Wholesale glossary

Closeout — goods a company is discontinuing or clearing, sold below normal wholesale.

Overstock — new inventory in excess of what a company can sell through its normal channels.

Shelf pull — new goods removed from store shelves during resets or season changes.

Customer returns — goods returned by end customers; condition varies.

Salvage — damaged goods or goods from insurance and freight claims.

Manifest — the list of items in a lot: SKU, UPC, description, quantity, retail value, condition.

Lot / load — the unit being sold: a case, a pallet, a truckload or a container.

Truckload (FTL) — usually 22–26 standard pallets. LTL — less than truckload.

Container — 20ft (≈10 pallets) or 40ft/40HC (≈20–24 pallets).

% of retail — price as a share of the total original retail value. A $5,000 lot with $50,000 retail is 10% of retail.

MSRP — manufacturer's suggested retail price.

Blind lot — a lot whose brand or source is hidden until the buyer is approved for it.

Channel restriction — a seller's rule on where goods may be resold (no online, export only, outside a country).

Incoterm — standard rule for where the seller's responsibility ends. See Shipping terms.

Inspection window — the days after receipt during which the buyer can raise a claim.

Non-circumvention — the agreement not to bypass the marketplace to deal directly.