Nowadays everyone is trying to find a side hustle to earn more money. In that regard, operating a retail business is a popular venture, not just in the traditional sense.
We’re talking about investing a couple of hundred dollars to buy liquidation pallets in Canada full of returned items and discarded inventory from large retailers like Walmart and Target.
You can purchase the liquidation pallets from a liquidation store and sell them on sites like Amazon, eBay or even in your own retail store. It is a great business venture for people who have a low budget. You can buy a ton of quality products in mint condition and control the selling prices to earn a smart amount of money. Customers are bound to flock to your store once they see that you’re selling the same products for less than what the original store is charging. It can either be your main business or a side hustle to increase your income.
The best way to source liquidation pallets is on online platforms that sell for fixed prices or through auctions. To check out the best liquidation stores in Canada, you can simply Google “Liquidation stores near me” and get the results.
This article will help you understand how the booming liquidation industry works and how to buy and resell them to earn some big bucks.
Understanding the Way Walmart’s Surplus Liquidation Pallets Work
Walmart is considered one of the largest and most valued retailers in the west. But as their online sales skyrocketed, they also witnessed an increase in customers returning the products after buying. E-Commerce return rates are typically three times higher than that of physical stores.
Walmart liquidation pallets consist of customer returns, shelf pulls, excess stocks and outdated merchandise. And they do not put these products back into their inventory even if the product comes back in pristine condition with the original packaging.
Instead, the items are packed in bulk and liquidated into box pallets and truckloads. Walmart then sells them to liquidation companies through clearance platforms for prices that are lower than wholesale suppliers. Small businesses and resellers in turn buy liquidation pallets from these liquidation companies.
The pallets consist of apparel, cosmetics, merchandise and seasonal products. You can even buy overstocked electronics from brands like Apple, Samsung, Phillips etc.
Sources of Walmart Liquidation Pallets
No matter how high quality the returns are, retail giants like Walmart are not allowed to sell them as new products. This causes backlogging that leads to storage and warehousing problems. This is where the liquidation marketplace comes in with a space to sell the surplus products quickly for lower prices.
Walmart classifies their pallets or truckloads into different types before selling them to liquidation companies accordingly:
Returned Items: There are many reasons why customers return a product. This includes damage during transportation, sizing issues or incorrect product description. Some products return damaged while most are still in good enough condition to be sold as liquidation pallets.
Refurbished Products: These are returned items with issues that are repaired to be functional again and sold under warranty.
Liquidated Store Items: These items come from the inventory of stores that are about to shut down for good. They are then sold through liquidation companies at below the original price.
Surplus: These are brand new products that are stocked excessively but never sold. So they are usually cast out when the specific holiday season ends.
How to Resell Walmart Liquidation Pallets to Make Money
When you buy liquidation pallets or truckloads of products, you’ll end up with a warehouse full of brand new items waiting to be sold. So the next question is where you should sell them.
If your objective is to increase your profit margins, you should know how to pick the right products. The marketplace is very saturated so you need to discover the correct goods to stand out from your competitors.
Here’s how you can sell your Walmart liquidation pallets tactfully and increase your income:
Research Properly Beforehand
The first step is to study the marketplace and strategize. You can also research the kind of products that sell better among customers. When you’re able to identify the market trends, you can move on to selling the products and earn a lot of money.
You can also keep an eye on the Facebook and Instagram Marketplace to identify which retailers are doing well and why.
Start at the Local Level
Some retailers will tell you that the best place to sell your products is on Amazon or eBay. But you should know that these sites will charge some fees, so your profits will decrease significantly. So it might be wiser to start locally and operate your retail store or target social media platforms.
Working in the retail liquidation industry is a convenient way to become financially stable. You can easily buy liquidation pallets and truckloads from Walmart through a reliable liquidation store.
Whether you want to earn a little extra money or work full-time, it is obvious that you can increase your income significantly by reselling the products. The items in the pallets are generally high-quality and branded. So it’s not hard to drive high customer traffic to your store.
What are you waiting for? Buy liquidation pallets even with a low budget and start boosting your bank account.