What is closeout merchandise?
Closeout merchandise is typically available in inconsistent quantities and prices and often is only available to consumers after it has been purchased and resold by disparate liquidation wholesalers. We utilize the Internet to create a more efficient market for liquidation merchandise. We provide consumers and businesses with quick and convenient access to high-quality, brand-name merchandise at discount prices. We believe we are unlike other online liquidators because we focus on multiple product lines, offer a single price (as opposed to an auction format), and serve both businesses and consumers.
In the retail industry, shelf and warehouse space are precious commodities. There are many retailers who cannot afford to have excess product on-hand when new products are arriving daily. They are often willing to sell these items at a loss, well below their wholesale cost so that room can be made for incoming goods. These goods are commonly known as closeout merchandise. Closeout merchandise can come from a variety of sources, but the most common situations are: 1. Factory overrun – More units were produced than the manufacturer originally anticipated on the build order. 2. Out of season / discontinued – A company may want to introduce a new product line and needs to clear out space for new arrivals 3. Overstock – A retailer’s inventory outpaces local demand for the product 4.
