(GMA/WTNH) — The post-holiday rush to make those gift returns can help you find big shopping discounts on some popular items.
News 8 is stretching your dollar with how auction and reselling sites come into play.
According to the National Retail Federation, this year, 1-10 gifts are expected to be sent back. But with some restocking fees costing stores more than they can make, you could still get your biggest holiday shopping deals yet.
If a store thinks it can’t turn a profit on a returned item it will send them to “re-commerce” websites like Blinq or Shorewood Liquidator’s sliBuy Auctions. The sites will inspect and photograph the items and resell them at a fraction of the retail price
“Retailers don’t have the processing power to resell all the holiday returns that they receive, and so they work with companies to figure out other ways to resell these items,” explained Andrea Woroch. “Oftentimes, these products then end up on third party discount shopping sites, which is a huge benefit to shoppers who can snag popular items at a deep discount.”
On sliBuy, which works like eBay, shoppers can place bids on items for sale starting at just $1.
ABC News found everything from air mattresses to speakers and Roomba and chairs.
“When the items are returned to the retailer, they go back to the retailers’ facilities, then they get manifested, after they get manifested, they get put on trucks and the trucks come to us,” explained Michael Ringlesten, President of Shorewood Liquidators.
Blinq is another site where you can save more than 70% on returned and overstock merchandise from major retailers like Apple, Frigidaire, Kenmore – even savings on makeup and designer handbags.
These sites and prices are always changing, so you need to hunt around for the best bargains.