Returns and overstock online liquidation company ReturnBuy Inc. has launched a new web site focused on returned and surplus consumer electronics. ReturnBuy has been selling returned goods for retailers and manufacturers on eBay since 1999, becoming one of eBay’s biggest sellers while eBay has become an investor in the Ashburn, VA-based company. The launch of ReturnBuy.com positions it to capture more of the total e-commerce market, the company says. ReturnBuy will also continue its offering on eBay.
“Returned open-box items have always been a challenge for retailers and manufacturers,” says Walt Shill, ReturnBuy CEO. “We saw an opportunity to take these returned, premium consumer electronics off their hands and into the consumers’ homes at drastically reduced prices.”
In fact, ReturnBuy says consumers’ tendency not to thoroughly research electronics products before they buy them is resulting in “massive” products returns that are fully functional but can’t be sold as new. ReturnBuy offers consumer electronic products from more than 20 manufacturers and retailers on its own site, and estimates that 75% of the site offering consists of returns in mint, like-new condition available at an average 60% below retail prices.
Products are inspected and rated by ReturnBuy against manufacturer specifications on their functionality, condition, parts and other quality criteria. To launch the new online store, ReturnBuy is offering a promotion that includes free warranties on all qualified products, free shipping and no charge for every 100th item sold online. A sweepstakes offers the winning consumer the opportunity to have en entire home outfitted with electronics including televisions, DVDs, computers and other products.
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