Chances are, you're aware that there is a massive amount of electronics available for sale online. With that said, you might not know about overstocked, liquidated, and returned electronics.
If you know how and where to find these types of electronics, it can bring your business a lot of profits. Unfortunately, there's a lot of misinformation out there about these types of electronics. We're here to make things simple.
In this article, you'll learn more about:
The benefits of buying overstocked electronics
Why it's beneficial to buy returned electronics
The advantages of buying closeout electronics
The best places to buy electronics online
Where you can resell your electronics
Overstocked Electronics
As you start buying electronics, you might come across lots of overstocked merchandise. If you're new to reselling electronics, this might seem like an unfamiliar term. Fortunately, overstocked electronics are fairly easy to understand.
The simple definition of overstocked goods is any item that companies have too much of. Being overstocked on merchandise can happen to a business for a wide variety of reasons.
Sometimes, a company's purchaser can simply make a mistake while placing orders. If they end up buying too much of something, this business will have overstocked merchandise.
Overstock situations can also occur when a company predicts a lot of demand for an item, only to realize that the same level of demand isn't there when products arrive on store shelves.
Overstocked merchandise is a bigger problem for companies than you might think. Research shows that overstocked goods cost the global economy about $1.1 trillion... every year! Considering how expensive overstocked items are, it's no wonder why companies want them sold and out of their warehouses fast.
Overstocked merchandise typically has the exact same qualities as new items. That means it's brand new, never opened, and in excellent working condition (which is why companies are willing to purchase them). Buying overstocked items gives you access to thousands of dollars in electronics without having to pay full price.
Why Should You Resell Overstocked Electronics?
One of the first reasons to buy overstocked electronics is due to their low prices. Since retailers want overstocked merchandise sold quickly, most of them will price these items extremely low. With some stores, you can save up to 70% or more when buying overstocked items.
The next advantage of most overstocked goods is that they're brand new. Many overstocked items arrive at a company's store or warehouse in brand new condition and stay that way. If you find lots of overstocked electronics for sale, you're likely getting all new items.
When you combine the perfect condition and low prices of overstocked electronics, it's easy to see why they're so popular among electronics resellers.
Returned Electronics
We're sure you can remember a time when you needed to return an item. If you recently purchased something that needed to get returned, you're definitely not alone! Many people return items to retailers.
There are also many reasons why someone might return an item. Some people return items because they made a mistake during the order process. Other people might return something after they decide they no longer want it.
Are you detecting a pattern? In most cases, people return items that are in perfect working condition. This is something that smart electronics resellers take advantage of. It's not always the case, but if you can find like-new returned electronics, you're likely going to get a great deal on these items.
In the rare case that a returned item is truly defective, the retailer would need to take this issue up with their supplier. In most cases, non-working electronics won’t be on a pallet of returned electronics. If you’re concerned about this issue, consider messaging the seller with this question.
You can also check the listing’s description to see if they specify anything about non-working returns. Most of the time, sellers will mention whether or not a pallet of electronics is working in the title or listing description.
Advantages of Reselling Returned Electronics
Returned electronics are also popular among resellers for several reasons. The first advantage of most returned products is that they're in good condition. In some cases, returned items are opened and used once (if that many times). It's understandable to think that returned items are always heavily used. Fortunately, that's not usually the case.
Another advantage of returned items involves selection. There's almost no limit to what types of electronics get returned. It doesn't matter whether it's an Apple iPhone or a low-quality knock-off, items from small and large companies are regularly returned by customers.
Closeout Electronics
The third kind of electronics we wanted to mention is the closeout product. It's easy to get closeout electronics confused with returned or overstocked items. However, there is a major difference between them that's worth mentioning.
Closeout electronics have less to do with how popular items are and more with the lack of popularity a business is dealing with. In most cases, closeout electronics become available when a company is going out of business.
Sometimes, unfortunately, the companies that go out of business are ones that buy and sell electronics. If you know or can learn when these types of sales become available, they're usually beneficial to at least have a look at.
The Pros of Closeout Electronics
As with many of the previously mentioned types of electronics, the main advantage of closeout electronics is price. Closeout electronics are available because, in most cases, companies are going under. Since they usually need to raise capital quickly, many types of closeout goods (including electronics) will be on sale.
Another benefit of buying closeout electronics is enjoying a potentially massive selection of items. It all depends on the size of the business that's closing. It's imperative to remember that timing is essential when it comes to finding closeout electronics. Unless you get in relatively early, it's possible for closeout electronics sales to not yield much in the way of valuable electronics.
Where Should I Buy Electronics Online?
At this point, you should have a good understanding of overstocked, returned, and liquidated electronics. Now, you need to know how you can start buying these types of electronics online. If you're looking for these websites and services, you're in luck! When it's time to start looking for closeout, returned, and liquidated electronics, check out these places below.
Trade-In Tech
If you're looking for closeout, returned, and overstocked electronics, make sure to check out Trade-In Tech. This wholesale electronics platform started in 2012. Since this business began, we've welcomed tens of thousands of members from across the world.
There are a ton of reasons why so many people love being members of Trade-In Tech. Because of this, we thought it would be helpful to break down the many reasons why joining Trade-In Tech can help your business grow.
A Massive Network of Members
Trade-In Tech's many members work in all aspects of the electronics industry. You'll find wholesalers, distributors, retailers, refurbishers, and much more on our platform.
With such a large network of people, many of our members have access to closeout, returned, and liquidated electronics from companies around the world. When you become a member of Trade-In Tech, you can start connecting with these members right away!
Some of the best closeout electronics (and almost all of our liquidation sales) are found through our members. Not only can you purchase these items at a fraction of the cost, but you'll have a wide range of items to choose from. If you want access to some of the biggest closeout electronics available online, you definitely want to be on Trade-In Tech.
No having to comb through endless websites looking for quality electronics. No having to waste your time looking for contact information on outdated websites. By joining Trade-In Tech, you can instantly start connecting with active members who are ready to work with you!
Popular Electronics from the Top Name-Brands
Trade-In Tech understands that you don't want to waste time on a platform that has nothing but low-quality electronics. You won't be dealing with this problem on Trade-In Tech. That's because our marketplace is full of electronics from the most popular brands, including:
Apple
Samsung
Sony
HP
Google
Lenovo
and many others!
You won't find many of our electronics on other platforms. This is because we're constantly adding new items to the platform. Many of our members are working with us exclusively, too. They know they can rely on their sales being processed efficiently through Trade-In Tech.
Our inventory isn't limited to popular consumer electronics, either! You'll find an enormous selection of computer hardware, IT tech, and networking equipment. Whichever type of closeout electronics you're looking to buy, Trade-In Tech is the place for you!
No Transaction Fees for Buyers or Sellers
It's often difficult for people to find things they agree on. With that said, we can almost guarantee that nobody likes paying fees. These annoying costs get added on to purchases with almost anything that you buy. This isn't the case on Trade-In Tech.
Since nobody likes paying fees, that's why we have a No Transaction Fees policy. When you buy closeout electronics from our wholesale marketplace, you won't have to worry about being charged extra costs!
You read that correctly - you won't pay fees on Trade-In Tech whether you're a buyer or seller. It also doesn't matter if you're buying a single electronic device or an entire pallet of electronics, there won't be any fees.
Exclusive Content Aimed to Help Your Business Grow
No one wants to sit around and wait months or years for their companies to start seriously growing. With that in mind, one of the things we most often hear from our members is how much trouble they had in the early stages of their companies.
We aim to solve this problem by offering exclusive content that can help your company to start growing right away. You'll find a variety of articles on our website, as well as videos and webinars created just for Trade-In Tech's members.
The goal is simple: We want you to have access to the tools and resources you need.
Best of all, this content comes from Trade-In Tech's CEO, Hayden Howard, someone with a TON of experience making money in the electronics industry. He knows a thing or two about what it takes to build a company, and we're more than happy to share his knowledge with our members.
Extremely Competitive Prices
As you likely know, it’s not easy to find low prices or massive sales when you’re trying to buy electronics from a retail store. Sure, these are sometimes sales that allow you to save a few bucks. However, it’s going to be nearly impossible to buy electronics from retail stores and have enough room to sell them back to a customer for a profit.
Fortunately, you won’t pay retail prices for electronics on Trade-In Tech. Instead of seeing expensive retail prices, our members set the prices for what they want to sell. Considering that many of our members have extensive experience in the electronics industry, you can rest assured that their prices are always competitive.
eBay
Another potential place worth checking out for returned, closeout, and overstock electronics is eBay. eBay is known as one of the world's largest auction websites. If you know what to look for, it can also be a decent place to find cheap electronics.
But keep in mind that you're going to have to do a lot of work here. eBay doesn't sell returned electronics directly, so you'll need to buy them through other people who are selling their used goods.
So, how do you do it? The first tip we recommend using is to include words like overstock, closeout, and return into your eBay searches. Some sellers know that these words are popular among resellers, so they'll sometimes place these keywords into their listings.
You can also find out more information about where electronics came from and why they're on sale by looking at a listing's description. On eBay, you can find listing descriptions by scrolling down a little past the main listing. This type of information won't always be available in a product's description, but it's a good idea to check.
While eBay can be a good way to find electronics, this platform does have a few imperfections. One of the biggest problems with eBay is how many scammers target customers with counterfeit or knock-off goods. Being that eBay is such a huge platform, it's almost impossible for this company's team members to spot every knock-off.
As long as you know what you're buying and aren't afraid of doing a little research, you should be able to avoid counterfeit electronics.
Facebook Marketplace
You might also think about using social media to find great electronics. If you want to do this, it's worth starting your search for electronics on Facebook Marketplace. People and companies throughout the country use Facebook Marketplace to buy and sell items.
Chances are, you have a Facebook account. If you do, then Marketplace is only two clicks away. Even if you don't, the vast majority of people do have an account on this popular social media platform. This is good news if you're looking for closeout, returned, or otherwise liquidated electronics.
All of this means that your chances of finding used electronics are pretty good on one of the world's most popular social media platforms. But just like with eBay, there are a few problems with Facebook Marketplace. The biggest issue here is the sheer volume of scammers and counterfeit sellers.
There are people looking to rip you off on Facebook Marketplace just as there are those trying to rip you off on eBay. If you want to avoid this, be sure that you know the difference between a legitimate seller and a scammer.
The key to success with Facebook Marketplace depends on a factor that's out of your control, and that's where you're located. If you live in the middle of a busy and populated city, you might see a lot of listings for inexpensive electronics. However, this isn't always the case for people who live in small and remote cities.
Another factor to think about is how comfortable you are with meeting strangers in public. Some people don't mind doing this. Others would prefer to buy and sell electronics online. If you're more the latter than the former, it's probably going to be best to use the other platforms mentioned in this list.
Craigslist
If you want another way to find electronics for sale, it's also worth checking out Craigslist. Craigslist operates in a similar manner to Facebook. You might not know that Craigslist actually became popular long before Facebook Marketplace did.
Considering that, companies or people who might not know all of the best places to reach people sometimes only use Craigslist. As it is with Facebook Marketplace, success depends on what's around you. People who live in big cities are more likely to find electronics listed for sale on Craigslist.
Craigslist can be completely free to use, which means that you don't have to worry about paying any fees when trying to sell your products there. This also makes it easier for buyers because they won't have to pay extra money when buying products from sellers.
Everything on Craigslist is organized by city. Meaning if you lived in San Francisco, the version of Craigslist you visit would only feature content from people who lived in and around this city.
Craigslist s another social media platform that's plagued by counterfeit sellers and scammers. With Craigslist, you're going to have to be more careful with the goods you buy than you might on a platform like Trade-In Tech.
Another potential drawback of Craigslist is that this website doesn't handle online transactions, meaning you'll have to meet people in-person to pay them and get what you paid for.
Where Can I Sell My Overstock, Returned, and Closeout Electronics?
Now, you should know where to find returned, closeout, and overstocked electronics. But what do you do after you buy these electronic devices? You're going to need a place to sell them. We've got you covered! Use these avenues to get your returned, overstocked, and closeout electronics sold ASAP.
Online Electronics Platforms
When you want to sell electronics online, you can speed up this process by finding a great electronics platform to join. Trade-In Tech is this platform. Not only is Trade-In Tech a great place to buy electronics, but it's also the perfect platform to sell them on.
When you're ready to sell electronics on our platform, we make it incredibly easy. All you have to do is create a listing with what you have for sale on the Trade-In Tech marketplace. You can get the most amount of eyes on your listings by creating catchy titles.
It's also important to make sure you include high-quality photos of what you're selling. Lastly, fill out your listing's description with more details about your electronics.
After the previously mentioned steps are complete, your listing goes out to our massive network of members. You can also keep other members informed about what you're offering by posting updates on your member's page.
Your Own Website
These days, it seems like everyone has their own website! If you need a way to make some sales, it's in your best interest to make a website for your business. Unlike in the past, it doesn't take a lot of technical knowledge to get your website off the ground.
After spending a few bucks to register and host your website, you can begin creating content for it. If you feel that your time is better spent finding and buying electronics, you can always outsource content creation to someone else.
If you're serious about making website sales, it's also worth investing in some search engine optimization (SEO). This is the process of optimizing website content to help ensure these websites achieve high rankings in search engines like Google.
Search engine optimization requires a lot of research and trial-and-error to get right, so you might want to consider outsourcing this as well. It's up to you whether you prefer to partner with a company that offers SEO services or hire your own in-house SEO specialist.
Whether you plan on hiring an SEO company or a full-time employee, make sure you do lots of research. Hiring new business help is a major decision. By doing proper research, you can help ensure that you're not getting SEO services from someone who's inexperienced.
Social Media
Some of the world's most popular websites are social media platforms. Websites like Facebook, Instagram, Twitter, and others get millions of visitors each month. If you're using social media to find electronics to buy, it also makes sense to use these same platforms for selling purposes.
Websites like Facebook, Instagram, and Pinterest are all great places to let other people and companies know about what you're selling. While each of these platforms differs in its own unique ways, it's helpful to learn some social media marketing tips to help ramp up your sales right away.
Make your messaging fun
As you likely know, you won't be the only company creating content about electronics. You might not even be the only electronics business that's actively interacting with certain customers. With that in mind, it's important to make sure that your messaging is engaging and fun.
The best way to do this is to include images, videos, GIFs, and anything else that makes your content fun! Also, try to leave out anything that might sound too complex or technical. Write content as if you're speaking to a friend about your company.
Use lots of relevant hashtags
Another thing to keep in mind when you're posting things on social media is to use lots of relevant hashtags. Almost every social media platform uses hashtags to organize content.
Let's say that you had 10 iPhones for sale and wanted people on Facebook to know about these smartphones. To make sure that people see your post, you would use relevant hashtags like
#electronics,
#smartphones,
#iPhones, and other relevant words.
If you include these hashtags in your posts, expect them to receive more traffic than normal. Who knows? One of your posts might even end up going viral!
Follow, like, and comment on other accounts
You've likely heard that you sometimes need to give something to get something in return. This same rule can also apply when it comes to making more sales on social media. As you start engaging with other accounts on social media, it increases the likelihood of them liking and commenting on your posts.
If you're after more business, then post content that might be relevant to these other pages and accounts. If you want to help build relationships with other companies, try following and liking their social media pages and content as well (and don't forget about those hashtags)!
Engage with your followers
Whatever you do, don't ignore your fans! If you see that people are asking questions about your products or services on Facebook, be sure to get back to them. Even if you can't answer right away, let your followers know when they can expect a response. Alternatively, if someone asks for help with your products, be sure to offer it!
As you continue running your social media pages, you might encounter that one type of person that every company dreads: the angry customer. Some companies might ignore this customer or, even worse, respond with anger!
Look, we understand that no one wants an unhappy customer. However, you should always ignore your instincts to give this person a verbal assault (even if your business is in the right).
What you have to remember is that you and the angry customer won't likely be the only people seeing this exchange. If potential customers visit your website or another location where they can see reviews about your business, and you're arguing with everyone, it's not going to be a good look for your company.
Paid Advertising
If you have some room in your budget after buying electronics and want to market your company, it could be a wise move to spend money on paid advertising. While this term might be new to you, it's really not that much different from a business paying for airtime on a radio or television station.
However, this type of paid advertising will focus exclusively on web-based ads. We're talking about placing paid advertisements on social media websites, search engines, and display networks.
The easiest way to get started with paid advertisements is to start displaying ads on social media or in search engine results. Unfortunately, setting up ads isn’t quite as easy as only deciding on a platform. You’ll also need an audience to target.
Fortunately, you won’t have to come up with an audience from scratch. Many social media platforms and search engines have everything you need to start forming your ideal audience. Essentially, your audience groups will be people interested in electronics in one way or another.
Local Partnerships
If you're not having much luck making sales online, you might decide that it's time to hit the streets! So, you have the electronics in your car. Now, where do you go? One of the first types of businesses we recommend looking for is a resale store or a pawn shop.
Like you, resellers need merchandise in order to make sales. If you have quality electronics and can find a company in need of them, your business could get off the ground rather quickly. Plus, these partnerships could also be valuable connections to have in the future.
In conclusion, it's often beneficial to look for closeout, returned, and overstocked electronics. While these kinds of electronics take some time and energy to track down, they can bring a lot of revenue into your company. If you're ready to continue learning about making money reselling electronics, make sure to visit Trade-In Tech's blog.
Like- March 7, 2022