PHOENIX, Nov. 9, 2021 /PRNewswire/ -- Liquidity Services, (Nasdaq:LQDT), operator of the world's largest e-commerce marketplace platform for business and government surplus, today announced the launch of AllSurplus Deals, a new online consumer marketplace dedicated to powering the circular economy by offering "new-life" for returned and overstock items at deep discounts directly from top retailers and manufacturers. A smart way for consumers to shop on a budget, AllSurplus Deals offers an ever-changing mix of valuable merchandise across a broad range of categories, including home electronics, toys, furniture, fitness and outdoor equipment, sporting goods, baby necessities, pet supplies, home improvement items and general retail merchandise.
"Phoenix was the perfect location to launch our new AllSurplus Deals program, as we have strong supply and consumer demand in this area," said Jeff Rechtzigel, Vice President of Retail at Liquidity Services. "This exciting new business model provides consumers direct access to deeply discounted returned items just as shoppers enter the holiday shopping season while ensuring none of these items are needlessly discarded."
How it Works
Under the new program, registration is free, and consumers bid on items at AllSurplusDeals.com. Before being entered into the auction, each item is screened, checked for defects, and photographed to capture the condition of the item. Returned items typically can't be sold as new, so while some items might not be in mint condition, all are remarkably affordable. Auction winners pay for their items online, then schedule an appointment for curbside pickup Monday through Friday at the company's new 85,000 square foot Phoenix warehouse that was built to store up to 50,000 items. The new facility will employ between 75-100 people across various job functions and will integrate best-in-class retail technology to support a high-quality customer experience.
What Happens to Returned Items?
Last year, ecommerce accounted for $565 billion or 14 percent of total U.S. retail sales. Of that, approximately $102 billion of merchandise purchased online was returned. According to the National Retail Federation, online returns more than doubled in 2020 from 2019.
During the COVID-19 pandemic, consumers shopped online more than ever, and returned items became even more prevalent. "The truth is, returned items typically can't be sold as new, so most major retailers work with a company like Liquidity Services to resell those items on the secondary market. Curbside pickup of these returned items through our AllSurplus Deals program will help buyers and fuel the circular economy by reducing shipping costs, landfill waste and carbon emissions," added Rechtzigel.
Liquidity Services plays an integral role in many of its clients' zero-waste initiatives and has worked with corporations, federal and municipal government agencies to pioneer some of the largest green initiatives, deferring countless surplus assets from landfills. The company supports sustainability efforts by helping clients extend the life of assets, prevent unnecessary waste, carbon emissions, and keep products out of landfills.
Consumers in the Phoenix region can visit AllSurplusDeals.com today to shop for local deals in Arizona.
About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $8.5 Billion in completed transactions, to nearly four million qualified buyers worldwide and 15,000 industrial, retail and government sellers. AllSurplus.com is Liquidity Services' comprehensive online marketplace for business surplus, ranging from heavy equipment to transportation assets and industrial machinery. The new consumer marketplace, AllSurplus Deals, makes retail surplus items available for consumers with fast and friendly curbside pickup at the company's new Phoenix warehouse. For more information visit LiquidityServices.com.
Press Contact:
Karen Blondell
Lightspeed PR/M for Liquidity Services, Inc.
424-263-7371
karen@lightspeedpr.com
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SOURCE Liquidity Services
