Restock Canada is a leading liquidator of Overstock, Open Box & Returns in Canada. We buy by the truckload from major retailers, and we sell to thousands of resellers and liquidation stores.
Our mission is to offer to independent retailers a wide variety of products with deep discounts, allowing them to sell brand name products with exceptional profit margins.
We offer products in various category; Computers, Electronics, Home products, Toys, Business products, Fashion, General merchandise and much more. Our lots are available in boxes, pallets and truckloads.
Restock Canada is The Source for Liquidation, Open Box & Returns in Canada!
Restock Canada was founded is 2013 with the goal to become a one stop shop for liquidation. We started buying lots of customer returns and overstock from many different sources and selling those inventories to consumers online. We figured selling on marketplaces like eBay and Amazon, was the best option for us, benefiting from a lot of visibility for our products without developing an expensive website and manage marketing campaign to attract customers.
From the start, sales were good. It was surprising to see how quick some products were selling, sometimes only few minutes after we listed them. But selling online is a difficult business. There is a lot of marketplace rules to comply with, and you must keep your customers happy in all circumstances as your business live and die with marketplace rating systems. Nonetheless, we managed to become a Power Seller on eBay and we had great success on Amazon too.
For each product we bough, we had to inspect, test, and sometimes repair, to list those on marketplaces as like new, used or refurbished. We purchased our inventory through multiple auction sites. At first, we liked it. We were buying pallets of merchandise for incredible prices. High quality products, many in their original packaging, only few defective items and we were paying penny on the dollars. But sometimes we were less lucky, and we were barely able to get our money back after selling everything. We had either paid too much to get the merchandise we really wanted, or just had back luck on the defective rate.
Sales were great, but we had an issue managing budget products. Online marketplaces are fantastic to sell electronics, home products and frankly, anything else. But it’s much harder selling 9.99$ items when you offer free shipping, as most online seller does. In 2016, we decided to sell our budget products in bulk to flea market and liquidation store. To avoid confusion between our regular business with consumers, we created a dedicated website for the wholesale business, www.restock.ca. The first few months were slow and needed to build a customer base and an attractive product offering. Nothing to compare with the quick start we had when selling to consumers through marketplaces, but we knew that we had to be patient, getting new customers one by one.
Sales were increasing and so was our need for more inventory. We found it increasingly more complicated to purchase through auctions. We were now buying 20, 30 or 50 pallets per weeks, but to achieve that, we had to monitor multiples auctions website, bid on plenty of lots, and try to guess which one we could get. Sometimes, we were bidding on few lots what we really wanted and at the last minutes, another bidder started a bidding war. We had to choose between paying too much or letting go and end up with no products at all. Other times, we were bidding on as much lots as possible to rebuild our inventory and ended up with way too many pallets and had to manage warehouse space to accommodate all those new products.
With both our consumers and wholesale business growing, we had to secure a better supply. We contacted all retailers and manufacturers we could, with the hope to establish a direct business with one of them and try to get a more steady and predictable supply flow. We ended up securing a first regular supply of 2 truckload per month. We needed more than that, but it was a great start and a relief to see some stability in our procurement, releasing some pressure from our auction purchase. Over time, we were able to establish business with some of the largest retailers and manufacturers in Canada.
At the beginning of 2019, we were receiving about 15 truckloads per months, most of them from direct contract with retailers and manufacturers, but a small part still sourced from auctions website. We had the feeling that it was more and more difficult to draw a profit from those auctions deals. Either we had too much defective products, or we paid too much and ended with thin margin or not at all. We then decided that, from now on, we were going to get our supply exclusively from direct contract, with predictable products flow and cost, no more surprises. That strategy proved to be beneficial as few more suppliers joined us and we were rapidly able to replace entirely our auction supply.
Throughout 2019, our wholesale business kept growing at an accelerated rate. More people were subscribing daily to our website, www.restock.ca, and our newsletter. There was only one thing that kept our wholesale from growing even faster, our consumer business. Each time we received merchandise, the high value items were put aside to sell directly to consumer through online marketplace, and all budget items were sold in lots to reseller through our website. When we started the wholesale business, we used it to liquidate all product with a retail price of 35$ or less. We gradually increased the target price to 50, then 100 and ultimately 200$, to keep a steady supply for our wholesale customers, and at their request.
Our volume was now up to 25 truckloads per month and the impact of increasing the value of the products we sold through www.restock.ca was instant. Our customers were happy to get access to those products, easier to sell, and we were happy to accelerate the product rotation. Also, we realized that some of our customers had better ability than us to handle specific products category. They had access to affordable spare parts, available working space in their store or warehouse, they were often specialist of the products they were buying from us, as they were already selling those daily. They had less fees to cover for the same operation than we did. The saying goes: Jack of all trade, master of none. It’s at this moment that we decided that we would be the specialist of one thing, the liquidation. From now on, we would focus on receiving the merchandise, sorting products by category and finding the most suitable client for each category to extract the best value for our clients and our suppliers.
The consumer business was doing great, but we needed to quit and focus entirely on the wholesale division. As much as it is difficult to close a profitable business, we understood that keeping valuable products for our consumer business meant that we couldn’t have a complete offer for our wholesale clients. At the summer of 2019, we decided to put all our energy on www.restock.ca, now with thousands of registered buyers. After only few months, we officially closed our consumer business along with our marketplace accounts. Without surprise, the new influx of products brought to www.restock.ca had an instant positive impact on sales, just as we had anticipated.
Fully dedicated to our wholesale business, Restock Canada continues to grow and add new partners and customers to offer an always broader inventory to our clients. To this day, we still dislike the auction format, so all our lots are sold in fixed price, whether it's overstock, customer returns or salvage. We are proud to offer to our clients a stress-free environment, a clear offer, and a wide range of products available online with detailed manifest and fair pricing. We establish long term relationship with our clients through a predictable product supply, and with our supplier as we optimize their asset recovery through effective process.
We understand the needs of our clients because we were one of them. We seek to be the supplier that we couldn't find.