New platform leverages real-time data to enable retailers, manufacturers and wholesalers to buy and sell in a transparent and efficient way
MIAMI, FL / ACCESSWIRE / January 12, 2023 / goTRG, a global leader in returns management and reverse supply chain, today announced the launch of goWholesale, a new platform that leverages real-time data to enable retailers, manufacturers and wholesalers to buy and sell new, refurbished and overstock premium wholesale goods. This new platform, similar to how StockX helps consumers buy and sell sneakers, provides a unified approach to wholesale buying and selling, allowing retailers and manufacturers to exit new and refurbished electronics. goWholesale also offers wholesale buyers a marketplace exchange that offers a sophisticated, transparent and gamified buying experience.
The platform already has tens of thousands of retail-ready new and refurbished products from top brands like Apple, Sony, HP and Microsoft. Major categories include smartphones, headphones, video game consoles, wearables, computers, TVs and non-electronics such as toys, tools and home improvement items.
The $10 trillion wholesale industry, which has been steadily growing over the past two years, is one that needs a revamp, with the current buying and selling experience seen as clunky and disjointed. In particular, the approach to shipping is inefficient and overpriced. Typically, wholesalers grapple with receiving partially filled pallets that come from many different locations instead of one contained order. The current process is also shrouded in secrecy when it comes to price since there's no public record of what an item has sold for historically. As retailers today face increasing overstock issues and look for ways to clear their shelves, this new platform allows wholesalers to pick and purchase any combination of items or brands to build up their own inventory.
"Wholesale buying can be a very antiquated experience," said Sender Shamiss, CEO of goTRG. "We're bringing to life a new platform that allows retailers, manufacturers and wholesalers transparency for buying and selling products. It has never been done before. With the overstock issues that are plaguing the retail landscape today, it is the perfect opportunity to show retailers that there is a way to exit inventory and receive maximum recovery, preventing product from making its way into landfills."
Specific features include:
- Shipping visualization tool with information about how full each box or pallet is as items are added to orders, which helps wholesalers take advantage of filling up an entire box or pallet versus paying to ship one that isn't full.
- Location selection, offering the ability to pick location of where items are coming from, which helps to reduce shipping costs, impacts on the environment and items arriving to wholesalers from different locations at different times.
- Price history tool with data that showcases pricing suggestions and history of product sales, allowing wholesalers to negotiate prices for items to get the best purchase rates. Once the initial price of the item is set, the market will then dictate pricing fluctuations.
The platform fosters a gamified experience to help lead to faster sales by negotiating anonymously via goWholesale's ask and offer engine to quickly arrive at the best price. When a buyer submits an offer, any seller with the same inventory will get a notification and see what that buyer's offer was, so the seller knows whether their inventory is listed at a competitive rate or not. This allows them to reduce or increase their prices so that they can move products faster.
"We're excited to launch a platform that makes the wholesale buying and selling process more seamless," said David Malka, Chief Sales Officer of goTRG. "You can think of the platform like a game where retailers are racing to click to sell their products. This is the first time the wholesale market is going to have a place where inventory can be sold for the right recovery."
Founded in 2008, goTRG specializes in returns management for returned and excess inventory, using a data-driven approach to identify the most profitable resale path for returns and distressed inventory. The company manages returns for several of the largest retailers in North America and resells items across a network of 20+ secondary marketplaces. goTRG employs over 2,000 individuals across 14 locations globally, totaling over 2 million square feet of warehouse space. goTRG was named to Fast Company's Most Innovative Companies list and Inc. 5000's Fastest Growing Companies list in 2021.
For more information visit www.gowholesale.com
goTRG transforms returns into profit-driven opportunities for the world's largest retailers and manufacturers. As the only company to offer returns management solutions for the complete reverse lifecycle, goTRG can enable returns from anywhere to anywhere, identify the most lucrative disposition path, manage the entire reverse supply chain process (including refurbishment, repair, sanitization, data wiping, accessorizing, re-kitting), route items to the most profitable resale channels and physically and financially reconcile the entire product return journey. This end-to-end approach guarantees maximum exposure and highest recovery for returns and distressed inventory. goTRG was named to Fast Company's Most Innovative Companies list and Inc 5000's Fastest Growing Companies list in 2021.
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