So you have tons of clothes with nowhere to go. If this is you, then you also have tons of clothes that haven’t been worn, fit badly or currently out of style.
With the shift in consumer behavior, more shoppers are shopping online and at 2nd hand stores. This is why stores like BEBE and Macys are closing their Brick and Mortar stores, and TJMaxx and Marshalls are growing at a rapid pace. Mix that in with other marketplaces such as eBay, Amazon, and Poshmark, consumers now have another avenue to shop for clothes: Thrift Store and Reselling Platforms
As someone who’s been reselling periodically since 2013 and taken it more seriously since 2016, below are 5 tips to jump-start your reselling business.
- Source or select items from your own closet/inventory- For starters, sourcing means to get merchandise. If you are just starting out, this is an opportunity to test the waters and figure out whether or not you like the idea of reselling. It takes time and resources to resell, so you need to make sure your cost is low and the ROI is high. You want to start with 15- 30 items to list. The reason for this is you need to give your customers a variety of things to shop for. Give yourself a 90-day time frame and realistic sale goal to reach. Once you hit that deadline, you can make a better decision as to whether reselling is for you.
- Sign up for a reselling platform that works for you- Many reselling platforms serve different markets and groups. Many sites charge a 10-20% reselling per item sold. If you are doing this for the first time, focus on one site so that you can get the hang of reselling and build a clientele. Poshmark is a great reselling platform for new resellers.
- Take clear photos and include accurate product descriptions- I take all of my photos with my iPhone, in natural light. I also include accurate product descriptions, including approximate measurements, material, and condition. Having great photos and an accurate description will boost sales and avoid the negative feedback they might leave you if you sold them a bad item.
- Don’t be greedy with your reselling prices- Everyone knows what the cost of an item is- all you need to do is Google it. Sometimes you are going to get 2 or 3 times more than what you paid for. Other times it will be less than 1/2 of what you paid for. I have a strategy at pricing out my items and you will be surprised because it’s less about the actual cost of the item and more about the monthly sales goal I need to achieve.
- When you get a sale ship your item(s) out ASAP- I have a motto, shop today, ship tomorrow. Unless it’s a Saturday evening, Sunday or even a federal holiday, I make daily trips to the post office. Sometime twice a day (AM and PM) because the buyer needs their merchandise and I need to get paid. In a time when we are competing with Amazon’s Prime 2- day shipping, it is essential that buyer gets their order ASAP.
Hope these tips help you decide on the world of reselling. If you’re ready to start reselling online, check out the platforms below. They are user-friendly and very intuitive. If you sign up, use the codes next to the reselling site to get a store credit to use on the platform.
Poshmark- Sign up with code GHOJ to save $5: https://bnc.lt/focc/V4xJsM1SsH
Mercari- Use my code CFGVHM to sign up- https://www.mercari.com/u/168224292
Thanks for reading!