News
BuyBay, a leading recommerce expert in Europe, helped Dutch electronics retailer BCC to liquidate 17 stores following its bankruptcy, with a focus on clearing eight key locations for MediaMarkt, one of Europe’s largest electronics retailers, before Black Friday. This partnership enabled BCC to efficiently clear over 40.000 electronic products within a month and resell them in a short period of time, financing their liquidation process.
BCC faces time pressure to liquidate stores for MediaMarkt
Facing a tight timeframe, limited operational support with high consumer demand, including some aggressive behavior at their stores reported by media before, BCC urgently needed to hand over eight stores, to MediaMarkt before Black Friday.
Also, BCC had a diverse range of products in different conditions, such as new, display items, older models, and returned goods, each requiring a unique approach to maximize resale value. A one-size-fits-all solution would not be an effective solution to them.
BuyBay clears products quickly to ensure BCC has funds for liquidation process
BuyBay, leveraging its longstanding partnership with BCC, stepped in with a comprehensive liquidation solution. Since 2021, BuyBay has been BCC’s trusted partner in processing and reselling returned products and overstock, extending the lifespan of over 110.000 products and ensuring they reach consumers across Europe.
BCC appointed BuyBay to manage the entire stock clearance and resale process for the eight stores to be transitioned to MediaMarkt before Black Friday, along with an additional nine stores. For this liquidation project, BuyBay deployed a specialized team to manage the process, from on-site store clearing to reselling the products.
BuyBay’s stock clearing teams were responsive, handlingtasks from packing products at various locations across the Netherlands to sending and storing them at BuyBay’s grading center.Once products were stocked, BuyBay assessed their value with its recommerce software “You Grade”, featuring smart pricing algorithms. This enabled resale across over 20 recommerce marketplaces and BayBay’s auction platform, Beluga Auctions. The software assessed each product’s condition and market demand to determine the optimal sales channel. BuyBay is the only European recommerce expert that has this technology to streamline the grading and reselling process. As a result, some new popular products such as tablets, laptops, and smartphones were resold at an average of over 89% of their original retail value.
Dennis Oolbekkink, Business Analyst at BCC who managed the liquidation process, expressed his satisfaction with the results: “BuyBay took full control of the entire liquidation process, unburdening us and accelerating the process. We’re also pleased to have contributed to the circular economy by collaborating with BuyBay to extend the lifespan of these products.”
Machiel Tiddens, CEO of BuyBay, commented, “Over the past three years, we’ve collaborated closely to maximize BCC’s recommerce profits and prolong product lifespans. BCC’s choice of BuyBay as their liquidation partner reflects their confidence in our ability to provide efficient, sustainable, and profitable recommerce solutions.”
Note: In addition to MediaMarkt, BuyBay managed the liquidation of inventory at the BCC branches in Amsterdam-West and Leeuwarden, ensuring the spaces were cleared and funds were secured for CoolBlue’s move-in.
