A Better Future for Surplus

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News & Expert Commentary on Surplus Management

Refurbished Products Offer Performance, Sustainability, and Affordability

Jim Rallo- October 26, 2014

Green living and sustainability have been hot topics in recent years. By focusing on ways both business and society can help decrease waste and lessen environmental impact, we can all play a role in sustainability. One of the ways we accomplish this as a company is by taking returned and overstock products that might otherwise end up in landfills. We refurbish them to new condition and resell them, thus returning value to our buyers and sellers. By purchasing refurbished products, consumers also actively help support sustainability.

At Liquidity Services, our core business is the secondary market. Unfortunately, a number of myths exist about refurbished products and the secondary market. For instance, a common myth of refurbished products is that they are not regularly purchased because they are simply defective product. However, 94% of consumers we surveyed have purchased a refurbished product in the past 3 years and state that refurbished products work as well as brand new products.

Out of the same group, 41% of consumers surveyed stated they purchase refurbished products because they consider themselves environmentally-friendly and want to avoid electronics ending up in landfills. We know that refurbished products can come from a variety of sources, such as retail demos or overstock. In other cases; they may also be new items that customers return due to buyer’s remorse or difficulty with learning product functionality. Something as simple as damage to the packaging may also deem a product as refurbished, simply because it may not be sold as “new” any longer. In any of these cases, we can view and repurpose the product and sell it through our online marketplaces, Liquidation.com and Secondipity.com. Refurbished products provide consumers who would not have had the ability to purchase the product new with the opportunity to obtain the electronics, such as tablets and laptops, without paying the full price. This benefits retailers and product manufacturers by allowing them to recover more value from the surplus products while protecting and growing their brand and supporting their sustainability mission.

Liquidity Services takes pride in delivering products that offer optimum performance, sustainability, and affordability. Our refurbished electronics are fully tested, graded, and restored to like-new condition before they are resold on any of our marketplaces, meeting buyer demands in an ever-changing buyer’s market. Through trusted, online marketplaces, such as Liquidation.com and Secondipity.com, we are creating more sustainability for our planet by providing better products at competitive prices.

Jim Rallo, President, Retail Supply Chain Group

Jim Rallo leads Liquidity Services' Retail Supply Chain Group which helps hundreds of the world's top retailers and consumer OEMs unlock strategic value in their reverse supply chain. Jim brings more than nine years of experience at Liquidity Services and over 25 years of professional experience in operations and finance. Mr. Rallo holds an M.B.A. from the Smith School of Business at the University of Maryland and a B.S. from Washington and Lee University.