Where do you find the best information about your resale business?
Well, in our Products for the Professional Resaler, of course. But there’s another source for great ideas you can adapt to your consignment, resale or thrift shop, and that’s (more…)
Posts Tagged ‘success’
Learn a Lot: E-snooping
Posted in I've been meaning to tell you, Shopkeeping talk, tagged advertising, learn a lot, Products for the Professional Resaler, resale shopkeeping, starting a consignment shop, success, web on September 18, 2017| 2 Comments »
Thanks… a million!
Posted in 5- Minute Fixes, Mailbox: 1-on-1 Advice, Shopkeeping talk, tagged customers, resale shopkeeping, success on September 14, 2017| 1 Comment »
I write a monthly column called Growing Your Business for the NARTS newsletter. One of them was about being a customer who should have gotten a thank-you note but who didn’t, and the not-so-good taste it left in my mouth.
In response to that column, Kerri asked a good question:
I have question for you Kate–how do we decide WHO to send a thank you to–whether it be a gift, a card, a gift card, etc? With an average of around 40-50 sales per day depending on the time of year, how do I decide who to write to? As you said, your purchase might not have been the biggest sale of the day, but it would still be nice to receive something. Any words of wisdom greatly appreciated–thanks!!
My thoughts on the ROI (Return On Investment) of thank-you notes follows. After all, we can’t write thank-you notes to everyone, so where will it (more…)
Such a shame.
Posted in Shopkeeping talk, tagged advertising, resale shopkeeping, success, web, word of mouth on September 12, 2017| 2 Comments »
Wow, look at these GREAT results, only 40 minutes into a shop’s live Facebook video!
The shopkeeper wasn’t actually selling, as in “drop your email”… in fact, she wasn’t even mentioning prices of the goods she was selling, but rather showing us some really nice pieces.
I’m guessing she wanted to spread the word
What would Kate do?
Posted in Mailbox: 1-on-1 Advice, Shopkeeping talk, tagged accepting, consignors, customers, resale shopkeeping, starting a consignment shop, success on August 28, 2017| 2 Comments »
Could refining your acceptance & pricing procedures make this a less-scary sight? Click!
A question from a shopkeeper that’s pretty pertinent at this time of year:
Q: I need to limit the number of drop off we get (just too much inventory). I am leaning towards ‘quiet hours’ and stop taking drop offs an hour before we close, and maybe no drop offs on Monday…
Here’s a pretty no-holds-barred reply. If you are easily bruised, please skip this message.
Kate says:
If consignors cannot drop off after THEIR work hours, you’ll lose those who work (and who tend to change out their wardrobes more often than those who don’t.) In many cases, the ideal “drop-off” time would be after 5pm… depending on local office business hours, distance from work to your shop, and so on.
Limiting the number of drop offs does only one thing: Limit the selection from which YOU can select the items which will sell fastest ( = you have the clientele for them)
… which gives you rapid turnover which leads to more frequent visitors/ buyers coming into the shop. Making it less convenient for consignors is not the answer.There really is no such thing as “too much inventory”… all there is is “too much inventory that is as yet unsold.” Limiting incoming means you are limiting yourself to consignors who can fulfill YOUR needs… and I think the most experienced consignees on this group will tell you that the “best” (most salable for the most $) stuff usually comes from women who are not able/are unwilling to work their drop offs around a shop’s limited schedule.
(Side note: If there was ever a day NOT to choose as a “no drop off day“, it’s Monday. Doesn’t EVERY woman clean out her closets on Sunday? And who wants that pile of stuff cluttering up the bedroom past Monday morning?)
If your shop fills up, it’s because your turnover is too low. Try pricing so that things fly out the door… not so low as to be unprofitable to you or the consignor, but low enough that most items sell before that 20% off at 3 weeks guideline.
If drop offs are driving you crazy, try altering your handling procedures and staff who are handling the goods. Some shops actually have processing personnel who work after the shop is closed for the evening… so next morning, sales staff come in to a shop ready to be freshly stocked with recorded, tagged, rehung goods.
Tell ’em WHY they should step in….
Posted in Shopkeeping talk, tagged advertising, resale shopkeeping, small business, success on August 7, 2017| 2 Comments »
WIIFM.
“What’s In It For Me?” is the question everyone has. We’ve written about this a lot. Here’s an overwiew of the concept.
And a great example of how to put your WIIFM (more…)
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