This startup is helping consumers get great deals on overstock products.
Just last week, the Wall Street Journal ran an article about how there is a lot of overstock in supply chains right now. The WSJ reported that there is a lot of overstock in “appliances, apparel and outdoor furniture that never made it to stores” and as a result brands are being forced to turn to liquidators to get rid of that overstock.
But wouldn’t it be better if brands could just sell that overstock directly consumers? It would certainly make consumers happier!
That’s where Plaza Bid comes in. Plaza Bid is a new startup in Lima, Peru that is launching a digital marketplace connecting brands who have overstock with consumers who are eager for a great deal and a fun new shopping experience.
The platform includes support for different buying modes, from bid-based auction to “buy it now”, and has a particular focus on premium brands that are sometimes priced out-of-reach for lower income consumers. This combination of a fun buying experience and being able to access to premium branded products makes it popular with consumers across Latin America.
The most successful digital marketplaces worldwide are the ones that offer clear benefits for both buyers and sellers. Plaza Bid is a great example of a marketplace startup that provides solid value both to brands with overstock, and consumers who love a great deal.
Plaza Bid will be presenting at Demo Day in the 4thly Startup Accelerator on July 7th.