"As is" can be many things. Sometimes it is something the host or models wore; sometimes it can be an item that was on display. For instance, clothes on a rack that the host goes thru to show the different colors; that would be an "as is" sale.
I have received many "as is" items that look brand new to me, which leads me to believe that my experience has been with presentation items that were for show only or maybe worn once by the model.
Every single "as is" I have received was included in it original packaging, free of any "used" look to them, and in some cases I know they weren't even touched. One of the items I ordered "as is" was a suitcase with five items inside. Each of those items inside were still tightly sealed individually that made it clear they were not opened and resealed. The main suitcase must have been one that was on display, but the inside items didn't need to be seen; probably used to show a different color.
I believe items that have been returned are "as is." I have received shoes that didn't fit, so I sent them back for an exchange. That would be considered "as is" even though there was no wear and tear on them. I knew the minute I put them on that they would hurt my feet and I put them back in the box and sent returned them.
Other people have said they have had "as is" that were dirty, torn, smelled, etc. That has not been my experience.
I normally save 50% on "as is" items.
You still have the same return policy (30 days) for any "as is" items, so there is no problem if you don't like the way the item looks when you get it. You may return it.
Each of the "as is" item I have received had a tag on it saying it was "as is," and then explaining how it may have been used prior to it getting to me (host/model used it, displayed during a presentation, etc.).