Ghost appears with new funding, marketplace to match buyers with unsold products
The process for retailers and brands to liquidate excess inventory hasn’t changed very much, if at all, and while some retailers were able to build operational infrastructure to service the off-price channels, it continues to be a constant pain point.
Brands overproduce more than $500 billion of goods annually, and all of that excess inventory leads to retailers needing to do markdowns, which is what we recently saw both Walmart and Target have to do.
Ghost is coming out of stealth Tuesday with its approach to excess inventory with a marketplace approach that enables brands and retailers to buy, sell and price that inventory in a discreet, efficient and sustainable way. It also handles the back end as well by automating the posting, sale and shipment of unsold inventory while offering immediate payment to creditworthy sellers. Read more at TechCrunch.
