2020 was a whirlwind of emotions that did not go as anyone planned. With the year coming to an end and a new year starting, we are all quickly beginning to realize that though our calendars have turned over a new leaf, we’re still paying the consequences of the previous year.
The pandemic is still a thing, causing lockdowns. There are breakdowns in supply chains, paychecks, and the market as a whole. For most of us, we know it’s something we have to think about so we can prepare for our uncertain future, but we also don’t want to. The ideas that surround the “what-ifs” and the “maybes” are enough to make anyone’s head spin.
I’ve received many emails the past couple of months from our community, seriously considering using liquidation reselling as a complement to their full time jobs. The truth is many of us really don’t know what’s coming or if their previously stable job is as stable now as it was a couple of years ago.
But if you haven't already, consider reselling liquidation as a way to supplement your income. Here's why:
How Liquidation Reselling Can Benefit You in 2021
1. There’s Room for You
When Extreme Unboxing came out on A&E this past year, people were understandably concerned that the market would change. Those who had been reselling in the past were not going to be able to get the product that they were used to getting for the prices they were used to having. But, as I had stated when it happened, the idea of that was simply untrue, at least in the long run. Complainers compared the situation to Storage Wars, where the prices of storage units went up due to the demand and excitement of them. But they failed to realize the differences that between pallets and storage units. The prices did not change. If it wasn't Extreme Unboxing that changed the market, it would be something else. The something else ended up being a worldwide pandemic.
But the absolute truth is, there is room for you in the liquidation world. As long
as we all do the work of finding the products that sell best in our areas and on our platforms, there is plenty to go around. In 2019, environmental journalist Adria Vasil talks about the millions of pounds of returned items that are not resold, but are instead dumped in landfills. We aren’t just talking about damaged items that can’t be reused, but items that have simply lost their “new” integrity and big box stores do not have a way to resell them. And these numbers are steadily rising because of our consumerist culture, regardless of the economic climate.
People are returning items significantly more than they were 6-7 years ago. This means that retailers are having to get creative on how to move these products. It costs money to keep them and it costs money to destroy them. Selling them to liquidators to reduce their losses seems like a win-win.
With over a 3.5 billion returned products in the United States alone finding themselves in landfills, there is plenty of room for everyone to eat. It might require some adjustment and some creative problem solving on all of our parts, but reselling belongs to no one, and can belong to anyone.
2. You Work For Yourself
Reselling is a job that is completely and totally dependent upon you. There are a few biggest time-sensitive responsibilities, but your hours are truly up to you. How many items you list, how often you list, and how you obtain inventory is completely up to you.
The more work you put in, the more sales you get. The more consistent you are, the more consistent the sales. But if you’re just supplementing your income you could get away with a few hours per week, whatever you can realistically spare.
Discipline is required, but you can work as little or as much as you want. The amount of profit you make is directly correlated.
3. You Can Stop At Any Time
For those of you who are looking for a temporary solution while the economy is so up in the air right now, this is a good option for you. Simply get started and go at your own pace. You can take it slow and learn a little at a time. Who knows? Maybe you’ll absolutely love it, and you’ll want to make it a permanent side gig.
But, if not, if you want to stop, you can stop without serious implication. You can ship what sold, end your online listings, and liquidate or donate the rest of your items and be done with it!
2020 was full of uncertainty, 2021 has begun that way. Who knows what the rest of the year will bring?
But reselling can be a viable option to help you move through that uncertainty and give you yet another safety net that helps you and your family feel more secure.
Best of luck to you!