It’s the #1 question that my friends ask me when pricing their items: Should I go higher and discount or do I go a little lower and choose “no discount?” I asked some of the my very fabulous sale owner friends to weigh in and here are their answers:
Consider Demand! It depends on the item and your goal. Things like clothes and books will probably sell faster with lower starting prices. But if you have a big-ticket item where demand always exceeds supply (e.g., Superyard XT Baby Gates or double strollers), a slightly higher price for a top-shape item can work.
– Anonymous Sale Owner
Price higher & discount! Everyone’s perception of “what it’s worth” is different, so your “higher price” may not seem too high to someone else. By discounting it, you’ve covered all your bases and appealed to everyone, maximizing your earnings.
– From DeAnn at Three Bags Full in Ohio:
Price a Little Lower! You should always price so that your items sell! Overpricing an item in anticipation of a half price sale day will only mean it doesn’t sell fast! Price your items to move…you don’t want to bring those items back home! Find a middle ground price and donate. (Did you know some shoppers will pass over items on half price day because they don’t feel like they are “getting a deal” if it isn’t marked half off?)
– Sara with KidSense in Pennsylvania
Always Go Half Price! Always! Whether you choose to price on the higher end or price low, the key is to always go half price. Once a sale switches to half-price shopping buyers are keenly aware of which items are discounted and which aren’t. As a consignor, you will see a huge jump in your check if you’re willing to discount your items.
– Katelyn with Rhea Lana’s of Overland Park