When Chips Are Down - Closeouts As a Solution
With the looming global recession and prices of commodities changing on a daily basis, attaining a lifestyle complete of the things we need is now turning into a dream.
What we used to afford have suddenly become the luxury preserve of the rich.
Gas and oil prices are going up week after week driving commodity prices upwards in the process.
This only leaves us with the option of highly prioritizing when it comes to our expenditure.
All those brand name clothes, house wares and electronics that we love so much, have to give way to cheap and generic brands to allow us to get the most out of our Dollar.
And those are not exactly what we desire.
Such is the sad reality of life nowadays.
The big question is how do we deal with this sad situation that we find ourselves in? The logical solution is to resort to closeout products or liquidated merchandise as some might call them.
Closeouts have been around for a while though somehow ignored over the years due to a thriving world economy.
But what are Closeouts or Liquidated merchandise, one might ask? Liquidation technically refers to the process by which a company or part of it is brought to an end and the assets of the company redistributed.
Liquidation can also mean converting an asset into cash.
Well, with liquidated merchandise, companies (retailers, manufacturers and wholesalers) will actually sell off some items in bulk at very low/discounted prices for different reasons.
So liquidation/closeout merchandise doesn't necessarily mean the companies are going out of business.
The following are the different types of liquidated merchandise; 1.
Overstock/Surplus This is merchandise that is in excess of what the company needs or can sell.
Companies occasionally will stock more than their normal requirements in anticipation of more sales during holidays or certain events and when the sales don't meet expectations they are stuck with excess stock that they need to get rid of.
2.
Customer returns When customers return any item they bought from a retailer, that item can not be returned to the shelf and ends up being 'liquidated' and sold at a discounted price to a closeout retailer.
3.
Salvage/Distressed Just as the name implies, these are items that are salvaged from Damages by fire, floods and those that suffer distress during transit.
4.
Bankruptcy These are merchandise from companies that went bankrupt The bottom line is liquidated merchandise are cheaper without compromising on quality.
I mean 60-80% off the retail price is cheap.
So which means you can still have your brand name products but not pay the brand name price.
This will save us a lot of money which will obviously come in handy.
A lot of stores today sell these merchandise even online retailers and you have a choice of a variety of electronics, home appliances, gadgets, collectibles and apparel.
Even if you are a retailer there are a wide range of suppliers both offline and online where you can source the merchandise at wholesale closeout prices to sell at your store.
The majority of these items come from well known Manufacturers, Department Stores and catalogue companies.
What we used to afford have suddenly become the luxury preserve of the rich.
Gas and oil prices are going up week after week driving commodity prices upwards in the process.
This only leaves us with the option of highly prioritizing when it comes to our expenditure.
All those brand name clothes, house wares and electronics that we love so much, have to give way to cheap and generic brands to allow us to get the most out of our Dollar.
And those are not exactly what we desire.
Such is the sad reality of life nowadays.
The big question is how do we deal with this sad situation that we find ourselves in? The logical solution is to resort to closeout products or liquidated merchandise as some might call them.
Closeouts have been around for a while though somehow ignored over the years due to a thriving world economy.
But what are Closeouts or Liquidated merchandise, one might ask? Liquidation technically refers to the process by which a company or part of it is brought to an end and the assets of the company redistributed.
Liquidation can also mean converting an asset into cash.
Well, with liquidated merchandise, companies (retailers, manufacturers and wholesalers) will actually sell off some items in bulk at very low/discounted prices for different reasons.
So liquidation/closeout merchandise doesn't necessarily mean the companies are going out of business.
The following are the different types of liquidated merchandise; 1.
Overstock/Surplus This is merchandise that is in excess of what the company needs or can sell.
Companies occasionally will stock more than their normal requirements in anticipation of more sales during holidays or certain events and when the sales don't meet expectations they are stuck with excess stock that they need to get rid of.
2.
Customer returns When customers return any item they bought from a retailer, that item can not be returned to the shelf and ends up being 'liquidated' and sold at a discounted price to a closeout retailer.
3.
Salvage/Distressed Just as the name implies, these are items that are salvaged from Damages by fire, floods and those that suffer distress during transit.
4.
Bankruptcy These are merchandise from companies that went bankrupt The bottom line is liquidated merchandise are cheaper without compromising on quality.
I mean 60-80% off the retail price is cheap.
So which means you can still have your brand name products but not pay the brand name price.
This will save us a lot of money which will obviously come in handy.
A lot of stores today sell these merchandise even online retailers and you have a choice of a variety of electronics, home appliances, gadgets, collectibles and apparel.
Even if you are a retailer there are a wide range of suppliers both offline and online where you can source the merchandise at wholesale closeout prices to sell at your store.
The majority of these items come from well known Manufacturers, Department Stores and catalogue companies.
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