Find Great Inventory on Amazon Liquidation Auctions Europe
Amazon customer returns are a hot commodity both in the UK and US. Did you know that returns make for great inventory to resell? This has to do with the nature of e-Commerce returns, which we talk more about later. Retailers, like Amazon, are looking to clear out the inventory that gets returned to them in order to recoup losses. Customer-returned inventory then gets introduced into the secondary market by buyers like you! So whether you choose to sell online or in-stores, give Amazon customer returns a chance when sourcing and you may be surprised at how quickly they go!
In this blog, we will cover:
- Amazon’s return policy
- What clearance stock is
- How to buy Amazon customer return pallets
- Marketplace overview of Amazon Liquidation Auctions Europe
A look at the Amazon return policy
When you take a look at the Amazon return policy, it’s no wonder so many customers trust their site with millions of purchases a year. Returning items to Amazon UK is even easier than you might have imagined. Amazon says, “Amazon.co.uk, and many Sellers on Amazon.co.uk, offer returns for most items within 30 days of receipt of delivery.” Regardless of if you opened an item or not, Amazon will almost certainly accept your return. This means their returns can be in extremely good condition when you consider how often one orders items just to try on different colours and sizes and return the rest.
So where do those returns go? Well, that’s where clearance stock auctions come in.
What is clearance stock?
Clearance stock auctions are extremely common. They are essentially a way for retailers to clear out ex-catalogue inventory in order to make way for new inventory. That could either be due to merchandise not selling in stores, over purchasing, or seasonality. This is essentially money left on the table for retailers! Merchandise can be sold off to independent traders like you at a fraction of the cost.
Amazon, the biggest retailer in the world, has merchandise available for interested UK buyers. They, too, deal with clearance stock (also known as overstock) and need a way to offload that inventory, along with customer returns, to clear space in their warehouses and distribution centres. Introducing: online clearance stock auctions. Online auctions are a way for merchandise to go to the highest bidder and for retailers to get back some space.
What makes Amazon customer returns so valuable?
According to Mintel, nine in ten (86%) Brits are Amazon users/shoppers. In addition to that, 70% of Amazon shoppers say it’s the first site they check when purchasing online. That leaves a lot of room for returns to be made considering the popularity of Amazon products in the UK. Resellers, sole traders, and aspiring entrepreneurs can tap into that by purchasing Amazon pallets of customer returns and clearance stock. You can consider these a good source of inventory to help start your business.
Amazon in particular offers a steady supply of customer returns ranging from every category you could think of, but they also come in different lot sizes and you only pay what you want at auction. You can acquire this inventory, and then resell it closer to MSRP— which is how UK resellers make money!
Did you know that on eBay, a cosmetic item is purchased every 3 seconds in the UK? And if electronics and entertainment are more your bread and butter, you’ll be happy to hear that a video game is purchased every 4 seconds. Once you start sourcing customer returns at a discount, those profit margins are yours to capture when you resell on popular marketplace sites like eBay.
How To Buy Amazon Customer Return Pallets UK
Sole traders, or individuals who are self-employed, are legal entities in their own right. Being responsible for accounting, accurate bookkeeping, and taxes and self-assessment, are all your responsibility. If you want to buy Amazon customer return pallets in the UK, there are going to be a few steps to follow.
Get your financials and paperwork in order:
- Paperwork – This means registering your reselling business. Specifically, if you make more than £1,000 from self-employment, you must tell the appropriate government agency that you are sending a self-assessment tax return. Go through HM Revenue and Customs, or visit www.gov.uk/set-up-sole-trader, to complete all the paperwork for your business. This documentation will be necessary for the following steps.
- VAT identification number – You must register for a VAT number in order to save yourself paying tax on inventory you plan to resell. It is then your responsibility to charge your customers VAT. According to www.gov.uk, “You must register your business for VAT with HM Revenue and Customs (HMRC) if its VAT taxable turnover is more than £85,000.”
- Submit a valid VAT ID to B-Stock – In order to purchase Amazon customer returns from B-Stock, a leading site in liquidation and clearance stock, you must submit a valid VAT number.
- Decide if you will be selling in-person or online – If you are in the UK and have decided to open a brick-and-mortar location, or perhaps vending in flea markets (or car boot sales), there are a few other considerations to keep in mind. A street trader, for example, also needs to acquire a special licence or permission.
Decide on inventory size, condition, and category
- Start searching for job lots – There are other wholesale, clearance stock, and liquidation sites out there, so do your research and go with whoever has the best reviews. Be sure to check if these sites are buying bulk inventory first themselves and then breaking it down into smaller quantities to sell to you. Oftentimes, there will be a markup for these goods.
- Consider what you can easily resell – Do you have an affinity for clothing and style? Or maybe home goods? You can start looking for clearance stock from retailers like Amazon or Wayfair, respectively! When you know your category well, it makes the listing and selling process that much easier.
- New or used? – You can search strictly overstock – inventory that has not been sold in stores – on sites like Crazy Clearance Auctions, or Amazon customer returns – previously purchased items that are returned to Amazon – on their private marketplace. Both have value, it just depends on what type of inventory you’d like to sell (and have the customers for).
Buy, ship, and sell your inventory
Once you decide on an auction or job lot that works for you, you can place your bid! Here are a few other pointers for buying, shipping, and selling:
- Try small truckloads on Amazon – You can start small with one or two boxes on a site like B-Stock Supply Europe, or you can with a small truckload or FTL from Amazon’s private marketplace.
- Full truckload (FTL) auctions are 23 pallets
- Small truckload (STL) auctions have 12 possible pallet spaces
When you start small, you can sample different sellers and products. This helps ensure you end up purchasing only what you are able to sell. STLs are a great way to get started on the Amazon EU marketplace with smaller options to purchase and cost savings on shipping!
- Receive, organise, and list it (if online) – Always go by the manifest to ensure you have accounted for everything when receiving clearance stock purchased at auction. Organise inventory accordingly, and be sure to keep accurate track of quantities, sizes, etc. Start listing inventory and write informative product descriptions on your chosen reselling platforms. Check out 11 Best Sites to Resell Online (UK) for a full rundown of your options.
- Make your sale! – Offer promotions and email customers when you get new inventory in. If you’re fulfilling orders yourself, always communicate shipping estimates and if there are any issues with orders to ensure a great customer experience! If you want to skip this step, look into Amazon’s fulfilment program.
Now that you understand the process of buying Amazon customer returns better, let’s take a look at the Amazon Liquidation Auctions Europe marketplace!
Amazon Liquidation Auctions Europe: Overview
Shop the best customer returns from the official Amazon liquidation marketplace in the UK. Here, resellers big and small can find the right inventory their business needs.
On Amazon Liquidation Auctions Europe, you can filter auctions by your preferred currency. Whether that is by British pound sterling or euros depending on where you’re located and shopping!
Inventory in every popular category
Mintel says that top categories on Amazon UK include hardcopy media (such as DVDs, video games, and books), electricals, fashion and jewellery, and toys. Returns are just as likely in these popular categories, especially with a return policy like Amazon’s. Shop these categories when browsing clearance stock auctions:
- Home & garden
- Sports & outdoor
- Health & beauty
- Mixed lots
Filter by countries
Since this marketplace covers multiple countries in Europe, you will want to make sure you filter by the right country. Especially important for those international resellers considering exporting and shipping costs. Filters are available for these European countries:
- United Kingdom*
*Please see note on Brexit below.
Size and distance matter, too. The larger the load and distance it has to travel to get to you will increase shipping costs. Be sure to select the shipment size that works best for you. Remember, you need to estimate the right amount of space for the shipment size you choose.
- Full Truckload
- Small Truckload
How does Brexit impact me?
Certain bidding restrictions are in place for UK buyers due to Brexit. Amazon Liquidation Auctions will limit UK auctions to UK registered buyers and non-UK auctions to buyers registered outside of the UK. This applies to both Overstock and Customer Returns auctions. Shipping cost and delivery processes, along with payment method and tax on inventory will not be affected if you are a UK buyer purchasing UK auctions! Check out the Amazon EU FAQs for more information.
Register on Amazon Liquidation Auctions UK
What are you waiting for? Amazon customer returns are yours for the taking! Simply, register on the Amazon Liquidation Auctions Europe marketplace, start browsing auctions, bid, and win.
If you’re looking for even more bankrupt, clearance stock, or liquidation inventory and job lots, be sure to check out B-Stock’s other European marketplaces like B-Stock Supply Europe, Unilever Europe Trade Auctions, and Wayfair EU Liquidation Auctions.
The post Amazon Customer Returns UK: What resellers need to know appeared first on B-Stock Solutions.