I have been consigning with Indy Kids Sale for about three years now. It took me about two sales to figure out all the things I was doing wrong.
Now, I hardly come home with any unsold items (which means I’m making more money too!). Here are a few tips that I’ve learned along the way, to help increase the number of sold items you have.
1) First and foremost, go through your items and be honest with yourself – would you buy them? Obviously, things with stains or that are broken will not be accepted. However, think about other things such as, if the item is really worn, how much should you charge? If you were going to charge $5 for pants that you thought were in good condition, but upon further glance you see they are definitely more worn and ragged than you remember, mark them down.
2) Prepare your items with care! Launder all clothing, wipe down and clean all toys and equipment (you wouldn’t want to buy a high chair with crusted food or milk on it, would you?). Hang the clothing neatly. There are many times that Indy Kids Sale receives duplicate items – and if your items is not in as good condition as the one next to it, that one will be purchased before yours!
3) Price to sell – not based on what you want to make. Are you pricing your items based on what you want to make (while considering your percentage rate)? If so, you shouldn’t. Yes, you are making 60-70% commission – but you should price your item based on what people (you, your friends and neighbors) would pay for it. Marking something up even a couple of dollars can affect its ability to sell. Look at it this way – if you sold 50 items priced competitively at $3.00 a piece, at a 65% commission you would make 97.50. However, if you marked that up to $5.00 each, and your sales decreased by 50% (which is what happens sometimes when you over-price), you would make $81.25 selling 25 items at that price. You definitely benefit from pricing your items to sell!
4) Stuck on what you should price things at? Ask an experienced consignor, or a friend who shops consignment sales often. Or, check out the pricing suggestions page on Indy Kids Sale website.
5) Discount your items for half price day. I know, you may think “I’m not just going to GIVE it away!” but here’s the thing – some shoppers ONLY shop on half price day (or come back specifically for the half price items that day) – and if something isn’t discounted, they won’t even look twice at it. Do the same math as #3 above – these are items that you probably won’t sell otherwise (they are, after all, still left on the last day of the sale – so they could’ve been overpriced to begin with), so you really are only adding to your final sales. There have been a few items over the years that I didn’t discount for specific reasons (ie I was giving it to a friend if it didn’t sell). But over all, once I started discounting (which I didn’t do the first two sales), I GREATLY increased my sell-through rate!
Remember, this will only make you more money in the long run. Which will be great to offset the costs of shopping the sale!
-Libby Springer, Social Media & PR Manager