The electronic goods segment is a steadily growing one across retailers around the world. With increasing disposable incomes, everyone wants to try out the latest gadget or purchase goods that’ll make their life more convenient.
For a seller, this is fantastic news. Moreover, unlike consumer goods, electronics goods don’t have a “best before” date. Hence there’s no pressure to offload your inventory any time soon.
Making maximum profits
In the end, your profit depends on how cheap you can procure your inventory. Traditionally, spreads on electronic goods tend to be really low especially if you aren’t purchasing them wholesale. What this means is that you won’t get a cell phone for a deep discount unless you purchase several pieces in bulk. Now this creates a hurdle because you’ll need to sell ALL those pieces in order to make your profit.
Selling multiple goods of the same kind is a challenge. When you stock several pieces of the same model, you run the risk of making your inventory less diverse and the capital invested in these goods cannot be successfully deployed elsewhere.
This is where purchasing electronic goods inventories from wholesale liquidation companies is a great idea. This is especially true if you purchase one of their wholesale liquidation truckloads.
The reason for that is these goods tend to be heavily discounted. Often these are electronic goods that are either overstocks or consumer returns from large retailers. Therefore, most of these goods are unused and come with their original tags and packaging. Due to this, you easily get brand-new products for a fraction of their market price.
The other advantage with buying an electronics liquidation truckload is that you get a massive variety of goods in one shipment. Therefore, instead of being weighed down by multiple pieces of the same kind, you get different kinds of goods that you can sell and ensure diversity in your online store.
Now what’s the flip side? There’s isn’t a major one really except for a few tips that you should ideally follow to get the best deal.
Pick the latest goods
Often, a truckload might contain overstock items that are slightly older. Usually when a new model is launched by a manufacturer, the older ones are liquidated by the retailer. Often some of these goods would end up in a liquidation truckload.
Now mind you: these are perfectly awesome products that work super well. However, the demand for them might be slightly lower since a newer version is already out in the market.
Therefore, in order to maximize your margins, check the manifest of the truckload and pick one with newer goods.
Margins or volumes
In order to make a profit selling electronic goods you either need to ensure that (a) your margins are high or (b) you sell in higher volumes.
For higher margins, you’ll need to ensure that your cost price is extremely low. Thats where liquidation companies help since you can purchase your inventory at a massive discount. If you’re selling in higher volumes, you need to ensure that you purchase products that have a high demand. Usually, the cheaper the product, the easier it is to sell it in bulk.
Choose your liquidation company carefully
Wholesale liquidation is a growing business and there’s an increasing number of players in the market. Therefore, you need to ensure that you choose the best possible liquidation company in order to have the coolest discounts. Moreover, a good liquidation company also offers you a diverse range of goods along with a dedicated customer service to answer all your queries.
Picking a major wholesale liquidation company and sticking with them for all your inventory needs is a good strategy.
Some work but great results
Following these tips will help you build your electronics business online with minimum hassle. Once you analyze our audience demographic and pick the right type of goods needed, getting them at a discount is super easy thanks to wholesale liquidation websites.