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but positive growth.” But a fi nal key to success remains price, he adds. “We only carry items that we can sell at a big discount to our customers. There’s nothing that we carry at regular whole- sale prices. Everybody wants to make their dollar worth as much as possible. They want to stretch their buying power. This is part of everyday merchandis- ing, and everybody is looking for a bargain.” That’s especially true for
shoppers looking for deals in online auctions. Wayne Peck- ham owns A & W Surplus, an
online auction house where par- ticipants bid on closeout items every Wednesday. He’s opti- mistic about closeouts too, with good reason. “I’ve been in this business for about 20 years,” he says. “When the economy really started to get worse, a year, year and a half ago, we started grow- ing, because everybody wants to make something extra now. Peo- ple have had hours cut, lost their job, whatever. They are looking for ways to make money, and this is one of the best ways.” Peckham reports there is a lot
of demand for discount merchan- dise. “You get a lot of people who want to supplement their income by selling on eBay or at a fl ea market. Some are trying to start a business. There are a lot of people right now trying to make extra money. So this market is a very good market for us. This last year, we’ve doubled what we sell, doubled our size, because of everybody buying. We sell a lot of electronics, general merchan- dise, and closeouts,” he says of his business. “We sell a little bit of everything, every Wednesday. We sell anything from one item at a time to pallets at a time.” About 25 percent of Peck-
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ham’s customers are independent retailers, he says, and those customers need to change it up. “Anybody in this type of busi- ness has got to get new inventory, every week. You’ve got to build up your customer base. Try to sell for half of what big retailers do. If it is the right stuff, it sells
continued on page 97 Online at INDEPENDENTRETAILER.COM
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