Resale Global

The Best Ways to Prepare Your Business Online & Offline For Prime Day

Whether you are selling on Amazon or not, you need to prepare your business for Prime Days.  With June 21-22, 2021, designated as Prime Days, below are some recommendations that every business should do in advance to maximize this selling opportunity. 

The first step if you are selling on Amazon, make sure your product page content is set to maximize your appearance in searches: 

  • Use clear, high quality images that show the item(s) from all sides,  
  • Your details should always include measurements, 
  • Use unique descriptions to capture buyer interest – good content can increase sales 10%+ 
  • Ensure your account details and shipping options are set correctly, 
  • Curate your brand experience – suggestive items should be linked and your store should have plenty to shop from.  The more you list, the more you will sell.   

All of the above applies to your website, too, even if you’re not selling on Amazon.  You want to ensure Google is able to pick up your listings for interested buyers to quickly check out on your own website.  People shop on emotion and buy on value.  Using an integrated pricing assistant tool and showing items that are marked down will draw people to your website where you can create engagement opportunities for them with discounts, etc.  

Secondarily if you are a small business, and not online, how will you prepare to attract people away from their phones and keyboards during Amazon Prime Days?  Here’s a few ideas that others have used:  

  • Sidewalk sales – Sidewalk VIP allowing people to come in an hour before the store opens creates buzz for those who want the best items at a bargain.  Stay late and offer happy hour discounts or twilight shopping for additional savings.  
  • Bag Sales – provide reusable branded grocery bags that people will hang onto for a minimal add on price to the price you charge for them to fill the bag.  Capture that longer-term branding opportunity.  
  • Buy one get one half off or free – especially for items that are seasonal or leftover from last year. 
  • Use Postcards – put a coupon postcard in every bag and collaborate with other local businesses for discount opportunities.  Help drive business to each other for “private discounts” that are only available to insiders.  FOMO is real and people will show up if they think they are being left out or missing out on something.  
  • Have a PRIME TIME LIVE Event yourself – you can easily capture those shoppers who are online through your social media channels and use two phones at once to sell on Facebook and Instagram at the same time.  Promote it well in advance and have free giveaways for certain items.   

Should you want help automating your processes or taking your store online, the Resale Global team is here to help you.  There’s no installs or downloads and our in-house team will set up your website, help you automate LIVE sales and make sure you are selling on Google and Amazon if you like as well as eBay, Facebook, Instagram, Pinterest, and other selling channels.  

Every Big Business Started Small

In 2005 Etsy’s founders, Rob Kalin, Chris Maguire, and Haim Schoppik created the company in a Brooklyn apartment. Their original vision was to create a business that would function as an online platform for craftsmen to sell their goods. Read more about their history.

Depop in England was founded by Simon Beckerman in 2011 as a social network where readers of PIG magazine could buy items from the young creatives featured in the magazine. More about Depop

Etsy just announced it will be acquiring the fashion resale app Depop for $1.6 billion.

Not only is the fashion resale industry the fastest growing segment of retail, but independent resellers are a big chunk of the business. 2020 was a year that saw not just a huge surge of e-commerce, but also the flourishing of a lot of smaller businesses and cottage industries as a swathe of people opted to shop locally and support individuals, and to buy more used goods — areas where Depop plays very strong.

Reselling apps like The Real Real, Poshmark, Tradesy and Mercari in addition to one of the originals – eBay – have made it very easy for resellers to start a business with very little overhead. Once they have an established following, many have gone on to have their own websites and then brick and mortar stores.

We have found many independent resellers who have cornered a niche in the market are very successful. Their brand personality creates a unique bond with their customers, the majority of which they never meet in person.  People happily return to shop websites of value to them and they had a good experience.

What niche do you love?  Are luxury handbags your passion? Are you always on the lookout for vintage glass wear? Have you been stopping at every sports memorabilia shop looking for a specific trading card?

Truth is, the best resellers started out as collectors.

Just think – your resale business could be the next one acquired for a considerable amount of money. Read more about Etsy’s aquisition.

One of our international clients dreamed of being a version of The Real Real in their country. With a combination of brick & mortar and ecommerce, they are now billing millions of dollars a year trending upward every month.

You have a lot of choices in resale, consignment, estate sale, pawn shop and swap meet software.  Resale Global is the only platform that offers 24/7 service and enables inbound shipping allowing someone who has a dream of becoming the next Real Real to actually execute it.

I would love to chat with you about taking your resale business to the next level

Nataley Shea
Sales Manager
Schedule a time here

Three Keys to Compete with Major Retail Resellers

Three Keys to Compete with Major Retail Resellers 
With retailers like Lululemon, Nordstrom and Off 5th Saks adding resale to their business, it’s no surprise that resale is the fastest growing part of retail with a projected growth to $64 billion by 2024. 

As you look to expand your online presence, you should consider the following thoughts to grow your business online. 

  1. Get Your Inventory in front of the Most Customers with Cross-Promotion.  If you want the benefits of internet, make sure to use a service that makes cross-promoting your inventory simple. The ideal combination would provide a platform that promotes your business online like Shopify and can list your inventory across multiple platforms like eBay, Google Shopping, Facebook, Poshmark, etc. with a single entry. Ask your potential provider if they have single entry cross-posting as it is the simplest and quickest way to start selling online.
  2. Find a Software that Understands Varying Types of Resales. You know your business is unique. It could be a traditional consignment retail store or focused on retail swap events or estate sales or just starting online resales; regardless of the business type, you need to make sure that the software understands your needs. Does the software have features that simplify your life like?
  • Consignor Knowledge – Consignor Agreements & Relations
  • Business Counsel – Pricing Assistance
  • Legal Support – Privacy Policies & Procedures
  • Creative Selling Options – Automated Facebook Lives
  • Marketing & Selling Support – Full Website Creation & Integration
  1. Make Sure Your Software Provider Sees You as a Partner, not Just Another Client.  When finalizing your decision, gain some insight into what support the provider has for your business and what their capabilities are. Are they available around the clock?  Do they have an in-house team or is it outsourced? Make sure that they can both support your current inventory needs while also help provide marketing, creative and technical support as the business grows.  Your provider needs to tie their success with your success and be your #1 fan.

Whether you are thinking about Resale Global as your partner in expanding your business online or another provider, always look to find solutions that help you reach more customers, expand your revenue while not adding much complexity into your business. 

If you have questions about best practices or options for your business, I would love to chat. 

Nataley Shea 
(800) 336-7675 
nataleys@resaleglobal.com 

Increase Your Estate Sale Profits With These Four Simple Steps

Estate sales are an industry that has traditionally relied on local foot traffic, word of mouth, limited mailing lists and often corner signs to attract attendees.  While one person in my neighborhood sold their house and all the contents in one fell swoop, that’s not always the case, so consider just a little pre-planning and prep to increase your sales and profit faster.

1. List Inventory Online to Maximize Google Search Capabilities
Make a listing for every single item and price it accordingly.  Most inventory management software has pricing assistance built in, so while it may seem time consuming to post every item, it will take less time to list it with the pricing assistant than to look individual items up manually.  Make sure each listing is accurately described including each item’s condition on a scale of poor to like new.

A nice feature of an automated inventory management software is that you can sort inventory into categories by room online and onsite at the sale making it easy for people to pay in advance and then pick up the items the day of the sale. 

Take great pictures with accurate measurements. Take pictures in good light, front, back, top & bottom, as necessary. Measurements are also important as are care tags, etc on clothing.  The more accurate your descriptions, photos and measurements are the less questions you have to answer later. 

2. Determine Markdowns and Strategies for Multi-unit Items

Most estate sales sell items “as-is”, and the first day there’s less price flexibility.  When running a sale both online and in person, the competition heats up, so consider when you want to reduce prices and how much.  Ideally you are having a 90-100% sell through so you have fewer leftover items at the end of the event.  You can set up “make an offer” online with automated acceptance rules built in.  During the event you will want to have one person watching the website sales to tag items sold prior to the buyer arranging pickup or shipping.

Using inventory software allows you to decide what percentages you’d like to markdown throughout your sale. 

‘For example, maybe the first 2 days are at full price with make an offer online set to accept anything higher than 25% off.  The third day maybe you take 33% off and the final day is 66%.  Your inventory system will calculate all that for you, show the correct prices in your online catalogs and remove sold items as they sell online or at the event.’ 

Your software will also print tags, again, saving time from having to make a sticker manually for each item. 

You can also offer bundles – like 3 frames for $10 onsite – but when selling items online you can utilize the ‘make an offer’ button and possibly sell each frame for $10 to generate more money overall. 

3. Show Me the Money! Promote and Ensure Good Traffic Flow

You want buyers to arrive and buy early.  Having inventory online allows early browsers – who maybe don’t buy immediately- to decide after they leave that they really want something to pay and pickup which helps with your traffic flow.  People can pay anytime through your website, or you can run the card onsite with a wireless card reader but either way, you get your cash faster when you have organized yourself to accommodate both onsite and online buyers.

Keep items to the perimeter or center of each room at your onsite location, and don’t clutter tables with too many items. Shoppers should be able to glance over your things and keep going if they’re not interested, and you want enough room for a few people to stand and deliberate without holding everyone else up.

Have your staff ready and trained to provide service onsite and online.  Customers have lots of questions but now if you have your website running properly you can capture more people who didn’t have time to drive back today but want to buy something they saw.

Start your promotions early. Use email blasts, postcard marketing to previous customers, local newspapers, neighborhood signs, Facebook, EventBrite, Craigslist and most importantly, online ads.  People search on their phones so if your website is set to scrape to Google Shopping properly you will see immediate impact on your sales.

4. Set up Easy Shipping and Delivery

Your online site will be set up for immediate collection of delivery and payment if you choose.  Customers can easily pay for delivery if you have it coordinated in advance.  Longer haul trucking is easy to set up if you take time to plan it and have that option for shipping, delivery and handling as your business model demands.  

After all, we want to sell those pianos, so make it easy for people to have them delivered.

About Carolyn Thompson & Resale Global

Carolyn is the Founder of Resale Global with over 15 years of experience in the resale and consignment industry.  Her organization, Resale Global, was created to assist individual’s and organization’s needs both in person and online to expand their reach with it’s simple to use online inventory management software.

If you are looking to automate your Estate Sale, Antique Mall, Flea Market, Swap Sale or other type of resale business, The Resale Global team is ready to help you make a successful website move. Click here to message us about setting a time to discuss your business today.

Sell Online and Prosper

There is a collector for everything. As I look around my home, I see my collections of things that are mostly useless to anyone but me – sand in jars and bottles from beaches I have been to around the world, Mardi Gras beads from different events I have been to over the years and my beloved postcard collection going all the way back to the 70’s. It started when my friend Laurie sent me a postcard to Maryland from her family vacation to Williamsburg, VA when we were 9. But some of my collections might have some value to the right collectors – the entire Bloom County series of books (some of them first editions), all of the state quarters (I think the Delaware and New Jersey had the fewest minted so I know I have several of each) and other coins like wheat pennies, and real silver coins that include at least one buffalo nickel.

 

The internet is making it easier to find those long lost items that will complete (or enhance) any collection. Some things are obviously desirable collectibles – original Star Wars & Star Trek figurines, sports memorabilia and comic books. But there are many items that might be laying around your homes that could be worth a fortune to the right collector. How many people kept all their vinyl records long after they got rid of their turntables? The album art itself is worth more than the records in many cases. Do you still have VHS tapes?  What about your mom’s Pyrex casserole dishes from back in the day? I wish my dad still had that typewriter he used to write his dissertation when he was at Stanford in 1972. Click here to see what you need to start looking for around your house (or your friend’s houses).

 

One year for my dad’s birthday I gave him a roll of 1941D pennies that I bought on eBay for about $5. His birthday was in 1941 and his name is David so naturally he was quite tickled with the gesture. He took them to work and handed one out to everyone who remembered to wish him a happy birthday. Now that I think of it – I wonder if those two dollar bills I have stashed away to give to children of my friends could be worth more than 2 dollars apiece? Those kids always think I giving them fake money anyway.

The Language is the Same but the Lingo is Different

As I have been spending more and more time with our international customers, I have found that the term “consignment shop” is not always the norm. One of our UK clients informed me that a common term there is “dress agency.” After that, I noticed some of the hashtags Resale Global follows on Instagram were attached to businesses with “dress agency” in the title. What is commonly known as a “thrift shop” in the US and Canada might be referred to as a “charity shop” in the UK or an “opportunity shop” (or op shop) in Australia and New Zealand.

As you are out shopping the resale shops of the world, you may have noticed there are a lot of different terms for “old.” For something to truly be an “antique”, it must be over 100 years old. According to Etsy, anything over 20 years old can be categorized as “vintage.” If you hang onto your wardrobe long enough (and you stay the same size) it will go from being “out of style” to a cool version of “vintage.” If I had known that everything I wore in high school would now be replicated in today’s fashions, I would have hung onto more of my wardrobe to be sporting true “retro” fashion.

I got my love of shopping resale shops from my mom. When I was growing up, she always knew the best places to go. While my friends at school would show up wearing the latest trends (and basically all looking like different versions of the same thing) I would come in wearing my own eclectic style. When asked where my clothes came from, I would just shrug and say “my mom picked it up somewhere.” Back then I was embarrassed because I really wanted to wear the newest looks like my friends. Now when asked the same question, I just shrug and say “online” because I don’t want to share where I get the high-end designer pieces at rock bottom prices. I recently met my mom for lunch and I noticed she was driving a different car than the last time I saw her. When I questioned her about it, she said she picked it up at the “second hand place.” I looked at her for a few moments and said “you mean the used car lot?”

Lululemon is testing a resale program where shoppers can sell and buy used items

“Lululemon is getting into resale.

The leggings and sports bra maker announced Tuesday it is piloting a trade-in program in California and Texas next month, which it plans to expand to an online resale program in June.

Starting in May, Lululemon customers in California and Texas will be able to trade in gently used Lululemon items in a store or by mail in exchange for a Lululemon gift card.

The following month, those gently used items will start to be sold online to people who want to pay less and don’t mind a bit of wear on their tops and bottoms. The company is calling the pilot “Like New.” Lululemon is partnering with Trove, a business that already helps brands like Levi’s and Patagonia build out resale marketplaces, to make it happen.

Lululemon says that all traded-in items will be cleaned, and the items that don’t meet its quality standards will be recycled. The retailer says it will rely on shoppers’ feedback in the pilot program before it scales it to other states and more stores.

“Lululemon is actively working to help create a healthier future,” CEO Calvin McDonald said in a statement.

The business is working toward several sustainability goals that it laid out last fall, including making 100% of its products with sustainable materials and end-of-use solutions by 2030, he added.

 

Lululemon certainly isn’t the first retailer to experiment with resale. Businesses are feeling a greater urge to do so when they see that sites like Poshmark and Depop, which sell used goods, are flooded with their products.

Last year, Levi Strauss & Co. debuted a buyback program for its jeans called SecondHand. Nike announced earlier this month a new initiative to accept gently worn sneakers that are cleaned and resold in select stores at a reduced price.

Retailers from Gap to Macy’s to Nordstrom have dipped their toes into the secondhand market, too, partnering with marketplaces like ThredUp, to encourage customers to send in used items but also to allow them to thrift for themselves.

Thrifting is increasingly popular with Gen Z, a generation that prioritizes environmental concerns.

Mentions of thrift and consignment stores ranked No. 10 on a list of teens’ favorite brands this spring, according to Piper Sandler’s biannual report on the generation’s spending. That was up from 23rd a year earlier, as more teens familiarize themselves with secondhand marketplaces.

According to a separate report from Jefferies, the secondhand market generates nearly $30 billion in sales annually in the United States, and it expects the market will grow to represent a mid-teens percentage of the total U.S. apparel market over the next decade, driven by online resale. Gen Z spenders are already at this level, the firm said.

“We believe most companies should find some way to participate in resale, either via partnerships or an owned platform, given (1) the growing importance of sustainability to the consumer, [and] (2) its growing importance to investors,” Jefferies analyst Janine Stichter said in a note to clients.

In tandem with the debut of its resale pilot program, Lululemon will also be releasing a limited edition collection of merchandise that is made using lower-impact dyes, which are upcycled from the waste of oranges, beets and saw palmetto trees. These dyes use less water, carbon and synthetic chemicals compared with conventional synthetic dyes, it said.

The unique tie-dying process also produces a slightly different result each time, so every print in this new collection will be unique, it added. The line, called Earth Dye, will be available globally online and in select Lululemon stores on May 11.

Year to date, Lululemon shares are down about 7%, as of Monday’s market close. The retailer has a market cap of $42 billion.”

Article by: 
Lauren Thomas
@LAURENTHOMAS

The Sports Trading Card Boom: Baseball Cards Selling for Millions

The sports trading card boom: Baseball cards selling for millions

The recent surge in sports trading card sales has been inspired by fans looking for new ways to engage with sports during the pandemic, as well as nostalgia among older millennials who collected cards as children and now have enough money to invest in their hobby. And with billions being spent online each year and cards setting records, the trading card boom has inspired more investors and entrepreneurs to enter the market.

The majority of the approximately $5 billion sports card trading market has been cards sold in eBay auctions. But now, a new wave of online start-ups could change the way enthusiasts and investors collect and sell sports trading cards forever.

If you have sports cards tucked away in a box or binder somewhere collecting dust, you are in a prime spot to join this booming industry!  If you’d like to see a free mock up of what your website might look like and discuss how the process works, schedule a time to learn more today

To read more on this topic, check out this article:
https://www.cnbc.com/2021/03/06/explaining-sports-trading-card-boom.html

3 Tips to Increasing Online Sales

It takes work to curate your client base so once you have them shopping with you online you want them to keep the items they purchase.  Take a minute to consider these 3 tips to increasing your sales and minimizing your returns- descriptions photos and measurements. 

While it might seem onerous at first to include this information for each item, it actually creates efficiency.  If someone has a question you don’t have to go back and find things because all the info you need will be right there.

When you start getting questions every day and overnight you’ll know your website is getting traffic so this is a great step in the right direction.

Louboutin Gets Major Investment

Every day we work with store owners around the world on their online presence and increasing sales.  High end luxury resale is hot, with brands like Louis Vuitton and Louboutin leading the charge.  Good news for fans of the red soled works of art, Louboutin has just teamed up with one of Itay’s most famous families and founders of Fiat, the Agnellis.

The Agnelli family’s investment company, Exor, has been diversifying its investments in recent years as the founders of Fiat Chrysler expand beyond the car industry. Exor holding company said Monday it’s acquiring a 24% stake and sees growth potential for the brand in China and in e-commerce. When working on expansions, choosing the right partner is important – consider your goals and what will help your business in both the short and long term.  If you’re not selling online yet, now is the time to get that sales channel off the ground and grow your brand for the future, too. Resale Global is the only woman owned software company in the resale software space, and the only one with a full in house tech team ready to assist you end to end from start to launch to increasing sales.  We don’t say start to finish because our support never ends – we are always here to help.  Reach out to us today to discuss your goals and see if Resale Global is the right partner for you. 

Read more here.

Photo: A model wears Louboutin shoes 
Photographer: Tristan Fewings/Getty Images