SUN PRAIRIE, Wis. — After hitching a U-Haul trailer to a beautiful white Porsche, 19-year-old Levi Hanson prepared to bring in a bunch of new, never-used items into his bustling Sun Prairie store. 

“I treat it like an old 1999 Honda Civic,” laughed Hanson.

What You Need To Know

  • Local entrepreneur Levi Hanson is reshaping retail with iBin, a venture that turns discarded items into treasures through a unique pricing strategy
  • Hanson said items are put into bins and thorughout the week, as merchasdise remains, the prices drop
  • Keyawn Davis, a first-time customer, shared his surprise at finding brand new items and scoring deals at iBin
  • Hanson's vision goes beyond profits, with iBin actively contributing to the community by partnering with Mission Nutrition to combat food insecurity. 

Hanson created iBin six months ago. He already has four brick and mortar iBin store locations. Three of them are in the Madison metro area.

What is iBin? Hanson buys liquidated or wholesale discounted retail items and resells them for profit. 

“You get merchandise from Amazon, Costco, Walmart, Target, Sam’s Club on bulk returns, box damage, overstock SKU’s they made too much of,” said Hanson. “It’s like an Easter egg hunt. You never know what you’re going to find. You might find linens, you might find a video game. You never know.”

Hanson said he’s proud of not only the wide assortment of products iBin carries, but also the unique pricing strategy.

“We throw it all in the bins on Thursday. Every item starts at $12. The price works its way down throughout the week. By the end of the week, everything in the bin is a steal at three bucks.” 

Bin stores like this are popping up all over the country. This new approach to shopping has captivated customers and challenged traditional retail norms. 

First-time iBin customer, Keyawn Davis, was delighted to rummage through bins of the overstock or returned items. He couldn’t believe the cheap prices.  

“Never been a Goodwill guy, but I understand it,” said Davis. “This is all new product. I came in here with the thought of just looking around, not knowing that I can actually get everything I could possibly want here!”  

Davis left the store with an impressive haul totaling $600. It included new clothes, vitamins and high-end items like a business security system and a brand new 55-inch Samsung TV.

Besides offering great deals, Hanson said iBin’s business model is committed to community welfare. For that reason, he partnered with Mission Nutrition to combat food insecurity. For every three non-perishable food items a customer brings into the store this holiday season, they’ll receive a free bin item.

Hanson has high hopes to expand iBin to 100 plus locations.

“And from 100, let’s grow to 1,000,” he said.