GENCO’s NoBetterDeal.com Liquidation Site Reveals 61% of Products Have “Open Box” As Only “Defect”

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NoBetterDeal.com growing at 40% annually; Total GENCO liquidations at $5M daily throughout an 87,000 buyer network.

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Consumers like to save their money for real luxuries, not the luxury of paying retail prices for the same products they can find in the secondary market at a fraction of the cost.

GENCO Supply Chain Solutions, North America’s second largest and a Global Top 50 third-party logistics provider, today announced that its NoBetterDeal.com business-to-consumer liquidation site is primarily populated by products with “open box” as the single characteristic differentiating them from “new”. NoBetterDeal.com is an online store where bargain shoppers can purchase high-quality surplus inventory and retail returns at below wholesale prices, with cost savings as high as 60 percent. Regularly available items include TVs, computers, digital audio and video, gaming systems, appliances, baby items, furniture, sports equipment and more. GENCO is able to provide the lowest prices by running cost-comparison software analysis in real time before listing its products.

The latest analysis not only reassures consumers they are getting high-quality items for the lowest possible cost, but underscores NoBetterDeal.com’s ability to support consumer purchases with a 14-day money back guarantee. The “breakdown analysis” of NoBetterDeal.com products revealed the percentage of products falling into the following categories:

  •     New – 17 percent
  •     Open Box – 61 percent
  •     As Is – 21 percent
  •     Refurbished – 1 percent

“Given the quality of the product and the power of word of mouth around our site, we’re not surprised at the excellent growth we’ve seen with NoBetterDeal.com,” said Bob Auray, President and CEO of GENCO Marketplace. “Consumers like to save their money for real luxuries, not the luxury of paying retail prices for the same products they can find in the secondary market at a fraction of the cost.”

The National Retail Federation estimates approximately 8.7 percent of all goods purchased in 2008 were returned – representing $219 billion worth of returned goods. Almost half the goods were eligible for the secondary market. GENCO estimates that 65 to 70 percent of products that it processes for liquidation have nothing wrong with them.

NoBetterDeal.com was started by GENCO Marketplace, America’s largest wholesale liquidator of retail returns and closeouts. Every day GENCO liquidates more than $5 million worth of returned and surplus items from major retailers and manufacturers. Most items are sold in pallet and truckload quantities to other liquidators and discount retailers. However, a portion of this merchandise – in new and like-new condition – is sold individually by GENCO to bargain-conscious shoppers on NoBetterDeal.com.

About GENCO Marketplace
GENCO Marketplace, a subsidiary of GENCO Supply Chain Solutions, is America’s largest wholesaler of retail returns and surplus inventories. The company brings together buyers and sellers to automate and speed the sell cycle for remarketed products. Buyers benefit from a steady supply of products, while retailers and manufacturers liquidate inventories faster for maximum return. GENCO Marketplace’s liquidation channels include direct sales by the truckload to high-volume buyers, internet auctions of truckload and pallet quantities on the company’s B2B web site - http://www.gencomarketplace.com, and sales of individual items on eBay and the company’s new B2C web site - http://www.NoBetterDeal.com.

About GENCO Supply Chain Solutions
GENCO Supply Chain Solutions is North America's 2nd largest and a Global Top 50 third-party logistics provider and the recognized leader in reverse logistics. The company manages 125 operations and 37 million square feet of warehouse space throughout North America for a diverse range of retail, manufacturing and government customers, including many Fortune 500 companies. The company provides initial and ongoing value through a complete range of solutions, including contract logistics, transportation logistics, parcel negotiation and audits, reverse logistics, damage research, product liquidation, pharmaceutical services, government solutions and supply chain technology solutions. For more information, visit http://www.genco.com

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Jennifer Bannan
GENCO
412-580-3675
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