As I talk about in this post, there is a lot of power in re-selling. Especially now when people are looking to get high-value items at bargain price points! Enter the world of re-selling where there is no one right strategy but many ways to be successful. The below tips for re-sellers are things I have learned along the way either from experience or from the re-selling community.
Tip #1: Brands
There are thousands of brands, designers, labels, and such out there. So how do you know what to sell? There are brands that are traditionally doing well on each platform as well as brands that bring more attention to your closet. These include currently trending designers, high-value items, and hard to find labels.
But more importantly, you need to analyze what is selling in your own closet. What items tend to move more quickly. Which ones sell for full price versus needing many offers to likers? Take time to look at your own inventory and the trends you are seeing there. Additionally, another way to see what is selling is to check the “just in” items and filter them to “sold” so you can see what is selling quickly. Of course, there is no wrong brands to sell. Because what may work for me, may not work for you which is what makes the re-selling platforms so great for all of us!
Tip #2: Packaging
Opinions on packaging varies amongst re-sellers. What I have experienced is that buyers love little touches to packaging and as do I as a buyer as well. I think that a little extra packaging to show you care how your item arrives at the buyer’s doorstep goes a long way. This does not have to be expensive or time-consuming. Simply wrapping your item in tissue paper and tying with string or ribbon goes a long way. I am a fan of a thank you note and/or sticker but we will cover that in another tip. To sum it up, go the little extra and make your packaging more personal. Your buyers will appreciate it.
Tip #3: Offers to Likers (OTLs)
Offers to likers should be a big part of your strategy. This is a great way to show your buyers that you are willing to make them a great deal. In my experience, many of my sales come from OTLs. As a buyer, I am more often to purchase when sent a good offer. We all like a good deal and seeing something you like go on sale is a great incentive to click that coveted “buy” button. The other thing that OTLs tends to do is inspire buyers to make another offer than you can either accept or counter.
Tip #4: Shipping Time
Shipping time is important for many reasons. It is important to both the buyer and the seller and is something that should be a strong part of your re-selling strategy. Do you have to ship the same day? Not necessarily as you need to find what works for you. Maybe you don’t live close to the post office and choose to use porch package pickup. Or maybe you make a trip to a drop off box every few days after multiple sales. Poshmark specifically suggests shipping within 3 days and tracks each seller’s average ship time. My advice: look into the various shipping options (drop off, porch pickup, post office run, etc.) and find what is most efficient and timely for your re-selling business.
Tip #5: NWT Acronym
A huge part of re-selling is learning the lingo. Though not extremely difficult, there are still a lot of acronyms to learn to use. Let’s start with NWT which stands for New With Tags. NWT means that your item still has it’s original tags attached. Using this in your listings alerts buyers that your item is brand new and should only be used when items are and include the tags. When you have a NWT item, be sure to include this in your title, description and click “yes” to this so it populates on your listing for buyers to clearly see.
Tip #6: Re-listing
Re-listing is a hot topic especially right now. For sellers on Poshmark, the new copy feature is making re-listing super easy. I speak from experience when I say that re-selling should be a huge part of your strategy. Re-listing on a daily and weekly basis can bring increased traffic and sales. What re-listing does is push your listing to the top of the section for that brand as well as to the “just-in” section of the platform. This can cause the item to gain more interest as well as bring buyers to your closet. Many re-sellers, myself included are seeing the value in an increased re-listing strategy that is bringing more and more sales.
Tip #7: The Counteroffer
Counteroffers are often a game of chance. As much as we as re-sellers love to see an offer come in, we can also be filled with dread to find out it is a low-ball offer. Some will tell you to always counteroffer to get the most you can out of the sale. Others will say accept all offers and move your inventory. As like most strategies, there is no wrong way to do it.
However, here is my advice. First, know what you paid for the item, what it is worth, and what it is selling for. Then assess the amount you would like to make from the item and determine whether countering for a few extra dollars will really make or break the sale. Often times, if the offer is only a few dollars short of the price you want to sell for, it is not worth risking the loss of the entire sale for only a few bucks. Only you can determine this based on your COG, ASP, and stats. The more about know about your own numbers, the better off you will be to deal with counteroffers.
Tip #8: Free Shipping Supplies
When it comes to free shipping supplies, the United States Postal Service is your BFF. In case you didn’t know, you can order a plethora of free shipping supplies from the post office! Some of these can be picked up in-store while there is even more variety online here. These supplies range from the various sizes of boxes to the regular envelopes, padded envelopes (my favorite), printing labels, and more! Word is you can even call USPS and order packing tape for free! Perks of utilizing these supplies include that they are FREE, are easily shipped to your door or picked up in person and that they work perfectly for shipping your sales. Of course, they are not as pretty or cute as some of the paid mailers you can buy but did I mention they are FREE?
Tip #9: Measurements
In my opinion and experience, providing measurements in listings is important. This is especially important for certain items such as dresses and jeans. I have found that my listings that include appropriate measurements sell better than items that do not include them. You of course will have some buyers that will ask about measurements if something does not have it but think about the interested buyers that you lost because you didn’t include a few rather simple measurements.
As mentioned, not every item needs every single little measurement taken but I would suggest including measurements for chest, waist, and overall length for dresses and waist, length, and inseam for jeans. The more, the better but at least start here and see how that helps your listings move. As always, do what works for your business but measurements come highly recommended.