Could “Biggest Retail Clearance Store” Change the Discount Game? – RetailWire
June 14, 2021
Quicklotz liquidations, which comes from ad plans to open nation’s ‘largest retail liquidation store’, is one of a number of retailers mixing gamification and scavenger hunt experience to reinvent the liquidation process in retail of bricks and mortar.
Anchored in the Northeast Mall in Hurst, Texas, the 140,000 square foot store offers a “trash shopping experience” offering over 50,000 items per day at up to 90% of regular retail prices. Assortment includes excess inventory from Walmart, Amazon.com, Nordstrom and others, including returns, shelf prints, overstocks, clearance, damaged merchandise, and salvage.
The outstanding feature hosted on the site, however, is ubiduwin, which translates to “you bid, you win” and described as “America’s fastest growing online auction”. Ubiduwin.com, which has more than 15,000 currently registered bidders, offers two-minute “fast, furious and fun” selling cycles with entry bids starting at $ 5.00. Winning bidders can pick up their items from Hurst’s site or have them shipped anywhere in the United States
On the ubiduwin.com website, recent items available for auction included a Coleman camp bed and air mattress with a retail value of $ 156 and a 50 lb ProForm. dumbbell retail value of $ 269. Quicklotz has six outlets in total.
The major trend in liquidation retailing is the daily decreasing price pattern.
Give me $ 5!, with 13 locations in the Southeast, prices for all items are $ 5 on Saturdays and Sundays as the locations are restocked. Prices are reduced to $ 3 on Monday, $ 2 on Tuesday, $ 1 on Wednesday and Thursday, and a quarter on Friday.
Crazy Cazboy’s, Krazy Binz, Good Deals, Dream Deals, Quarter 2 Five, BINge, and Daily Dealz are other banners that use the concept of daily price drops.
Give me $ 5! says on its website that beyond purchasing overstocks and bulk returns, savings come from placing merchandise in bins to avoid the expense of organizing and stocking standard shelves. Setting a price per day eliminates the labor costs of pricing individual products.
Daily drop locations typically have outside lines on restock days, with the deals being promoted on social media.
Speaking to TennesseeAdam Harrington, co-owner of Gimme A $ 5, said liquidators typically use sites like eBay to sell excess inventory, but items under $ 50 are not worth the time to photograph, pack and pack. to post. He said, “They send us the cheapest products.”
DISCUSSION QUESTIONS: Is gamification, whether through flash auctions or the daily descending price model, particularly suited to liquidation retail, or can other types of retailers join in? Are clearance stores becoming a better way to eliminate overstocks and returns compared to online auctions, flea markets and other traditional reseller markets?
“Adding gamification to a scavenger hunt scenario will definitely grab some attention. It remains to be seen if that will last over time.”