Industry-targeted website opens new sales channel for first-quality closeouts
CHARLOTTE, N.C. – A new website targeted at the imprinted sportswear and ASI industry, www.knitshirts.com, was officially launched the last week of March.
The site sells discontinued, closeout and overstock apparel and accessories at prices below wholesale. While the site is open for consumer purchases, it caters to the reseller market with volume discounting and tax-exempt recognition.
Modeled after highly successful retail overstock websites, knitshirts.com fills a niche in the business-to-business market for immediately available, brand name goods at steeply discounted prices. The prices offered by knitshirts.com allow resellers the opportunity to put together a high-quality program in a matter of minutes. Because the knitshirts.com inventory and order processing are online, customers are not limited to conducting business during traditional operating hours. What’s more, resellers can save a tremendous amount on shipping at knitshirts.com since the site offers free shipping on all purchases over $19.99.
The site also provides a new channel for manufacturers to sell surplus, first-quality current and discontinued inventory. Orphaned inventory usually consists of overruns, odd lots, and/or dropped styles. It creates an ongoing battle for most manufacturers as it takes up valuable warehouse space and loses more of its value everyday. In response, most manufacturers sell this inventory to liquidation houses for pennies on the dollar, which oftentimes are then sold in channels outside of the industry. The concept of knitshirts.com is to give manufacturers the opportunity to sell some of these orphaned goods to individual resellers at prices that allow them to recoup a larger portion of the original production cost while still offering substantial savings to the reseller customer.
“The initial response to the site has been very positive,” said Tom Benson of knitshirts.com. “We have heard from several customers who plan to use the site to supplement their traditional supplier channels. That is precisely the position we want to occupy in the market. We will never have the level or depth of inventory that a traditional wholesaler can offer. And because of the nature of our business, our style mix is constantly changing. We will consistently add new merchandise to the site throughout the year.”
According to Benson, future plans for the knitshirts.com website include broadening the number of manufacturers selling on the site and establishing a customer advisory board to make certain that the knitshirts.com concept continues to evolve into a format that is valuable to both the customers and manufacturers it serves.
COPYRIGHT 2004 PRIMEDIA Business Magazines & Media Inc. All rights reserved.
COPYRIGHT 2004 Gale Group