Preparing your Items for Resale
So you’ve finally received your products from your supplier. Your online resell store has been set up, now what? You can’t just post them online without actually preparing and manually sorting through each item right? They have to go through your entire inventory process before they can go ahead and be up for grabs online.
TIP: Speaking of inventory, read the Honcho Blog to learn efficient inventory management tips that you can use for your reselling business!
But what actual steps do you need to do before listing a product for sale online? We’ve rounded up some tips for you to get started:
1. Sort through the items and clean out what you want to sell.
When getting your inventory from liquidation suppliers, make sure that you sort and filter what’s inside the box so you know what you would intend to sell. For example, if you ordered a clothing apparel lot, there might be items included that you would want to keep for yourself or a loved one. If you got gardening supplies, check your own tools if you are missing some things that you might have in the box. This way you can save a lot more money since you’re going to buy them anyway.
After sorting through, check the physical condition of the products for resell. For clothes, determine if they needs to be washed, if there are visible stains, or if they have missing buttons. For electronics, make sure that cables and cords are complete. Simple things like these really make a huge difference and reduced customer complaints and returns in the long run
2. Know their market value.
Regardless if you are selling brand new or second-hand items, you must ensure that you are pricing your items appropriately, not too high and not too low as well. Search for their original suggested retail price, and deduct an amount that you think will be suitable for the damages and depreciation if any.
3. Conceptualize styling and listing design.
We’ve mentioned the importance of having high quality photos or videos for your online listings. It allows you to showcase the good features of your products and selling points of your products.
4. Try it yourself.
If a product needs testing, test it out yourself first to experience the proper way to use them. Make sure that each accessory is working properly and nothing is malfunctioning in the package. Perform quality check and make sure that your customers will have complete satisfaction once they receive your products.
5. Do market and competitor research.
Nowadays, chances are you are not the only one selling your products. There are a lot more resellers in the market that’s just as eager as you are. This is the reason why you should research what your competitors are doing, not to copy them but to strategize for your own business.