As a liquidation buyer, you have a handful of different lot sizes to choose from. This means the quantity you purchase can range from a case pack or single pallet to multiple pallets that can fill a truck. Liquidation truckloads are a cost-effective way to purchase large amounts of inventory at once–directly from retailers or manufacturers. In this article, we go over some of the benefits of liquidation truckloads. Plus, we review some important considerations to make before you bid on a truckload auction, like the amount of capital you need and a plan to accommodate higher quantities of inventory.
How much inventory is in a full truckload?
The short answer: it depends. In a full truckload, the trailer is dedicated to one shipment only. 24 pallets are usually the standard amount of freight in an FTL. However, this shouldn’t be confused with item quantity. One single appliance truckload can hold anywhere from 50 to 100 different washer/dryer units, refrigerators, and other major appliances. On the other hand, one single apparel truckload can have hundreds to thousands of different products in various SKUs.
What are the benefits of liquidation truckload auctions?
Larger product offering
A key benefit of purchasing liquidation truckloads is that you can branch out into different categories. For example, if you already carry home improvement goods, you can add appliances to the mix. Expanding your inventory with items that are often sold together would make the most sense to your customers.
Attract and retain customers
By offering products that complement each other, you position your business as more valuable to customers. Following the same example as above, now DIYers and contractors—or whoever your customers may be—know they can come to your store for appliances they may need. What fits better in a renovated kitchen than a new or lightly used refrigerator? You eliminate the possibility of shoppers heading to the next store to make their other purchases.
If you can offer more inventory, naturally you have the potential to make more sales. You can only sell as much inventory as you have on hand!
One important note is to make sure you don’t sit on inventory. If you bite off more than you can chew, so to speak, then you may run the risk of products losing value over time or reaching their ‘sell by’ date. So make sure you promote your products accordingly and are ready for the increase in inventory.
Save on per unit costs
When you buy more liquidation goods at once, you end up saving on the per unit cost of the merchandise. For example, truckload buying can save on per-unit costs with more efficient stacking of appliances. When you purchase goods in bulk, you pay less than shipping each individual item or series of items.
Less frequent ordering
Instead of dealing with the logistics of multiple LTL shipments, you can just focus on one. With a truckload purchase, you won’t have to spend time or money placing several smaller orders. Plus, you’re able to wait longer between orders.
Before you bid on liquidation truckload auctions…
Take a look at the budget
Liquidation truckloads may require more of an upfront investment than you’re used to—but think of the potential profits they can yield! Remember to take a look at the manifest to calculate how much you’re willing to bid. Take into account the estimated retail value of goods, quantity, and the current going rate on the secondary market.
Consider inventory management
Getting more inventory at once comes with its benefits, but you want to make sure you have a way to manage that amount of inventory. There are inventory management systems that you can use to do so, but make sure you are familiar with the program and tools yourself or have someone in charge of maintaining them. Proper inventory organization is crucial so you know what’s in stock, running low, and what needs to be ordered.
Think of storage
Generally, residential deliveries are prohibited as a buyer must have access to a receiving dock for full truckload shipments. This means you will need to ask a few key questions about space and storage.
- Do I have the necessary equipment and staff to unload pallets?
- Do I have processes in place to sort, test, and recycle inventory (if applicable) in larger quantities?
- How much physical space will it take to store inventory?
- Do I have enough sales floor space to display goods?
For information on how shipping works with full truckloads, download our infographic.
Plan for how you will sell inventory
More inventory to move calls for new and innovative ways to promote your products! If you have your own warehouse, you can advertise a warehouse sale where customers stop and shop in person. If you’re an online seller, there are tons of advertising opportunities at your disposal through Facebook, Instagram, Google, and email.
How to find the right liquidation truckload auction
Search by retailers and manufacturers whose products you know would interest your customers. If you have a primarily apparel-focused discount store, then you probably don’t want to shop for Best Buy liquidation truckloads full of appliances!
Browse our private retailers’ marketplaces to find the right liquidation inventory you need.
You can search exclusively for full truckload (FTL) auctions, or also less-than-truckload (LTL) auctions. If you aren’t sure you can manage all the inventory that comes in a full truckload right now, there are still LTL auctions available ranging from one to 12 pallets! It would be wise to work your way up to larger orders until you’re sure you can efficiently manage and move your inventory.
If you have a great demand for name-brand apparel overseas, there’s a truckload auction for that. Or perhaps you’re the neighborhood appliance dealer? There are appliance truckload auctions from leading retailers and manufacturers like Best Buy, Costco, and GE. If you want a little bit of everything, embrace the thrill of the find with unmanifested truckloads.
Find and buy liquidation truckloads on B-Stock!
On B-Stock, there are liquidation truckload auctions for buyers across all categories and conditions! You can save on shipping costs by going with one truck versus a few LTLs, grow your product offering, and attract new customers. With access to auctions opening daily, you will have no shortage of inventory. Register today and start buying liquidation inventory on B-Stock!
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