The popularity of the resale industry continues to pick up steam. In fact, according to a recent resale report by ThredUp (an online consignment and thrift store), the apparel resale market is expected to reach $51 billion by 2023. This doesn’t even factor in all of the other sought-after secondary market categories like appliances, consumer electronics, home and garden, health and beauty, mobile, and more. So we ask, in the vast sea of online sellers, what does it take to stand out? How do you reach the top of your resale game? In this post, we’ll take a closer look at the four tactics “top sellers” employ in their daily business.
To grow a repeat customer base, you want the transactions to operate as smoothly as possible from start to finish. From messaging with you directly to a transparent payment transaction, finding a trusted and easy-to-use marketplace platform can make all the difference. Offer your online customers an experience that is as personal and high-touch as possible.
Like many resale entrepreneurs and small businesses, reselling online often starts as a side hustle. However, many power sellers quickly learn that it can easily be a full-time job. While flipping an item is a relatively easy way to make money, resellers quickly learn that the processes behind the sale are not so easy and can take up far more time than anticipated.
This leads us to our next point…
Shipping, receiving, inventory management, storage… it’s no joke! Behind every sexy pair of shoes or refurbished computer you see for resale online, there’s the work behind the scenes and the time it took to get it there. Between juggling product inventory, invoices, and shipping and logistics, independent resellers operate much like any other retailer.
Just because you’re an online business, doesn’t mean the art of ‘clienteling’ is lost. Consumers still crave a personalized experience while shopping, and it’s up to you to offer that. Customer loyalty has shifted from brand names to great experiences– and that’s how you get repeat buyers. Become a “power seller” by answering questions, gathering insight, and offering personal advice to your customers. These tips will help you receive gleaming reviews and keep customers coming back for more.
Whether you’re looking to boost your current business to power selling status or begin your reselling journey, let us help you along the way! If you’re new to B-Stock or the world of liquidation, check out our article on Buying Basics: How to Become a B-Stock Buyer Part 1.
Start sourcing inventory today!