It’s the most wonderful time of the year for BULQ buyers and resellers alike. The holiday season is just around the corner, and whether you decide to buy pallets or cases, now is the time to start holiday liquidation sourcing.
If you’re new to liquidation or haven’t quite started reselling full-time, there’s no better time to start than ahead of the holidays. After all, everyone is on the lookout for gifts, especially when they can get a good deal. We’re sharing why liquidation sourcing is key to building up your inventory and boosting your business before the holiday shopping season begins. Check out these tips for success this holiday season and beyond.
Set Expectations for Holiday Liquidation Sourcing
If you’re just making the leap from reselling items you own or find at a flea market to buying liquidation, we suggest starting with cases. Reselling expert Kerry Franciscovich shares how starting small with cases can help you get familiar with the inventory and the buying process.
Sourcing smaller lots is a great way to learn more about liquidation and what inventory works best for you. This will help determine if you want to eventually scale up to pallets and truckloads.
We recommend that first-time BULQ buyers source inventory that they’re comfortable reselling, too. It’s better to choose a category that you’re passionate about or have some previous knowledge on. This will make the entire listing process easier and allow you to set realistic business goals.
Also, be sure to educate yourself on the conditions BULQ offers before making your first purchase so you know what to expect. While the price of an Uninspected Returns lot may seem right, keep in mind that the condition of these items is unknown, so there’s more risk involved. These are often customer returns or shelf pulls and could show signs of wear or even scratch dents. We suggest sourcing New condition lots as these items are fully functional and will be more retail ready!
Do Your Research
Speaking of sourcing cases and determining the condition that works for you, once you’ve found lots that you’re interested in, make sure to do your research! The number one tip for sourcing liquidation from reselling expert Chris Schatz is to research the items listed on the manifest.
BULQ is different from other liquidation companies because, prior to checkout, we provide resellers with a complete manifest, which is an itemized list of exactly what’s included in that lot. It’s here that you can find the product name, brand (if available), quantity, UPC (Universal Product Code), and an estimated retail value of the items.
Although pricing is provided for each item in the lot, we recommend researching the UPC of the items to find the current retail values. This way, you have a general idea of the profit you can make off of the lot.
If you have any questions about how to read the manifest or about the items in a lot, you can always contact our Customer Care team via email at firstname.lastname@example.org, chat, or phone (844-311-2857).
Keep it Busy, Keep it Moving
Another reason liquidation sourcing is vital to your success, especially leading up to and during the holiday season, is that it allows you to have more inventory on hand. When you source liquidation, you’re opening yourself up to incredible finds in bulk that get delivered straight to your door. You don’t have to scour your closet, garage sales, local marketplaces, or second-hand stores in order to find great deals and profitable items.
Another way to bring customers to your shop and keep inventory moving is by building up your digital storefront. This is one of the biggest keys to success in reselling as customers tend to gravitate towards stores that appear fully stocked and provide a variety of options.
Be sure to draft your listings across multiple marketplaces ahead of the shopping rush, so they’re ready to go once holiday promotion time comes. Taking good photos, pricing the items right, and marketing yourself are great ways to get shoppers to view your listings.
When you’re ready to start sourcing liquidation and liquidated merchandise, head on over to BULQ.com. There you’ll find the right product categories for your business. We have options ranging from toys & baby and home improvement to general merchandise and clothing & apparel. Plus, subscribe to our emails for bonus discounts and promotions leading up to the holidays.
If you found this blog post helpful, be sure to check out some of our other resources for first-time BULQ buyers:
- 6 Tips for First-Time BULQ Buyers
- BULQ Breakdown: How to Prepare for Holiday Selling
- ‘Extreme Unboxing’ Explained: How to Become an Online Reseller
Follow BULQ on social media for additional tips, reseller stories, and more: