Michigan - ALL CITIES
Have you looked at your pile of unsold items at the end of a sale and asked yourself what you could have done differently?
Here are some quick tips to increase your check and decrease your pick-up pile.
1. Take discounts out of the equation temporarily.
Price items to sell before you even think about discounting when you’re deciding on values. Thinking that you can price something higher, then discount it if it doesn’t sell, can affect your sell-through rate because most consignment sale shoppers have a bargain shopping mentality. Starting with a lower initial selling price will go a long way toward increasing your consignor check in the long run. Consignment Mommies has a great list of pricing suggestions on our website.
2. It’s in your best interest to discount just about everything.
Mark your items to be discounted. On average, items that are discounted will outsell items that are full price by a margin of 3 to 1. I can’t tell you how many shoppers we’ve had at our sale during a discount sale that will put something back on the rack because “No Discount” is on the tag. Ask yourself if you’d rather take something home or have the money. If money’s your answer, discount it.
3. Look Critically
· If you’ve had something in a sale for more than one season, critically look at the garment and check the tag. It’s probably overpriced, in low demand/out of style, has been loved a little too much or any combination of the above. Decide if you want to reduce the price a little more, add it to your home’s donation box or if it’s time to just let it go.
4. A little TLC can go a long way toward selling more items.
Take the time to really make sure things look neat and easy to care for because most mamas hate to iron. Wrinkled, messy clothing draws a critical eye when hanging next to neatly hung clothing. Wiping down a high chair, cleaning the dirt off an outdoor toy or trimming the strings on a jacket can improve the appearance of those items, making them more appealing.
5. Be logical.
If a store has frequent sales with big discounts, price lower than 25% of the retail price. Many people only buy items at Kohl’s or kids’ jeans at Old Navy when they’re on sale and they will assume you do the same.
6. Be unemotional.
Shoppers do not know that it’s hard to let an outfit go at a great price because your child looked so adorable in it. They just know they have a budget and can only buy a limited number of items.
7. Consider bundling like items.
Some shoppers are more likely to buy a set of 3 basic turtlenecks for $5.00 than they are two single turtlenecks for $3.00 each.
Incorporating one or more different thought processes when pricing and tagging your items can increase your profits. Use the mindset of what appeals to you as a shopper when you’re getting ready for a sale. You might be surprised at what can happen when you try something new.
About the Author
Elizabeth Renfroe has a passion for all things consignment sale-related. She enjoys coordinating the Children’s Market Sale at First United Methodist Church, Jacksonville, Alabama.