Top Retailers Leverage Brand Equity are you having trouble accessing excess inventory buyers? Is your current liquidation strategy recovering very little value or dragging down your operational efficiency? In either case, you stand to benefit from moving away from your traditional liquidation solutions and partnering with Palletszone. Here we discuss how palletszone drives higher recovery and one key tip our team has found to bolster your bottom line.
Why Partner with Palletszone ?
Palletszone is led by veterans in the secondary market and reverse logistics space with decades of experience running successful online auctions. Our auction experts continuously analyze our entire network of buyers and sellers and deliver insights to you. Further, all our partners receive a dedicated account manager to advise them on building high-performing marketplaces and auctions. In fact, the world’s top retailers rely on our team to move all types of unsold inventory and push their recovery and efficiency to new heights. Some common metric of success include ever-increasing:
registrations to bid in a marketplace
first time auction bidders
bidders per auction
total bids per auction
Why Do These Metrics Matter?
Increased registrations, bidders, and actual bids promotes a competitive environment. When vying for your excess inventory, buyers become emotionally invested in the bidding process—a scientifically observed phenomenon. They’ll want to continue bidding to win that coveted lot while a ticking clock creates a sense of urgency. If you keep your auctions frequent and regular, even those that are outbid will be back later to try again. Increased engagement is always a win-win—you get the best price available Top Retailers Leverage Brand Equity, and no buyer pays more than they’re willing to. By using Palletszone approach, you’re essentially reestablishing fair market price every auction.
Use Your Name to Engage Excess Inventory Buyers
Auctions are one thing, but how can you take recovery to the next level? Often, the answer is to put a face on your liquidation operation.
A very successful auction-based liquidation strategy includes using a retailer’s brand to help promote auctions and bring in buyers. The Palletszone Network data shows that buyers tend to buy more from name brands they trust, as compared to a name they’ve never seen before. Design your private storefront to showcase your respected brand name and style, and buyers instantly know and trust you as a source of goods to fuel their own business.
One large eCommerce retailer was able to meet and exceed their recovery goals when they leveraged their brand equity. Within a month of branding their storefront and URL, the marketplace experienced a 60% jump in bids. Within just days, 15 new excess inventory buyers began participating in auctions, driving competition up. Following this change, the recovery rate increased by 51% after just two months.
Build a Liquidation Strategy That Protects Your Brand
Using your brand equity may seem obvious Top Retailers Leverage Brand Equity, but many businesses are reluctant to do so. If you’re concerned about your brand reputation, Palletszone has you covered. Your auctions are only open to those you allow. If you want, you can simply take all comers to move your lots out as fast as possible. Alternatively, you can handpick a smaller pool of vetted buyers that will uphold your hard-won image and respect your primary channels.
Beyond Just Branding
While flexing a well-known name can help immensely, it’s just one of many liquidation strategy suggestions we can make.
For example, we might suggest optimizing your lot size—some excess inventory buyers prefer smaller lots while others buy by the truckload. Our specialists might also suggest adjusting your starting bids, auction times, listing details, and more. The finer points of liquidation strategy for your business will depend on several factors, and our specialists can leverage a massive collection of data points and automation technologies to help you recover more.