Hello all. I’m currently listing items at the moment. I’ve made some changed to the way I do business and I already notice a difference. I’m so glad I did this. I’m able to deposit money back in to the savings. It’s the money I spent on inventory for February. I recently started finding other clothing resellers like me who are doing exceptionally well. I watch their youtube videos, and even peek at their store. I also gain a better perspective on how I should do business. Here are some changed I made.
1). Price my items lower.
I think back then I said I want my items to sell for $20.00 to make it worth my time. Well because of this I had so much dead inventory laying in my eBay room. So I priced my items lower and lowered my expectations to expect at least $10 for items.
2). List faster, Less Research.
Since I am pricing items lower, I decided I need to do less research on brands. Only quick searches for brands I’m familiar now. I am also listing faster. Instead of doing 6 items an hours, I am now doing 10-12 items an hour. Since I’m becoming better at sought after brands, I can get a feel on what will sell.
3). Do a clean out of Dead Inventory every other month.
It’s hard to donate things that don’t sell. It’s like admitting defeat. Though I look at $200 worth of donations as a $200 education. Don’t buy what I am donating. Plus it is going somewhere that can make money of it. I currently have bags of clothing ready to be donated. Most of them dead inventory, some of them clothing I came home with damages.
4). Added Best Offer.
I added Best Offer to all of my listings. I hated best offers before because people would always give me crappy offerings but I don’t even have to respond to them. Actually I love it when they make a best offer. It shows other people who are interested in it that someone else wants to buy it too. I let best offer sit around for at least a day or until it expires but I have noticed that I have more sales. Here’s a tip: I usually counter offer $1.00. I notice if I accept a best offer too quickly they take forever to pay. Sometimes they don’t even pay. By counter offering, they tend to accept it ( $1.00 isn’t that much for a counter offer) faster and my item is still open to sell to someone who will pay quicker.
For March I didn’t ramp up my thrifting and listing until the last week and I easily sold $1500.00 (This included shipping). Let’s hope April will be better loves. We can sure use a new used car.