Do you have an online store that you like to use for reselling? Perhaps you have an eBay or Amazon account, or maybe even a whole site of your own. Either way, after some time, you start to see what items are best to keep around, (and to continue sourcing), and what items are best left as one-offs to never return.
- Related: How to Start Selling on eBay
Today I’d like to dive a little more into why I’ve been phasing out some items in my reselling store. Thanks as always for following along in my journey! I’d like to take this time to welcome our newest subscribers and send a big thank you for becoming a part of the Rooted in Reselling community! I’m hopeful this content provides useful and entertaining information for you all, and am always up for hearing about your journey as well. Thanks and happy Monday!
Entering the Stage of Phasing Out
The time has finally come where I’m doing my best to phase out the items that I no longer desire having in my online store. Why? I’ve got a few simple reasons.
- Less profit margins
- More items with flaws
- Lower quality pieces
- Less bundles (without Poshmark)
- More returns
So, let’s go over these in a bit more detail, shall we?
Low-end items are absolutely great, don’t get me wrong. They’re awesome for building a good customer base, for starting out in your store, and for bundling up together. They’re also the most popular items found among most resellers, which unfortunately also means that they’re the most saturated.
What do I mean by saturated?
A saturated market of anything is usually not good news for us resellers. Typically, this means that the market (our buyers) is over-flooded with slews of the same exact item since nearly everyone can easily find it in their thrift.
These items will always have a lower profit margin, which means you need to make time for more hands-on work, as more packages will need to be sent more often, to make the same amount as someone else with higher margins.
A lot of times, these items will have more flaws, which also increases the amount of time again that you’re spending on certain tasks such as looking them over either in the store or when you bring them back to your home office.
Time is money peeps! Let’s save as much of it as we can by working smarter, not harder.
These saturated items are usually lower quality, (which isn’t always a bad thing!), but this also leaves more room for returns, and you guessed it, that takes another large chunk of your time to have to deal with as they come back to you. They’ll need to be double-checked, rewashed, or steamed if you do so, restocked, and relisted.
- Related: How To Avoid Returns On eBay
Bundles are an excellent way of making sales if you’re on platforms such as Poshmark. On this one, in particular, creating bundles is exceptionally easy and most people will do so, given the chance to save on shipping since they have one flat fee.
However, since I’m no longer listing on Poshmark, it’s silly for me to have people try and bundle things. Sometimes, I even get notifications from two or more items sold, (to the same buyer), and they don’t even realize until shipping is complete that they all came from the same store.
As your store grows, I feel it is beneficial to be growing with it. Meaning, doing your research and finding out different ways to increase your revenue, and investing back into your business.
You can do so by searching for items that will bring in more bang for their buck, which you can find through other contacts either online or in person. Just ask around! It never hurts to have a few more people considering your store when someone’s getting rid of their stuff.
What if You Don’t Have Any High-End Stores Around You?
So, you’re probably thinking, but wait, there are ONLY saturated items around me. Not high-end, not upscale, nothing fancy. That’s totally normal and many resellers are still killing it out there by flipping these kinds of items. It’s definitely possible.
But, I highly recommend, to save yourself some time in the amount of packages you’re shipping, that you Google the best places to get bulk or wholesale inventory. This will solve your location problem since most of these places are able to ship right to your door.
I’m hopeful today’s post has been insightful for you and your business! Let me know about your own growth, or if you’re just beginning on your journey! Let’s move forward together and keep hustling.
Thank You!
A giant thanks to everyone that has supported me this far into my journey! I greatly appreciate you returning to read my posts hope that you will continue to drop by in the future.
Please feel free to drop any comments below that you would like to add! I am always open to advice, suggestions, or even hearing related stories of your own!
I stay as active as possible in the comment section, therefore I will reply to any questions asap.
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Happy selling friends!
-Shelby
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