With the recent rise of resale apps like Depop and Poshmark, selling used clothing online is becoming more fashionable. A lot of people have turned around resale of clothes at a lucrative side concertgaining thousands of followers and making dozens of sales per week.
The second-hand clothing market is expected to triple in 2030, according to a 2021 study by the Mercari resale platform and research firm GlobalData, as more fashion enthusiasts clean up their closets and they comb through thrift stores to find valuable items to resell.
Here are some things to keep in mind before you dive into your closet.
Set your own prices
Unlike online retail stores, resale apps let you decide how much you want to list your items. Before listing a garment, look for similar cross-platform items to determine what it is worth, and keep in mind that the brand and condition of the garment will affect its price.
In apps like Depop and Poshmark, you can send messages directly to potential buyers and negotiate selling prices. They also have tools that allow you to discount items from your inventory.
“Sales can be sporadic,” said Andres Castillo of Los Angeles, who sells rare designer pieces through Depop, eBay and Instagram under the Debonair Vintage name. With rare or high-value items, it may take a while to find a buyer who appreciates the value and is willing to pay for what you are asking for, so that you can benefit.
Like a job
“I treat (resell clothes) like my job,” said Eve Perez, a full-time student in Lebanon, Pennsylvania, who sells under the name Fitsfinesse and appeared on Teen Vogue in 2021 for her success at Depop. Respond to buyers’ messages on a daily basis, photograph products to list, sew custom pieces, and pack, and place orders.
Communicating clearly with first-time buyers is essential: “If you don’t build that relationship, you won’t get sales or recurring customers,” he said.
Even if you set prices, reselling online takes longer than delivering your closet. According to Depop, sellers who list at least 15 items per week generate more sales over time, by creating followers.
“It takes a lot of time and dedication,” Castillo said. Top sellers need to learn how to take attractive photos, understand shipping rates, negotiate text messages, and research brands and trends to get the most out of their inventory.
Overhead costs add up
When setting your prices, it is important to consider the overhead costs. Online resale platforms charge commissions, plus additional fees for shipping through the platform or for accepting payments through a processor such as PayPal. Depop takes 10% of each sale and eBay takes 15%; Poshmark charges $ 2.95 for items under $ 15 and charges a 20% commission on items sold for more than $ 15. PayPal, which integrates with Depop, Poshmark and eBay, charges another 3.49% plus 49 cents per transaction for payment processing.
In addition, you are responsible for purchasing packaging materials, printing labels, and making room to store your inventory, which may require the purchase of trash cans and hangers. High-performing sellers also recommend adding a personal touch to your shipments, such as free stickers, small accessories, or a thank-you note. Given these costs, lower-priced items may not make sense to sell, especially if you don’t even save them.
You can reduce costs by reusing your mailboxes and mailboxes and printing labels at your local FedEx or UPS store instead of buying a label printer. Or, reduce the cost of shipping buyers by grouping several items into one shipment, which can motivate shoppers to buy more in your store.
Building your brand
The most successful online retailers always have strong personal brands. Finding your niche and building loyal tracking is essential to long-term success on a resale platform.
“It’s like Instagram, but for sale,” said Pérez, who focuses on curing a consistent aesthetic and marketing his store on social media platforms like TikTok.
Castillo grew its business by serving a very specific market: vintage Moschino and Chanel collectors. She sells on multiple platforms and also uses her Instagram account to rent pieces to stylists for photo shoots and red carpet events.
“Bow down to your personal taste,” Castillo said. Even if you don’t have a selected collection to sell, custom packaging or a unique photo background can help your items stand out.
Both Pérez and Castillo emphasize the importance of crossing social media platforms to reach as many potential customers as possible. Creating an Instagram account dedicated to your business and following other sellers and designers online can help attract shoppers to your store. Check popular pages for trendy hashtags and add them to your posts to increase their visibility. Taking the time to promote your brand on social media can help turn the pieces you haven’t used in your closet into significant revenue.
Add Comment