NoBetterBlog.comNoBetterDeal.com takes a look at your wallet.

If these people understood how and where we get our product, they probably wouldn’t be so skeptical.  I would like to take a minute to explain the background of NoBetterDeal.com as well as the behind the scenes activity that allows us to deliver a website with some of the best deals around.

NoBetterDeal.com was launched on February 10, 2009 by GENCO Marketplace, a subsidiary of GENCO Supply Chain Solutions, which works with retailers and manufacturers to liquidate their returned and surplus product.  GENCO Marketplace is a Better Business Bureau (BBB) Accredited Business with an A+ rating.  For more details, please click here.  Every day GENCO Marketplace liquidates more than $5 million worth of product, most of which is sold in carton, pallet and truckload quantities.  A select portion of new and like-new product is purchased by GENCO and listed for sale as single units on NoBetterDeal.com.  

According to GENCO Marketplace CEO, Robert R. Auray, Jr., “What makes this web store different is that we source our products from the secondary market.  Each year, billions of dollars worth of surplus inventory and returns are liquidated at a small fraction of their retail value, even though a majority of the goods are high-quality, fully functional items.  Because our products are sourced from quality liquidation stock, NoBetterDeal.com can offer discounts shoppers rarely see, even at the most aggressive clearance sales.”  In most cases, shoppers save up to 60% just by purchasing from NoBetterDeal.com instead of from their local retail store.

I am sure that you all have heard of the secondary market, but just in case some of you are unfamiliar with the term, I want to keep the bases covered.  The secondary market literally refers to a second market for goods, and the types of goods that we are talking about consist of customer returns, shelf pulls, overstock merchandise, discontinued items, out-of-season goods, etc.   These are the products that retailers and manufacturers have on hand that either came back to them or simply didn’t sell.  In order to make room for new product, they need to get rid of this merchandise and they usually want to do so in a hurry since it costs big money to store and handle it.  So more often than not, these items end up being sold to a wholesaler, like GENCO Marketplace, to be resold in the secondary market (or on NoBetterDeal, of course).

NoBetterDeal.com offers a variety of products with the largest presence in the electronics category.  Bargain shoppers can find flat screen HDTVs, laptop and desktop PCs, DVD players, iPods, home theater systems, camcorders, digital cameras and more at unbelievable prices.  Additional sections of the website include Kids & Baby, Sporting Goods, Furniture, House wares, Small Appliances and Health and Beauty, just to name a few.  And with the help of new accounts that GENCO Marketplace has recently brought on board – these product categories are expected to become more plentiful in the near future.    

Plus, with the newly extended 30 Day Money Back Guarantee on all items and a 60 Day Return Policy on Refurbished items – NoBetterDeal.com doesn’t leave much to be doubtful about!

You changed your mind, a piece was missing or it was the wrong size, wrong color or both – these are just a few of the many reasons consumers return items to the store.  You’ve seen those bins behind the counter that, at times, are overflowing with returned items.  In most cases, the retailer cannot put this product back on their shelves, even if nothing is wrong with it.  So where does it go? The secondary market.

Retailers and manufacturers want to get rid of this merchandise fast because it costs them a ton of cash to store and handle it.  Some of the bigger retailers, like Best Buy, have created their own outlet web sites and stores to sell their customer returned, damaged and liquidated products.  This works for them since they have the resources to manage it.  In most cases, however, the retailer will move their returns and surplus inventory to the secondary market, and they often do so for pennies on the dollar.  Then, wholesalers like GENCO Marketplace, buy the inventory and sell it to discount retailers or other small business owners who in turn sell to consumers.

Most recently, however, GENCO Marketplace has come up with an even better solution.  It was thought, “Why can’t the wholesaler offer these products direct to the consumer?”  Instead of having to travel to Big Lots, TJMaxx, Bob’s sidewalk store or the local flea market, GENCO Marketplace created a web store to offer shoppers some of the high quality returns and excess inventory that they liquidate every day and at prices they won’t find anywhere else.  It is fitting that the web site is called NoBetterDeal.com since consumers can instantly save up to 60% of what he or she would pay for the same item at retail price.  And with categories that span electronics, gaming systems, house wares, furniture, tools, kids and baby, sporting goods and more, who wouldn’t want to rack up the savings and shop NoBetterDeal before heading out to the nearest retail store?

Buying good stuff cheap is really the focus of advice offered on this blog.  But here’s a little secret.  Some folks who buy on NoBetterDeal.com resell the goods on eBay for a profit.  (Don’t worry, it’s legal.)  

Take David. He lives in Detroit and has built a growing eBay business, with customers around the country, selling product he buys on NoBetterDeal.com and other sites.  “I’ve been at it for three or four years.  I buy consumer electronics almost exclusively – mainly digital video cameras, but other products, too.  It’s a nice secondary income.”

 This isn’t new.  People have been buying from liquidators and reselling on eBay for years, but only those who could afford to buy in bulk.  In this tough economy, however, we’re seeing more people experimenting with eBay as a way to earn a few bucks.  They’ll buy a few individual items from NoBetterDeal.com and try their hand at reselling.  So NoBetterDeal.com is not only a place to find bargains, it could help you launch your own business!  Who knew? 

Keep checking back for more updates and advice on the secondary market.  After all, I do know a little something about the subject.

-Professor Jim

Success in the secondary market – finding the best possible deals – takes hard work and lots of patience.  Here’s how to work the Web for maximum savings:

• Find sites you like and trust, and visit frequently – at least 2-3 times per week.  Here’s why.  Liquidators carry what becomes available through retailers.  One week, it might be large-screen TVs, the next week laptop computers, and a week later talking teddy bears.  If you’re shopping for a specific item (a boom box, a camera, an entertainment unit), you need to visit frequently and monitor the sites until such an item appears. 
• Do your research.  Check the flyers in your Sunday paper, and be aware of the retail price of the product you’re hoping to find.  That way, you’ll know instantly if a real bargain appears, or if a deal isn’t really a deal.
• Understand who pays for shipping.  Most secondary market sites require the buyers to pay shipping costs.  Make sure you add the shipping costs to determine a total price.  And when a site offers free shipping deals, jump on it!

In a recent post we told you that products sold in “as is” condition carry the biggest discounts, but they might be scratched, missing a part or even broken.  Here’s the “behind the scenes” story.  When it comes to retail store returns, retailers would go broke inspecting every single item to determine what, if anything, was wrong with it.  So, they get rid of it quickly through the secondary market.  Because the condition is unknown, it gets sold with an “as is” label, even though most times the product works just fine.  If you’re looking for a product that works and don’t demand new and factory-sealed, the best deals are on “As Is” or “Scratch and Dent” listings.  

Some web stores tell you what’s wrong with an “As Is” item and exactly what parts are missing.  If so, this indicates real people spent real time inspecting the product and expect to be paid real money for the effort.  This inspection process hikes the price slightly, but not much.