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Liquidator Genco launches new direct-to-consumer e-commerce site
The logistics and liquidation company has formally launched its own e-commerce site, NoBetterDeal.com. It will sell new and like-new products such as televisions, laptops, iPods and other electronics, video games, furniture, tools and sports equipment.
Managing Editor, International Research
Genco Marketplace, which liquidates $5 million a day in excess inventory and returned items through a wholesale web site and offline channels, has launched a direct-to-consumer site that will sell new and like-new products in single units.
The site, NoBetterDeal.com, is aimed at bargain hunters and will feature discount prices on such items as televisions, laptops, iPods and other electronics, video games, furniture, tools and sports equipment.
“Because our products are sourced from quality liquidation stock, NoBetterDeal.com can offer discounts shoppers rarely see, even at the most aggressive clearance sales,” says Robert R. Auray Jr., CEO of Genco Marketplace, a unit of Genco Supply Chain Solutions, a logistics and liquidation services provider.
Genco operates GencoMarketplace.com, which sells excess inventory by the pallet and truckload, and accounts for about 25% of its $5 million in daily sales of liquidation merchandise. The company began testing last year a consumer-facing site called GencoMarketPlaceDirect.com. With the launch this week, Genco is renaming the site NoBetterDeal.com and added a tagline designed to appeal to bargain seekers: They won’t believe what you paid.
Auray says, even with offering very low prices, sellers can recover 30-50% more by selling items directly to consumers rather than to wholesalers, dollar stores or eBay merchants. But, he notes, disposing of inventory typically takes longer when it’s sold one piece at a time. “Our job is to optimize recovery,” he says, “and that doesn’t always mean B2C.”