sure to understand which method and company tends to all your needs and meets your financial requirements, all while maximizing your profits. Another reason why choosing the perfect company for you and understanding it is important, is some companies also provide additional benefits and features for their customers. 888 Lots for example, has cool features like the Mystery Pallet, the Negotiator, etc.
- Know what to look for
With some liquidation companies selling products in over 30 categories, it is important to know which category could be in the best condition, and which could bring you more profits.
The categories that these companies have include Electronics, Office utilities, Toys, Clothing, Shoes, and so on and so forth. While electronic items sell at higher prices, you also have to consider the risk of getting damaged items, as electronics are more fragile than some other categories. The products could have been pre-used or damaged during shipping.
- Understand the expenses
With bids on pallets ranging from around a 100$ starting price on some sites to over 12K dollar bids on others, you need to know and understand the expenses of bidding and shipping of the pallets. To ensure you stay in budget, be sure to calculate the bids and shipping prices as you go.
For beginners, it is better to start off with less expensive pallets, since you will be at less of a risk that way. As you sell more and earn more, you can then buy bigger and more expensive pallets.
- Know where to sell
While buying the pallets from trusted companies is important, what comes after that is also of grave significance. Usually, Amazon resellers can choose to resell the returned or refurbished products locally, or online through shopping sites like Ebay. These ecommerce sites provide resellers with a good platform to showcase their Returns inventory and make profits through their businesses.
- Know HOW to sell
Knowing how to sell products is an important part of being a businessman. Even if people know they are buying a used/returned/refurbished item, a properly packaged and wrapped product would sell better than a product looks like it has seen tough times.
People judge the appearance of the products before going through its specifications, because what we notice first is how the product looks like. Hence, make sure the product pictures on the site and the product itself are in a good condition and look the part as well.
- Expect some disappointment
This is perhaps the most important tip of all. Amazon return pallets contain goods which may or may not be in the best of conditions. Sometimes, items which have been used and damaged are thrown into the pallets and sold to liquidation stores or companies.
Which means that there is a decent chance that you might get items in the pallet which are broken, torn, or sometimes even unusable. This is a risk that lies within the process of buying and selling Amazon returns, and it needs to be borne by the reseller.
But don’t let this demotivate you. Often times, you can repair and sell products and earn profits from those too. While some other times, the product is in too bad of a condition. In which case, there is no use of repairing it.
These are some basic tips which could help your reselling journey start smoother. This is still just the tip of the iceberg though. Eventually, you will learn that there are tons of tips and tricks which can help you earn better profits.
Reselling of Amazon return pallets is indeed a profitable venture. Not only for resellers, but also for the customers who get borderline fantastic and most of the time, unused products at a fraction of the original price. And it also helps companies get rid of their overstocked inventory. Pretty much a win-win situation