Consumer behavior changed dramatically in 2020. The shift from office to home led to a rise in business use of computers and laptops. Power tools were also in high demand, spurred by DIY enthusiasts and entrepreneurs who decided to start their own businesses from their garages. There are a growing number of entrepreneurs who have decided to develop a business selling power tools to satisfy this demand.
>>Find Austin Texas Liquidation Auctions Lots<<
Shop Pallets of Hardware and Tools Here – Free Registration
The purpose of this article is to provide tips for entrepreneurs and provide insight into the size and demand of the power tools resale market, as well as ways you can stock up on your business with power tools resale supplies.
- It is predicted that the power tools market will grow by 4% per year through 2027.
- A market value of $307.7 million was estimated for the second-hand power tools market in 2020.
- Power tools are in high demand due to the automotive industry and DIY segment.
- The current economic climate has forced buyers to be more price-conscious.
- The price of liquidated power tools is well below wholesale, so they are a great option to stock your resale business with.
Buying and selling wholesale power tools is a growing market
It is expected that the global power tools market will grow by 4% per year from 2020 to 2027, with a market value of $32.3 billion in 2019. A major driver of the increase in power tools is the automotive and construction industries, which involve tasks and jobs requiring power tools. Do-it-yourself (DIY) enthusiasts are also becoming increasingly interested in power tools. Most household members want their tasks to be completed as efficiently and quickly as possible. These home projects become more accessible as manufacturers keep improving their products. A growing supply of used power tools on the market is also attributed to the constant technological advancements.
According to 2020 estimates, the second-hand power tool market is worth $307.7 million in the United States. In 2024, the market will be worth close to $350 million. There is a lot of potential in this market. Where do you buy power tools for resale when you are a seller? Buying wholesale power tools is the first tip. There are often higher discounts and delivery cost savings when buying in bulk. We will now take a closer look at where you can get wholesale power tools.
The best place to buy wholesale power tools online
One of these platforms is BDSTX Wholesale Auctions. By using Boswell Data Systems TX auction based platforms, you get a lot of benefits. The first advantage is that you are buying from the comfort of your own home or for B2B buyers your place of business. Additionally, you can purchase merchandise at prices well below wholesale, which is a significant advantage. As liquidation and returns are mentioned, you may wonder what the value of such merchandise is? Let’s examine it in more detail.
Reselling wholesale power tools: Is it worth it?
We have already mentioned that customers return products and. There are many reasons why buyers return power tools.
Some of these reasons include receiving a damaged product or even an incorrect product. Especially in online sales, this is common. Online purchases are returned to retailers for various reasons in over 30% of all cases. Additionally, some buyers make full
use of the generous return policies and may not even purchase if the return policy is not suitable for them. More than 70% of buyers view the return policy before browsing inventory.
As a result, the products returned to the manufacturers are liquidated through BDSTX Wholesale Liquidation platforms in all sorts of conditions. In some cases, they may be used, others may malfunction, and it is not uncommon for them to be returned in their original packaging, unopened. Resellers can purchase merchandise in all kinds of conditions, including brand-new items. Buying wholesale power tools from a liquidation platform is certainly worthwhile for this reason alone.
You may ask, “Why wouldn’t I buy directly from the manufacturer?” Manufacturers prefer to work with companies that will take on large volumes of goods. Among such companies is Boswell Data Systems TX, a company capable of handling large volumes of inventory. BDSTX purchases truckloads of merchandise from major manufacturers. This is then broken down into smaller lots, and resellers can purchase lots, pallets or truckloads at wholesale price.
Source with BDSTX
Finally, you can use BDSTX to meet all your inventory sourcing needs. Learn more about buying return pallets, or get your business started by reading our BDSTX Seller Blog. By utilizing dozens of top retailers and manufacturers around the world, BDSTX offers heavily discounted products so that you can become a successful reseller.