[Krazy Binz] Online returns find second life at 'real-life treasure hunt' business

I like this model, it's very interesting. Too bad there isn't a store in the GTA

The issue is that all the "risk" is on the consumer, to essentially buy an item in a box with no returns. Not sure if they let you open the item or let you try it anywhere but it's pretty hard to tell if you've got a dud or not just by the box lol

Very interesting concept, I could see myself stopping by almost daily just for the mystery of what came in.

Smart way to offset the risk of picking up liquidation lots. Keep the best ones and send the useless ones to a store like this

kramer1 wrote: ↑Keep the best ones and send the useless ones to a store like this

That's what concerns me. Amazon for instance has their own Warehouse Store. Presumably that's where the "best" returns go. That suggests that what ends up at liquidation stores is damaged, missing parts, not working properly, has been returned after being sold at the Warehouse store, etc.

DaVibe wrote: ↑Not sure if they let you open the item or let you try it anywhere but it's pretty hard to tell if you've got a dud or not just by the box lol

Read the article and website. You can't open boxes. They have staffers who will do that for you but there are limits.

Basically it's a lottery, "ya pays yer money and ya takes yer chances." The gambling element draws people in. Then the "success stories" when someone scoops a $1,000 notebook for $25 creates a sense of excitement. And like lottery tickets, the cost of a chance, $25 to $1, is small enough that people can buy multiple tickets without breaking the bank. [How long before Gamblers Anonymous allows Krazy Binz Junkies™ to join?]

Now that we are living with covid and stores are open, any updates and opinions on KB?

The people behind KB opened their first store in my town (before it was known as KB). The business model was different back then: they basically had the same set up as Treasure Hunt albeit in a tiny warehouse space.

We hit real jackpots back then...until they started to rebrand as KB (elsewhere) and followed what the business model is now. It was chaos at first but also it wasnt something I was willing to line up for (you had to get a number and a time slot, you can pretty much tell where this would fail). Lots complained and they eventually relocated the warehouse at a nearby city.

It was good while it last imo. I personally dislike the "hunting" model. I go to a store knowing what I need, not buy stuff just because it's cheap.

There's one open in a temporary spot in Winnipeg now but they've apparently got their eyes set on an old Staples in close proximity to Polo Park. I also think the concept is alright, three quarters of the work of having to bring whatever you buy off of Liquidation.com up is already done for you. Haven't been to it yet but as it is right now from what I've seen there is way too much hype behind it for it to be a worthwhile risk right now. Once the parents finally get forced to drag their kids back into school it should die off a bit but even then I'd probably give it another few months until they've moved and unless I have a real reason to go back out west.

I got shown a thing of their house rules banner and I couldn't help but laugh that they had to put "no running/pushing/shoving/sitting" on there. People these days.

ConnorsCompShow wrote: ↑ I got shown a thing of their house rules banner and I couldn't help but laugh that they had to put "no running/pushing/shoving/sitting" on there. People these days.

This is what turned me off when they changed their business model to the rat race/scavenger hunt model. They do that on purpose and honestly it's LOWEST point of humanity.

Ah, the good old days. Theres still some liquidation outlets but none gave me the same steals as we got before.

Ive been once on $10- day. the only thing i saw worth more than $10- was a wieghted blanket, which i passed on b/c i didnt want to carry it around...i had errands to run.

also went to loco binz (similar) but looked really dirty & some womans 3 kids were running hella crazy all over the dam store. wont be going back.

What's their price look like? More like winners or value village?

smartie wrote: ↑ What's their price look like? More like winners or value village?

it's a declining price model based on what day of the week you go...

everything is the same price for that day

cycle starts on a Thursday $25
and declines each day... by Wednesday, $1

rinse and repeat....

ammaretto wrote: ↑ Ive been once on $10- day. the only thing i saw worth more than $10- was a wieghted blanket, which i passed on b/c i didnt want to carry it around...i had errands to run.

also went to loco binz (similar) but looked really dirty & some womans 3 kids were running hella crazy all over the dam store. wont be going back.

many items are worth more than $10... just a matter of "do you really want it" and how much effort will you put to go through the dumpster bins...lol

Ducky wrote: ↑ many items are worth more than $10... just a matter of "do you really want it" and how much effort will you put to go through the dumpster bins...lol

You're also gambling that stuff works 100%. There's plenty of wish quality of stuff mixed in there, low quality copies and fakes, along with mislabeled returns.
There's definitely deals to be had, but you really gotta know your prices and test stuff whenever possible.

I've been to a local KB a few times. Picked up some good finds (five bags of Starbucks coffee for $10), $10 soft pet crate, $10 pack of pliers, $25 white noise machine, $25 small rig for a camera, $3 oddball cables, $10 blackout curtains and a few other odds and ends. Best deal I came across was a digital microscope (national geographic), that was listed for $110 but could've bought it for $25. I ended passing it to someone else but there are sweet deals to be found. Just gotta take your time, be patient and read the small print on the labels.

Make sure you get someone to help you open the box and check inside before buying. I remember seeing some nice brand name LED bulbs on a $10 day. So I opened them in front of a KB employee and found out they were empty. Lots of people like to open stuff and leave a mess by just throwing the open package back in the bin.

Ottomaddox wrote: ↑ You're also gambling that stuff works 100%. There's plenty of wish quality of stuff mixed in there, low quality copies and fakes, along with mislabeled returns.
There's definitely deals to be had, but you really gotta know your prices and test stuff whenever possible.

there's a section that you can test electronics if desired