Overstock Key Terms

Get to know the overstock key terms

Purchasing other company's overstock in order to stock your store can be a profitable move. However, there is a lot to learn if you want to get started. One of the most important aspects of any new venture is to first learn the terminology that is associated with the field. This is true of overstock as well. When you purchase a pallet, for example, you want to know what to expect and make sure that you have enough space for it. If not, consider drop shipping. Get started with these words.

 

Pallet

A pallet is a square or rectangular wooden base that companies can stack several boxes on top of. The boxes are then shrink-wrapped for shipping. Those interested in purchasing overstock will come across this term often, as you are usually purchasing a pallet of a particular type of goods.
Try: Learn more about pallets, along with a picture, from RoadTransport.com.

Drop shipping

In drop shipping, goods remain at the warehouse. When you sell an item, the drop shipping company will ship it directly to your customer. This is a smart choice for business owners that don't have much space for product storage. Some companies specialize in drop shipping overstock items.
Try: Look to wiseGEEK to learn more about drop shipping.

Liquidation

Some companies that specialize in overstock also have liquidation products. These are products that a store wants to get rid of because it is not cost-effective for them to sell.
Try: Learn about the difference between liquidation and overstock from Worldwide Brands.

Closeouts

Closeouts are typically goods that a store wants to sell because they are not in season or it's a style that has been discontinued. You can purchase these items at a reduced price to sell in your store.
Try: Event Sales discusses closeout products.

Internet Marketing Association of Surplus, Wholesale and Closeout Dealers (IMASD)

The Internet Marketing Association of Surplus, Wholesale and Closeout Dealers, or IMASD, is a group of professionals that deal in the overstock business. Unfortunately, there are many scams within the industry and membership to the IMASD can help you to determine which sites are legitimate and which are not. Members also receive buying leads and advertising opportunities.
Try: Learn more about the IMASD from Surplus.net.

Customer return products

Customer return products, or department store returns, are items that a customer has returned to the store. In some cases, the store cannot put the item back on the shelf and sell it for full price, so they sell it to overstock buyers.
Try: Learn about customer return products from Via Trading.

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