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If the retailer accepts the offer, the
buyer pays into a third-party escrow
account, including the cost for the ship-
ping. BoxFox handles the back-office
logistics so the selling retail r just
needs to print a label and schedule a
pick up. The buyer then has three days
to review the order for accuracy, after
which time the seller gets paid. At the
end of the day, sellers typically recoup
60 to 70 percent of their inventory
costs, say BoxFox executives.
The BoxFox network of buyers in-
cludes more than 1,500 pre-qualified
businesses ranging from domestic
and international discounters and
clearinghouses to other online and
brick-and-mortar retailers. Working
with a large and diverse group of buy-
ers, says Van Deman, allows BoxFox to
accommodate the needs of he sellers,
such as when product is not allowed
to show up on Amazon or must be
sold only in the U.S. or maybe can’t
be sold in the U.S. Likewise, BoxFox
says it works with sellers to make sure
product is moved in ways that mesh
with requirements and expectations.
It also encourages sellers to stick with
off-MAP product when using the mar-
ketplace in order to avoid any issues
with vendors.
BoxFox retail members tend to be
smaller specialty stores (the target mar-
ket is one- to 10-store operations), says
Van nt of re-
tailers coming from the sporting goods,
running and outdoor retail segments.
How and how often retail members
engage the platform depends on their
specific needs, business models and
preferences. Some prefer to buy and
sell through BoxFox once a year, for
an annual clearance sale, while oth-
ers wi ularly at the start of
the m cash
quickly and reinvest it into newer and
hotter product.
BoxFox, for its part, recommends re-
tail partners utilize the platform four to
six times a year, as the seasons change
and the occasional bad buy rears its
head. That’s particularly true for indus-
tries such as sporting goods and out-
door where new introductions come to
market on a regular, ongoing basis.
“We would like to become a regular
p t of their markdown process,” says
Van Deman.
Considering the simplicity of the
platform for sellers, the no-obligation
bidding process, the out-of-market
sales, and the zero cost/risk to list
surplus inventory – as well as the
alternative negative effects of holding
onto aged and unwanted inventory
too long – we’re betting most out-
door specialty retailers will appreci-
ate the assistance.
September - October 2015
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