Episode Transcript
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(00:00):
This will take place in Henraiko,so in Richmond, and I don't if
we've mentioned these stores before. Theydo not kind of ring familiar to me.
But Richmond is getting a where youBeen? Has that come up before?
Where you been? Where you been? W A g R E.
(00:23):
Where you been? I don't knowwhat that is? Yeah, okay,
good because I didn't want to feelstupid and be like we've already talked about
this and I have no memory ofit. So where You've been? It
is an Amazon reseller. Yeah,where every week there's a new truckload of
stuff and then they sell it.It's awesome. I think there's a couple
(00:47):
of them that already exist, Likethere's one in there's a couple in North
Carolina. I think there's one inCharleston, South Carolina. There is uh
you know it? No, no, no, I just I pulled up
their locations. They've got one andCharleston, Columbia, South Carolina. There's
one in Ohio. There's a Dublin, Ohio. Yes, thank you,
(01:07):
Matthews, North Carolina, Pensacola,North Campton, Ohio, Concord, North
Carolina. And McAllister, Oklahoma.Yeah. I don't know where any of
those plays are. It's a chainof stores that resells unwanted Amazon orders,
and they now have their sites onRichmond and like they talk about where it's
(01:29):
going to be and everything. Buthere's the deal. It's a relatively new
retailer that by shipments of customer returnsand overstocked products from online delivery from online
sellers every week and then uses thoseproducts to stock their locations each store.
(01:49):
Hey, Christian, will you dome a favor? Will you see if
you can find me anybody that's everheard of or been to any of these
where You bins? Please? Andhere it comes to the part I like,
are you ready? Oh, I'llgive the number eight sixty six to
Elliot eight six six two three fivefive four six eight. If anybody's ever
been to one of these where Youbins or knows about them, please eight
(02:13):
six six to Elliot eight six sixtwo three five five four six eight.
So here we go. You ready, Here comes the twist. Each store
has between one hundred and one hundredand twenty eight foot by four foot bins.
So like just these big bins,right, and there's a hunt.
Let's say there's one hundred and tenof them. Each bin could be filled
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with everything from electronics to small appliancesto close to beauty products. I mean
it could be anything that's inside thesebins. Right. All items start off
on Friday priced at fourteen dollars.Everything in there is priced at fourteen dollars,
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not fourteen below and like five below, like it's fourteen standard. All
items are given a price of fourteendollars on Friday, and then every day
the price per item falls until ithits twenty five cents the following Thursday.
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Oh my god. The pricing modelis intended to clear out the store's inventories
on a weekly schedule before the nextwave arrives, starting on Friday at fourteen
dollars. I bet this is youknow how like there's people and I'm not
saying this in a bad way.You know how there's people where it's like
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every weekend they go to like yardsales. Yeah, I bet this is
people's yard sales. Because if youstroll in there, you'll go in on
Friday and go do I want thatfor fourteen dollars. I don't know how
much it drops to get down totwenty five cents. Chance, though,
if you don't buy it at fourteen, it's gonna be gone. Yeah,
but maybe maybe I don't like itat fourteen. But let's see what it
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is on Sunday. It goes toten on Saturday. Does it realize seven
on Sunday? So it's half priceon Sunday. It's pretty quick forty eight
hours. Yeah, that it's twentyfive cents on Thursday. So it's it's
almost like they've gamified the overstock returnexperience. Yes, you, by the
(04:27):
way, you know what I wantto do. All I want to do
is give a order like five dollarson Thursday and say go, you were
a part of this world for adrawn out period of time and then it's
just turned out that the seller stoleyour money. But the difference is wait
for what your palette? Oh yeahyeah, but that was all mystery meat.
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I didn't know what was coming this. I know what I'm so you're
seeing, Yeah, these bins.You're not just picking out random boxes like
a porch pie. You do seethe product? You're telling me? Oh
yeah, no, you know exactlywhat it is. You know exactly what
What's the last thing you returned toAmazon? Diane? A shirt? Okay?
(05:13):
Can you give me something else.What's the second to last thing you
returned to Amazon? Jeans? Okay? So like, oh god, so
boring, but okay, So Iwould show up on Friday and go,
there's Diane's jeans for fourteen dollars.Don't know if I want it ten dollars
on Saturday. Seven on Sunday,I'll take those jeans. How much goddamn
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hiding? Is there a fox?Oh? I didn't even think of that.
You please do that fannies all thetime. I mean, I bet
it's out of control. I didn'teven think of that. So I find
myself a piece of electronics that Ithat I bought, and then you're gonna
go. I got over in thecorner and shut it down in the bottom.
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I got it hidden under the binof big fat bras. Maybe that's
the key, because you know youyou have a strategy. Once you are
in with a store like this,you have either addition, you've either read
about a strategy or you have yourown. And I bet it includes going
to the corners and digging deep.Yep. But doesn't everybody know that if
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we could sit in this room andfigure that out. So you throw me
off by leaving it right on topof the bin. No. No,
But also isn't it going to besomebody's job to make sure that doesn't happen?
Or is this profitable? Like isthis extremely profitable? Yes? Yes,
because all of that, what doyou do? Like I don't know
what they do with all the returnsanyway, but it just sits there,
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and it's just sitting and taking upspace, So just the rental space it
takes up. Listen, I getthat there are reasons stores like this and
sellers on different services do what theydo. But are we talking about razor
thin margins or are we talking aboutNo, we're talking gross margin like money,
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gross margins. Because somebody's going tobuy an electric toothbrush thing or twenty
five cents? No, I thinkthat you would. That's something you would
jump at at fourteen or ten orseven electric toothbrush. Yeah, okay,
but once once everybody has an electrictoothbrush, they're now worth twenty five cents.
But you also you're acting as ifthey're going to have dozens and dozens
(07:18):
of the same thing. They mayhave a been filled with overstock items,
but a lot is the returns andyou're not going to talk about you.
It's one of one, right,Diane's jeans. Yeah, and for fourteen
dollars. I'm assuming that's at leasta dollar less than they were. Yeah.
Can I ask you this, howmuch did you pay? Be honest?
How much you pay for the jeans? I think there were forty forty
(07:39):
dollars and I'm getting them for adollar. I'll buy forty at fourteen.
It's a bargain. Oh, Iwant shorts now, I'm in watch.
I'm a hoarder. No, Ithink this is this is genius. You
get back at the person that rippedyou off. You rip off where you've
been. I'll call it the uhbecause they're doing a play on words.
(08:01):
We'll call it the Pallette box.By the way, why wouldn't I just
go on Thursday, buy everything foreight dollars, put it in a Pallette,
sell it online for forty? Oh, like people do with goodwill.
That idea has been taken and peopleare aware that that happens. Hi Elliott
in the morning, Good morning.Hi. Who's this Billy Jean in Comumbus,
(08:24):
Ohio? Oh, Hi, BillyJean, how are you again?
I called Kristanley's been over to theDublin location. Oh so, so Dublin
is a is a is a likea suburb of So it's like when they
say we're going to Henriiko, everybodyknows they're going to Richmond. So if
somebody's going to right, condus isa big circle and you get your little
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towns in it. So Dublin's liketen minutes from me. But where you've
been it's in an old uh sears. They had seared appliances there, so
it's right next to Target to dimanother, but it's it's in the space
that's like kind of dark and itskind of ghetto. But you go in
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and it's like the trough bend andit just the crap is thrown in the
bins and honestly, some of ityou can't look at because it's boxed and
you have to take it over toanother worker and they'll open it for there.
You're not allowed to open the stuffin the bin. Wait, it's
inside the box that it was shippedin, right, So some of it
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is not opened. Some of itis opened and out of the box.
So like like there's fun to pops, Like, I think that's something we
bought there. Josh is on hisway. He wants to stay with you.
Be smart, say no. Butlike we seen Coast organ Bron's.
Oh also, my friends went therewas a day where like there were a
whole bunch of toys if you catchme, and so they had those in
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like a separate section because you don'twant the little kids to see the toy
heaven behind the curtain. Yeah,that can be there. I have friends
that have few timberlains and then theywould take those and resell those online.
Right, But I mean it's atotal it's a crapshoot. When it's a
crap shoot, I mean crap shootbecause it's it's like looking at a bin
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of nice trash and you pick outthe nice things you want and you could
get them if they're boxed. Yougot to take them to the employee who
can unbox it for you to seeif you want that tatom. So that's
kind of exciting. At first,I was like this sucks, but then
it's kind of like, ooh,I'll have this box open, maybe it's
what I want. That's almost kindof like kind of finding the Easter egg
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right right, So it's like yougo there at least once to check it
out and I've been there once.Now, my husband loved him. He's
awesome, got all the sports memorabilia, but he is a hoarder. He
wants to go there all the time. And I'm like, no, we're
gonna go buy Erys right right.So, but on the days where it's
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like the one snap man it's gonethrough and like there can be lynes out
the door on those days because that'sstays you want to buy it to go
resell it online. So if youcan find those timberlains and sell those for
that good price online. Have youever had the kids of making somebody?
Have you ever gone in on aThursday? Is it all just like like
half eaten sandwiches and diapers? Yeah, I mean it is. But like,
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if you have the time and wantto spend the time, you can
find that nice needle in a haystack. But like, and I think we
had a kid get ready for college, it might be worth it if you
have the time to go in andlook and see if you find some nice
fine for whatever. I'm going toget Jackie vibrators. Are you kidding me?
This is great? Yeah, thatcould be fun too. Hey,
(11:43):
By the way, I don't wantto be a downer. But how is
how is uh? How's the moodin Columbus. You guys had a rough
weekend? Yeah? Well, Iwatched the news just in the morning before
I turn you guys on. Sothere they got the one guy that was
driving the car. But for somereason they don't know the shoe so and
like the dude was driving the car, did he not know who he put
in the car? But I gotcha, And they did have the news about
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the guy a King's Island. ButI mean, seriously, my kid works.
I have two kids working at theColumbus Zoo and the rides and attractions
at the Music Day, and Imean it's scary because my kids work those
attractions right, and you know therewas a kid probably working that attraction sure
when this guy didn't listen to thekid, because we've had people not listen.
My kid works arride and people willnot listen to my kids because my
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kids are telling you, no,you can't do that. You need to
follow this rule. And the peopledon't listen to the kids telling you what
the bulls are. That's where Iall right, Very good, very good.
I appreciate it. Thank you,ma'am. Thank you I have.
Oh sorry, how about that?The first rule on their policy pages do
not open boxes? How do theypolice that? Doesn't it sound like me?
(12:54):
You're opening boxes? They kick youout when they open on Friday.
I don't know what they're at,but when they open on Friday, is
it a stampede? Like remember thosevideos of like when Target would open and
everybody was going in to get cards? Is that what this looks like.
You're not allowed a camp outside ofthe store, so the okay, Well,
I fell asleep in my car.The Friday line policy is that you
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stay in your car until thirty toforty five minutes before store opening. At
this time, customers will be givena number. This number represents a line.
Find that line that matches your number. At opening, a random number
will be drawn, and the numberdrawn is the first line allowed into the
store. Yes, yes, yes, I love this. I love this.
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After that, a second number isdrawn and that is the next line
in. It'll continue until there isno line. And I'm running through there.
I'm hiding all the electronics right underthe big fat bronze. Jonathan says,
there's a lot of junk. Well, I would assume, but they
got a whole bin of dildos.So it is still by the way,
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and that's the thing in renageous atthat for the boxes that are unopen,
that's a mystery. Yeah, it'snot like you get to bring it up.
No, that's what I'm saying.That's the needle, that's the that's
the that's the the that's the thethe what's the word I'm looking for?
I don't want to say the wrongwords. It's it's more like a treat.
It's because you don't know what itis. I could take it to
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the guy and go, hey,will you open this? He opens it
up for for seven dollars. Igot all that gold bull yon. But
there's no returns, no, rightyou? Oh and there's no cash.
Oh really no cash. Yeah.They want like credit, Apple pay,
credit debit, Apple pay or Googlepay. Hi Elliot in the morning,
(14:41):
Yeah, Hi, who's this?What's Brian from? Hey? What's going
on? Yeah? It is?It's America's most livable community. What can
I do for you? You knowwhat it is? You know it is?
They they got those stores all overthe place. We got one called
like discount deals. They get themnot just from Amazon, they get them
from like Target, Walmart, wholebunch of spot. I actually got a
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sweet ass excuse my language, anice smoker from their pit boss. How
much uh sixty bucks? Bro retailfor two twenty oh they see. But
here's the difference. I was gonnasay, you're not shopping at up where
you've been in Manassas. They don'thave a location there. But you're saying
there's other stores that are like this. But here's the big difference. If
somebody returns that great, big,that big green Egg to where you've been,
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I get it for fourteen dollars.I'm not paying sixty. Now that
being said, I'd love to geta smoker for sixty dollars. However,
that's not the beauty of where you'vebeen. No, it's not. I've
been in there a couple of timesand walked out with nothing. It's literally
a crapshoot. Every time you goin there, you don't know what you're
gonna get. Literally, So isthat why, Hey, thank you sir?
(15:48):
Is that why? Like somebody elsecalled it was like, you know
they have this in Woodbridge but theydon't, but it must be like kind
of a similar snure. Yeah,daily changing price establishment I'm loyal to where
you been. There is another ruleOh yes, oh no fighting. Well
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it's along those lines, by theway, is it? Is it inside?
And I hate to say this becausethey were great and I'd fly them
again in a second, but don'tdo it is don't do it? Say
say frontier okay, allegiant okay?Is where you've been the allegiant of shopping?
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Yes, And this is the firstI've ever heard of it, because
again, under all those line numberpolicies, there's kids screaming, there's piss
on the floor, do not openboxes, which I can understand. Right.
There is also a section called don'tbe a jerk, and the rule
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says no name calling. Let goof it, mother ever, and keep
your hands to your god damn self. Line four. Hi elliot in the
morning, Hey, elliot, Hey, who's this? This is John's Charlotte,
(17:15):
North Carolina. Hey, what's goingon? Dude? Have you been
one of the locations in North Carolina? Yeah, Matthews is just outside of
Charlotte, and I've been to thatlocation a couple of times. And the
collar, the collar, A coupleof callers ago was exactly right. It's
it's a lot of new trash thatyou don't need, right, Yeah,
but you know what, But that, by the way, is it is
(17:37):
it like it's the same mentality asplaying the lottery. I know, well,
except I'm not going to get abillion dollars. I know I'm not
gonna win. But what if?I don't know that the I don't know
that there is much of a whatif out there. You know, I
don't think that they are getting hotticket items. The couple. I bought
a clip on desk lamp and apair of pickleball paddles, and it felt
(18:03):
like that was a wind coming outof there. But yeah, but how
much did you pay? How muchdid you pay for the pickleball paddle?
Which day was it? It wasa link day, so they were cheap.
Wednesday they were fifty Yeah, ohmy god, it's a less than
a dollar. Oh my god.But had you gone on had you gone
on Friday, it probably would havebeen uber paid. It was a dollar.
(18:23):
Wednesday is a dollar? Who cares? No? But but but Friday,
no, and I got lucky.But on Friday, you know,
if I had walked out with afourteen dollars clip on lamp not knowing what
necessarily what was in the box thatwould have felt like a loser. Yeah,
well, don't buy on Friday.That's my policy. Right, It's
(18:48):
definitely termit. It's a cool idea, definitely worth checking out. But you
know you're not going to walk outof there, you know, coming out
on the on the I'm the winningside of that does this. So this
is this makes like this like,what's a what's a real fancy what's a
real fancy department store? Like Nordstrom, Bloomingdale's. So where you been makes
(19:14):
Walmart, it makes raw, itmakes Roth look high end. Don't be
a jerk. That was the policy. And look I like raw. It's
just you know, it's you know, there's big industrial rolling trash can.
It's just a bunch of those filledup with by the way, there's a
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whole bit around the corner with dildo'sin it. What more do you want?
Like can you get? Like likelike like it's everything I do.
I don't know why I'm trying togo through my head and go like could
you find can you find shorts?Can you find shoes? The answer is
yes, you can find it all. Question right, maybe not this week,
(19:59):
which is I gotta go back nextweek, and you know I only
shop on Wednesday or Thursday, nothingmore than a dollar. You know,
a lot of Christmas items if yougo towards you know, I think I
went early February. A lot ofChristmas decoration returns. So you know,
there's definitely some good, cool thingsin there. But you know you're probably
(20:21):
not going to go in there needingan item and expecting it, expecting to
find it there you talk a tonof crap, dude, Oh it makes
Ross look great. You know there'sgarbage in there. You're buying Christmas,
you're buying paddles. You spend alot of time in there, sir,
I do you know. I'm thefirst one to basket, but I'm the
(20:41):
first one to walk out of there, you know, with one hundred dollars spent