BuyWander turns returns into bargain finds
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The Chicago store. Photo: Courtesy of BuyWander
A new retail store in suburban Chicago called BuyWander wants to be the savvy, frugal shopper's go-to destination for "misfit inventory."
Why it matters: Shoppers who like bargains or rare finds can score deals on returned, excess and out-of-season inventory, giving the product a second chance. Plus, the buyer picks it up from a warehouse in Addison, cutting down on shipping costs.
State of play: Major online retailers like Amazon, Costco, Target and Walmart often offer generous return policies, making shoppers less hesitant to buy, knowing they can just send it back.
Yes, but: Returning a product from Chicago doesn't mean it stays in Chicago; it often ends up somewhere it's not needed.
- Like a Bears jersey ending up in Boston or a snowblower in Sacramento.
How it works: BuyWander buys this inventory from about 40 different retailers and posts each item to its website for a starting bid of $1.
- Shoppers usually have 24 hours to bid on a product and the winning bidder picks it up at the warehouse.
- Buyers have a 7-day return window.
What they're saying: "Think Facebook Marketplace and OfferUp. We want to build the next TJ Maxx kind of that space," co-founder and CEO Jordan Allen says.
- "We're close to 3 million items sold through our platform ... electronic cow milkers, dog toys, kids toys, 18 and over toys."
Zoom in: A glance at the Chicago Website on a Wednesday afternoon features a breast pump ($46), mattress ($81) and portable car jump starter ($23) among thousands of diverse items for sale.
Between the lines: Allen says BuyWander cuts down on about 80% of an item's carbon footprint and could help prevent the product from ending up in the landfill.
What's next: BuyWander is expected to open its 8th store in Minneapolis in October.
If you go: The Chicago store is located at 1350 N. Greenbriar Drive, Suite A, in
Addison.
- It's open for pickup 10am-7pm Monday-Friday.