NAICS Code 561990-14 - Liquidators

Marketing Level - NAICS 8-Digit

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NAICS CODE 561990-14
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NAICS Code 561990-14 Description (8-Digit)

Liquidators are companies that specialize in the sale of merchandise or assets that are no longer needed by a business or individual. This can include a wide range of items such as furniture, electronics, vehicles, and even entire businesses. The primary goal of a liquidator is to sell these items quickly and efficiently in order to maximize the return for the seller.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 561990 page

Tools

Tools commonly used in the Liquidators industry for day-to-day tasks and operations.

  • Auction software
  • Inventory management software
  • Point of sale systems
  • Pallet jacks
  • Dollies
  • Hand trucks
  • Box cutters
  • Pricing guns
  • Cash registers
  • Barcode scanners

Industry Examples of Liquidators

Common products and services typical of NAICS Code 561990-14, illustrating the main business activities and contributions to the market.

  • Office furniture liquidation
  • Electronics liquidation
  • Vehicle liquidation
  • Business liquidation
  • Estate liquidation
  • Retail store liquidation
  • Restaurant equipment liquidation
  • Wholesale liquidation
  • Bankruptcy liquidation
  • Government surplus liquidation

History

A concise historical narrative of NAICS Code 561990-14 covering global milestones and recent developments within the United States.

  • The liquidation industry has been around for centuries, with the first recorded instances of liquidation sales dating back to the 18th century. However, it wasn't until the 20th century that the industry began to take shape in its modern form. In the United States, the industry really took off in the 1920s, when the country experienced a wave of bankruptcies and liquidations due to the Great Depression. Since then, the industry has continued to grow and evolve, with the rise of e-commerce and online marketplaces providing new opportunities for liquidators to reach customers. Recent history of the liquidation industry in the United States has been marked by a number of notable developments. One of the biggest trends in recent years has been the rise of online liquidation marketplaces, which have made it easier than ever for businesses to sell off excess inventory. Another key development has been the increasing popularity of "reverse logistics" services, which help retailers manage the returns process and dispose of returned merchandise. Additionally, the COVID-19 pandemic has had a significant impact on the industry, with many retailers turning to liquidators to help them manage excess inventory as consumer demand has shifted.