Retail sales in the 2012 holiday season hit $579 billion, according to the National Retail Federation. Americans affirmed the three-step tradition. Shop till you drop. Give until it hurts. And return, return, return. Between online and retail purchases, holiday shoppers returned $63 billion in merchandise.¹
Returns to Riches
Did you ever wonder where all of that returned merchandise goes to live after the holidays? The returns from “7 of the top 10 retailers and hundreds of manufacturers”² head to an online bulk auction marketplace called Liquidation.com. Huge warehouses in Las Vegas, NV, Plainfield, IN, Cranbury, NJ, and Garland, TX⁴ divide the bounty.
Workers inspect, test and sanitize items, establish lots, and set pricing discounts up to 40 percent² prior to online auctions. Major categories of merchandise include electronics such as computers, iPads, HDTVs, home appliances, and clothing among others. While 98 percent of buyers purchase bulk lots for resell, secondary site Secondipity.com² caters to individual consumer purchases with up to 80 percent discounts.³ Brands like Prada and Michael Kors are among the bargains.
This is yet another example of how a creative solution such as an online marketplace can provide transparency and national visibility to formerly underground economies, transforming and accelerating an industry segment. BidSelect.com, one of the first online real estate marketplaces to facilitate online offer management, elevated online real estate transactions in much the same way almost 10 years ago.
In 2013 be watchful for opportunities to rethink challenges with an eye toward outside-the-box solutions.
Feel free to share this article with innovators or savvy shoppers who appreciate value.
To conduct property searches in cities throughout the nation visit FirstPrestonHT.com or BidSelect.com
For real estate portfolio management and real estate technology solutions, visit FirstPrestonHT.com.
Sources:
- National Retail Federation. Holiday Retail Sales Up 3.0 Percent to $579.8 Billion.
- ABC Nightline. Many Happy Returns. Jan 13, 2012
- ABC Nightline. Easy Money: Fast Cash from Unwanted Presents—Jan. 8, 2013.
- ABC WFAA. Where Returned Gifts Go to Find a New Home. January 14, 2013
- www.Liquidation.com . About Us
- www.Secondipity.com
- BidSelect.com. Nationwide Online Real Estate Market Place.