How to Profit in the Closeouts Market

Today’s consumers want the biggest bang for their buck, making the retail sales environment more competitive than ever. Closeout merchandise can offer merchants an opportunity to sell goods at low prices, as well as make large profits, if they know where to look and how to buy, says Howard Grodnick, president of Jacobs Trading Company (JTC). JTC sells returned and excess merchandise in every category by the truckload. JTC’s parent company, Liquidity Services (LSI), operates, an online marketplace where buyers can source surplus inventory by the truckload, pallet or small lot. “We refer customers who aren’t ready to buy a load to LSI, and they can get started on a smaller scale,” Grodnick adds.

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