What is the difference between Closeouts & Overstocks?
If a company buys a product in higher quantities than the company can sell within a given period of time, it must sell off the excess product. The excess product is often referred to as overstocks. The method often used to sell off the overstocks is a closeout sale. Closeouts are the items to be sold using the closeout sale method. If items are referred to as closeouts in a liquidation sale, they are commonly new items in first-quality condition or maybe just a little “shelf-worn.
