CHICAGO — May 10, 2022 — The Bazaar, Inc. announced that it has named Doug Wurl as president to support continued growth and guide the strategic direction for the industry-leading marketplace in the discount liquidation, reverse logistics and deal space.
Wurl brings an impressive and varied tenure that spans four decades working across the consumer merchandise space. He will lead beside Brad Nardick, who is the third-generation CEO at the 62-year-old family business that buys, sells, and distributes millions of pieces of brand name merchandise from its 400,000 sq ft warehouse, physical locations, online and discount retail stores called Bargains in a Box.
“We are excited to welcome an executive of not only this caliber but a true merchant who embodies our vision for relentless pursuit of value creation for retail and wholesale customers, who in the evolving landscape continue to see The Bazaar as an invaluable and trusted resource,” said Nardick.
The executive appointment takes place amid widespread inventory, supply and logistics challenges that are rising in complexity for retailers and consumer goods manufactures, who today place heavy emphasis on the value of wholesale closeout services and reverse logistics to both acquire and divest merchandise or process returns. In fact, the liquidation market has more than doubled in size — growing from a USD $309 billion industry in 2008 to more than $644 billon in 20201 —consistently propelled by inevitable misorders of inventory and miscalculations in production, and a more recent but rapid increase in product return volume. Last year, the National Retail Federation tracked a record USD $761 billion2 of merchandise that was returned to retailers, many who experience processing costs of up to 66% of an item’s original price.
“Evolving consumer shopping behavior, macro and sector trends that accelerated during the pandemic will not be easy to navigate in an increasingly competitive consumer products marketplace and growing circular economy,” Nardick added. “Doug brings unrivalled experience that will help us continue to innovate alongside such challenges, while embracing the fact that personal relationships have and always will be the foundation for success.”
Prior to joining The Bazaar, Wurl was president at LTD Commodities, which he grew into one of the country's premier catalog and online merchandisers. His career also includes top positions with many of the nation’s leading retail companies, leading initiatives that integrated merchandising, marketing, store operations and global sourcing across channels, department stores, and mass, specialty, and ecommerce platforms. Among notable roles, he has served as president and CEO for DRS Product Returns, Golf Galaxy, LLC and senior vice president at DICK'S Sporting Goods. Wurl was also the head of merchandising and oversaw global sourcing at Big Lots, after serving similar roles at Sears Holding and Shopko. He began his career in consumer merchandise in the early 1980s with Macy’s at Rich's Department Store and Federated Department Stores, where he led buying and product development roles for nearly 20 years. His position as president at The Bazaar, Inc. is effective immediately.
For more information, please visit www.TheBazaarInc.com/.
About The Bazaar, Inc.
The Bazaar is the leader in buying and distributing brand name wholesale merchandise closeouts. We buy, sell and ship millions of pieces of merchandise every year, as the preferred liquidation partner to the worlds most recognized household names. Since 1960, big-box retailers and major multinational brands have trusted us to acquire their overstock and returns, turning excess or out-of-date inventory and cancelled orders into cash flow. This allows us to provide our independent retail and ecommerce clients with name brand consumer goods at below market cost, helping them differentiate themselves in competitive retail environments. The Bazaar is a third-generation family business that embraces a ‘People-First’ mentality to create meaningful connections with our team members, clients, and customers that drives value beyond the transaction. Its Inclusion Program is a celebrated pillar of the company culture, earning numerous awards and recognition — including Most Innovative Business for Inclusive Hiring in 2021 by the Illinois Department of Human Services— for contributions in supporting people with disabilities.
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1. Colorado State University, College of Business Supply Chain Management Data, 2020
2. National Retail Federation, Consumer Returns in the Retail Industry, 2021