According to a survey from TechSee reported by Chain Store Age, 41 percent of buyers returned a non-defective consumer electronics item in the last 12 months, citing reasons like frustration with packaging and confusion during unboxing or initial use. Consumer electronics are one of the most-often returned products, which creates expensive pain points but also opportunity for retailers to unload returned or excess inventory via a competitive secondary market.
Let’s take a look at consumer electronics return rates and how the products fare on the secondary market:
- Consumer electronics boast a 20 percent return rate, with accessories, like earbuds, cases and batteries, boasting some of the highest return rates.
- Video games, gaming consoles and Apple products are in big demand and generate high pricing, even on the secondary consumer electronics market.
- Resale buyers are looking for large quantities of inventory that’s sorted by condition.
Returns are expensive for retailers—not just because a product loses value the longer it sits on a shelf, but also because of the return process itself. Shipping and handling carries a cost, and so does the actual manpower required to reverse the sale and move an item back into inventory. Taking all of this into account, it’s easy to see how returns can quickly chip away at a consumer electronics company’s profit margins.
How Can I Decrease The Financial Burden Of Electronics Returns?
Rather than accept the sizeable loss, consumer electronics retailers can choose to sell their returned and excess inventory via B Stock. Used by 5 of the top 10 electronics retailers, B Stock sells millions of CE products each year to vetted secondary market buyers around the globe. Our B2B online marketplace is flexible and scalable, allowing retailers to sell across all categories, conditions and quantities. We leverage an online auction dynamic in order to create competition and push prices up, and also offer users complete control over who has access to their inventory.
Not to mention, our account management team—made up of consumer electronics and auction industry experts—provide daily support and guidance on sales strategy, ensuring a faster sales cycle that moves your inventory quickly and without sacrificing recovery.
Who Makes Up The B Stock Buyer Network?
Our secondary market consumer electronics buyer base has been built up over several years and consists of large volume buyers, business to consumer resellers, exporters, and brick and mortar store owners in 100+ countries. This cohort of primed buyers is looking for inventory year-round, regardless of season, and is ready to buy products in a variety of conditions or quantities—from boxes to pallets and even truckloads of excess or returned consumer electronics.
Who Can Use The B Stock B2B Online Marketplace?
Our marketplace platform is available to both enterprise and small businesses. Our Private Marketplace Solution is best for Fortune 1000 retailers, manufacturers and distributors with $2 million+ in excess or returned inventory each year. It’s an ideal solution for large organizations that are looking to improve recovery and operational efficiency. Meanwhile, our SMB marketplace, B-Stock Supply is optimized for both small- and medium-sizes companies with ongoing, but not massive, inventory volumes. If you’re an independent consumer electronics retailer looking for a quick and easy way to turn excess inventory into cash, this is the best option for you.
How Can I Learn More?