Earning the position of North America’s second largest third-party logistics provider after 111 years of business, GENCO ATC is a company customers can put their money on. “Vendors and resellers looking to make a profit from store returns and liquidated items can do so with little risk,” explains Tom McElroy, “because working with GENCO, a company that stands behind its products, provides buyer confidence in what is generally a fragmented market.” While the consistency of liquidated inventory is typically driven by the national economy, subject to buyer’s remorse, bankruptcies and more, GENCO Marketplace, a subsidiary of GENCO ATC, is never lacking in merchandise, and creates stability for vendors and resellers trying to turn a profit. “We carry the largest selection of wholesale liquidations,” says McElroy. “Each business day we liquidate over $5,000,000 of merchandise.”
Liquidation Surplus for any Type of Seller
Carrying liquidations from six of the top 10 national retailers and two of the top three dotcom retailers gives GENCO the ability to provide a selection of merchandise that is incredibly diverse, from lawn mowers to baby products, electronics and home improvement products. From there resellers have three options in order to turn a profit. “First off, they can purchase the traditional retail store returns, going for five percent the original wholesale price,” explains McElroy. “These will include a mix of brand new items and others that might need a little rework or repair.” The dotcom returns also offer a great deal, as many of the items are like new, only returned because of buyer’s remorse, such as wrong fit or wrong color.
Last but not least, is GENCO Marketplace’s unique Consumer Premium offer. “We started this program about two months ago. We pull together inventory from GENCO’s retail site, www.nobetterdeal.com, which has either been selling slow or there is too much volume,” says McElroy. “Then, we create an assorted merchandise category pallet of what we call consumer ready merchandise. It is merchandise that doesn’t have to be cleaned or repaired and many times comes in a box.” While many of GENCO Marketplace’s merchandise comes with fixed prices, the Consumer Premium pallets are only available by auction.
Buyers need to register at the Marketplace website. They will then have access to complete manifests, reseller agreements, product source information, as well as fixed pricing and auction bidding. Traditionally selling by the pallet, lot and truckload, GENCO Marketplace now offers cartons (a fourth of a pallet) for resellers looking to carry a small amount of inventory. “Electronics sales are strong, as are home goods, but all of our merchandise turns over quickly and offers great selection within each product category,” notes McElroy.