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The Role of Closeout Inventory Buyers

Closeout Inventory Buyers

As closeout inventory buyers, we help retailers offload unsold products and “closeout” their inventories at maximum profit. These types of services are available in all retail industries, from clothes and beauty products to toys and home décor. At Marvell Foods, we primarily work with food retailers, helping grocery stores, food manufacturers, and others in the industry find new buyers for existing”close-out” goods.

To best understand how closeout liquidation companies work, it helps to understand what a closeout actually is. In this article, we’ll go over the basics of closeouts and why inventory liquidation buyers play such a key role.

What is a Closeout?

A closeout is a type of action used in retail to reduce the amount of inventory, typically bringing it down to zero. This generally happens in two ways. 

Salvages. A salvage closeout refers to the sale of items that are damaged, outdated, or otherwise extremely limited in their purchase potential. Sometimes this happens because of incidences like floods or other extreme conditions where product(s) might be damaged, or tarnished in some way, but less than perfect, rendering them less valuable than in pristine condition. Other times salvages are simply used as a sales and accounting technique to zero out the inventory of seasonal products. Either way, excess inventory buyers are key here, since salvage items cannot be put on the floor and sold to everyday consumers. Enter Marvell Foods. We buy these products and place them with any number of national outlets, end users – in the food industry. In the case of Health and Beauty Aids, discount stores, independents, and a host of other end-user/buyers are part of our three-decades-old Rolodex of contacts. 

Unsold excess. Items don’t have to be damaged to benefit from the assistance of a closeout inventory buyer. For example, many businesses choose to work with companies like Marvell Foods to offload items that simply didn’t sell well. This may result in overstocked inventory in which case, Marvell Foods, as an excess inventory buyer enters the picture. Depending upon what it is, Marvell Foods can potentially purchase the product/goods. In the instance described, most of the time, these items are in perfectly good condition but in need of access to a new pool of buyers. Marvell Foods national network of buyers in a wide range of categories can, or will, buy it directly or find a buyer for the product(s)/goods.

Here’s Where We Come In

Retailers focus their efforts on specific types of buyers. When items no longer fit the wants or needs of those buyers, they turn to closeout liquidators like Marvell Foods to find buyers, outlets, distributors, wholesalers, retailers, among others, who are prospects to purchase these goods/products.

Key to making all of the above happen is our global network of purchasers. By giving businesses an opportunity to tap into this network, we offer significantly more ways to reduce loss and preserve profit potential on otherwise unsellable items. So instead of holding on to damaged, excess, or otherwise unprofitable products (an effort that costs a lot, both in terms of profit loss and storage costs), organizations can rely on us to broker and manage an inventory sale to another entity. Marvell Foods’ involvement can help your company make the most of what might seem to be a bad or even helpless situation. Call us today to explore how we can be of service.

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