Health and Fitness

Wholesale Makeup and Reference Guide

This article is a guide to understanding some of the terms that are regularly used in wholesale, but especially when dealing with liquidation makeup and wholesale products. Many of these terms are used regularly when we work with ourselves. We have therefore decided to create these terms in order to provide clarity for everyone who is not familiar with the terms.

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Overstock – Overstock simply refers to more supply than demand. Companies end up with excess inventory because they ordered more than they needed, received more than expected, produced more than needed, and many other examples.

Shelf pulls – This term directly indicates how the product was liquidated. A shelf pull means exactly that the item was for sale on a retailer’s shelf and because it wasn’t sold it had to be pulled off the shelf. The fact that the item wasn’t sold has nothing to do with the item. For example, the seasons could change or a special promotion could not go as planned. Often times, the real reason is that retailers don’t want to spoil the image of their business by having to offer huge discounts on a regular basis. The shelf pull liquidation inventory often shows signs of wear and tear during handling and often has retail labels.

Retail Stickers – Stickers that are placed on products during the merchandising process to prepare them for sale in stores. Some examples are price tags, discount stickers, and even safety stickers.

Liquidation – Liquidation is simply the conversion of an asset into cash, that is, the sale of a product regardless of the impact on profitability, since the need for cash is greater than the need for the product or profit. The liquidation inventory can be overstocked by a dealer and everything is in perfect condition, or the liquidation can also refer to shelf prints from large retailers at the end of the season. This term is not an indication of the condition, although shelf pulls are the most common style elements you’ll find in liquidation.

Short Term – Although the exact time span varies from industry to industry, short term simply means an item that is about to expire. In general, this can be anywhere from 2 to 6 months from the expiration date. We consider a product short-term once it is within 3 months of its expiration.

Master Case – Part of the manufacturing process is the final packaging of the products for delivery to their distribution networks. Manufacturers use Master Sleeves as the largest carton size they will use. For example, most L’Oreal and Maybelline products have a master case of 72 units

Inner Packaging – A main packaging contains smaller boxes that contain a certain amount of the product. These smaller boxes within the master enclosure are the “inner packs”. For example, Maybelline Volume ‘Express The colossal mascara comes in packs of 6. Each master case contains 12 inner packaging’s that make up the master case with 72 units. Inner packaging is used to keep the product safe during shipping.

Factory – This term directly indicates the condition of a product. Factory packed refers to items that have gone through the liquidation process but, in their original cases, remained as they were when they left the factory. Factory inventory is usually in perfect condition.

Carton pack – Refers to the amount in a carton. This can either refer to the master case, the inner packaging or some other multiple in which the product is stored. For example, the L’Oreal Revitalift skin care lines come in packs of 24 units, while our mixed makeup lots come in a pack of 100 units.

Incoterms – an international standard that is accepted and used worldwide. Its purpose is to very explicitly define the responsibilities of the seller and the buyer in a transaction. They are very useful for quickly determining what tasks to perform for each transaction.

FOB – stands for Free on Board and indicates which of the two parties (buyer or seller) is liable for goods that are damaged in transit. USA Wholesale operates exclusively on the terms of FOB Origin. This means that the buyer officially takes ownership and is liable for the goods from the moment they leave our factory.

Ex Works (EXW) – a term used in international trade to indicate that the buyer pays the cost of shipping the product from the pick-up point to the destination as soon as the seller makes the goods available to the buyer at a specific location. The buyer is also responsible for loading the goods, transferring them to a ship or aircraft if necessary and, above all, complying with customs regulations. USA Wholesale works exclusively under the Incoterm Ex Works (EXW).

Batch Code – Typically an alphanumeric unique code created by the manufacturer to identify the “batch” the item was manufactured in or the place and time it was manufactured. Batch codes indicate no expiration.

MSRP – Manufacturer Recommended Retail Price When manufacturers bring products to market and work with dealers and retailers, they must provide a suggested retail price. This value is useful for consumers when comparing prices between retailers, as well as in other scenarios.

MAP – Minimum Advertised Pricing, another value that manufacturers and distributors make available to retailers. This value maintains market prices and prevents retailers from strictly competing with one another based on selling price, which ultimately helps maintain brand value.

UPC – Universal Product Code, a barcode system widely used in many countries around the world, which is used as a unique identifier for products.

SKU – Stock Keeping Unit, a unique number created for internal tracking and management of products or services.

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