If you love discount shopping and finding deals, a bin store is the perfect place for you to shop. Some other common names for bin stores are Amazon bin stores, bargain bins, Target liquidation stores, and overstock bin stores. Even if you have heard of them, you may still be wondering what is a bin store and how does it work?
Bin stores are found throughout the United States and Canada. See our directory of bin stores to find one near you. Although there are some bin store chains with multiple locations, the majority are small family run businesses.
A bin store sells liquidation, customer return, and overstock items from retail stores which they purchase in bulk, usually by the truckload. These items are placed into large bins for customers to dig through, and everything is sold for the same price. You never know what you’ll find at a bin store. When new items are restocked in the bins, the store charges the highest daily price. Each day the price drops. After the lowest priced day, the store will restock and the cycle restarts. An example of a typical bin store pricing schedule is $10 Friday, $8 Saturday, $7 Sunday, $5 Monday, $3 Tuesday, $1 Wednesday, and closed to restock on Thursday.
Restock day may be expensive, but it is the best time to find hidden treasures. There will be competition from other customers though so be prepared. If a store consistently sells good inventory, people will be lined up hours before the store opens so they can have first dibs. There will be both resellers and people looking for personal items. Although there are great finds to be had, the majority of items you see on restock day at a bin store will not be worth the price. This is where the daily price drop comes into play. Return to the store later in the pricing cycle and if nobody else has purchased the items, you can buy them for a lower price. Since the items are often returns, make sure to check thoroughly to ensure everything is complete and not broken. Most stores have testing stations for this exact reason. Bin stores usually do not accept returns.
In addition to the price dropping bin items, many bin stores have started adding in liquidation store style fixed price sections. The stores will price these more expensive items individually instead of selling them for the daily bin pricing. For example an item that retails for $200 may be sold in the liquidation section for a $100 fixed price, which does not change. The reason for this is that the cost to purchase inventory has increased for bin stores. To make a profit and stay in business, many stores have started to pull more expensive items.
Another place you can visit to get cheap items is a Goodwill bin store. There are many locations throughout the United States. See our directory of Goodwill bin stores to find one near you. These stores have large bins you can dig through to find items. However their items come from customer donations. Many of these donations are sent to regular Goodwill thrift stores. Items not sold in the thrift stores and excess donations are sent to the Goodwill bins. Since the items are donations, be sure to check everything for damage.
New bins with fresh inventory are switched throughout the day at the Goodwill bins. People will crowd the bins to get the new inventory and can be aggressive in grabbing items. The same customers usually are at the bins every single day and can sometimes act territorial which is something to keep in mind.
Instead of daily pricing, items at Goodwill bin stores are sold by the pound. Some stores give a per pound discount if a large amount of items are purchased. Other stores separate soft goods from hard goods, giving different pricing for each.
Bin stores are a great place to get discounted items. If you are interested in Amazon, Target, Walmart, Home Depot, Dollar General, and other retail store items, you definitely should check out a bin store near you. Goodwill bin stores are another great place to purchase affordable used items that have been donated. Now that you know what a bin store is and how it works, I wish you the best of luck in finding some amazing deals!
FAQs
What is a bin store, exactly? It's a retail store that sells overstock, returned, and clearance merchandise from major retailers. The merchandise is typically sorted into bins (in case you were wondering where the name came from) by category, and shoppers can dig through the bins to find deals on name brand products.
Are bin stores worth it? ›
Carrick credits the deals for bin stores' growing popularity. "We have had customers find items that retail for as much as $3,500. It's a fun way to shop where the customer basically sets the price," he said. "If you think the item isn't worth $14, wait it out and come back on $3 or $1 day."
What is a bin and how does it work? ›
The BIN helps merchants evaluate and assess their payment card transactions. The number allows merchants to accept multiple forms of payment and allows transactions to be processed faster. BINs can help financial institutions identify fraudulent or stolen cards and prevent identity theft.
What is the purpose of bin storage? ›
A storage bin is a spatial unit for the logistical storage of goods and merchandise of any kind. A storage bin can be, for example, a storage space for pallets or a rack space in a high-bay warehouse. The storage location and the storage bin are often used synonymously, but this is incorrect.
Can you make money reselling from bin stores? ›
Bin Store reselling is when you buy liquidation pallets and set up the merchandise in fixed-priced bin for reselling, to give your customers significant savings. As your customers buy and pick over your newest merchandise, you slowly lower the price throughout the week to try and maximize your sales.
Why would someone steal a bin? ›
There are many reasons why people do this. Stealing items or the bins means that they could keep the items for themselves or try to resell them. This makes the theft of the items and the bins very valuable. They may also want to get their hands on sensitive information like your bank account details.
Are bin bags sanitary? ›
It is unlikely to be made from food grade plastic, and many garbage bags have insecticides or fragrance added.
What makes a bin store successful? ›
Because bin stores sell items for dirt-cheap prices, their profits depend on moving a lot of volume. Tom Shultz broke down what he makes at Deal Daze, a 10k-square-foot bin store in Winter Haven, Florida. In one month, he spent ~$23.5k on inventory for a total overhead of ~$33k.
Where do krazy bins get their items? ›
How Krazy Bins Works. Here's how each Krazy Bins discount store works: Each week we receive truckloads of exciting returns and overstock items to bring our customers Krazy good deals! You never know what you might find, but we can't guarantee that we will always have the same products or retail items each week!
What are the 3 types of BINs? ›
General waste bin (green or grey) Recycling waste bin (blue) Food waste caddy (black)
“Bank Identification Number,” or BIN code, refers to the initial sequence of four to six numbers that appears on a credit card. The number is used to identify the card's issuing bank or other financial institution. The BIN number ties an issuer to all the cards it issues, and to all the transactions on those cards.
What is the purpose of the bin? ›
1. Purpose. /bin contains commands that may be used by both the system administrator and by users, but which are required when no other filesystems are mounted (e.g. in single user mode). It may also contain commands which are used indirectly by scripts.
Where should bins be stored? ›
Whenever possible wheelie bins should be kept in a secure position away from the property itself and out of immediate view. Where this is not possible, bins should be placed away from doors and windows; this will minimise the impact on your property should your bins be set alight.
What are the benefits of bin? ›
Waste bins are an essential part of any residential or commercial space. They help keep the environment clean and hygienic by collecting and storing waste. However, not all waste bins are created equal. There are several types of waste bins available, each with unique features and advantages.
What is stored in bin? ›
The usage of bin directory is which it contains many commands, scripts and more number of executable files and it is mainly for executing the above in order to accomplish a task.
What does bin mean when selling clothes? ›
07-07-2022 05:47 AM - edited 07-07-2022 05:49 AM. eBay sets the rules on BINs. You don't have the option to change them. On an auction format listing the BIN (Buy It Now button and option) goes away at some point as bids are received.
How do hotbins make money? ›
The store buys returned items from Kohls, Target and Amazon from third-party sellers and sells them out of bins for shoppers to sort through and score deals. The bins are filled with electronics, appliances and other merchandise on sale for $12 or less. Customer can test out the products before they buy them.
What does bin mean for resellers? ›
BIN stands for "Buy It Now," and it is used when sellers set a fixed price for their goods, bypassing the need for back-and-forth negotiations with customers. This method is widely used by online resellers looking to sell and make money with greater efficiency and predictability.
