The price of inventory is expensive and just keeps increasing, not to mention other expenses like rent and utilities, insurance, employee salaries, and more. Having a retail section will help enable a store to stay in business. The retail section is more of a liquidation store model where the items are sold for a discount. However, many stores do separate larger and more expensive items into a retail section. Store customers would love if everything was put in the bins and even expensive items were sold at bin prices. Why do some bin stores have retail sections and auctions? That is the great thing about bin stores – you can buy the item at the day’s price or you can come back on a cheaper day and hope nobody else bought it. There will be items you want that you do not feel are worth the daily price. When stores are known to have good inventory, customers will line up hours before opening so they can get the first chance at finding the best items.īe prepared to dig through the bins to see what you can find. If you visit the store when they open on a restock day, expect many people and a lot of competition. Store owners sell the more desirable inventory at higher prices and can still make money from the cheaper items on the lower priced days. People purchasing for their own use can find good deals. Resellers can usually find some items with a good profit. If an item is too expensive, the customer can come back another day when it is cheaper and hope it is still available. The pricing strategy of the bin store concept is great for both store owners and customers. These increases also mean that prices have risen for customers purchasing items for their own use. At those prices there is little profit margin left after shipping and selling fees. This has made finding inventory much more difficult for online sellers. Stores that used to charge prices at 20-30% of the Amazon or eBay price now seem to sell at 50% or more. As these stores have become more popular, prices have risen and great deals are scarce. Then the price raises back up and the cycle begins again once items are restocked.įor years, liquidation stores with individually priced items and weekly auctions have been dominant.
When the bins are restocked, the store will charge the highest price and then each day the price will go down (many stores have $1 as the lowest price).
Everything in the bins will cost the same price. The items are put into large bins at the store so that customers can dig through and try to find great deals. The concept is the same for all – the price drops daily.ĭaily price drop bin stores purchase inventory in bulk via truckloads or pallets. Other common names for these kinds of stores are Amazon bin stores, Amazon return stores, overstock bins, $5 bin stores, liquidation bin stores, or bargain bin stores. Check out Bin Stores in Canada for more info.Īnother type of bin store is a pay by the pound store, for locations and more information on those check out this page on Goodwill Outlet Stores. Canada also has quite a few daily price drop bin stores.
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