The Secret Habits of Successful Resellers

Imagine diving into the vibrant world of reselling, where each day brings a new trend, a new opportunity. The e-commerce boom has flung open the doors wide, with online sales in the fashion sector expected to surge to $713 billion by 2022. But here's the kicker: while the digital racks are endless, only a select few resellers climb to the top. Ever wonder what their secret sauce is? Spoiler alert: It's all about the habits they cultivate and the scale of the systems they employ.

Want to be a step closer to Pro Reselling? Let's begin.

Habit 1: Understanding Your Niche

Did you know that the most successful clothing resellers are akin to style and fashion gurus? They have an encyclopedic knowledge of their niche, from the timeless classics to the fleeting fads. How do they do it? They live and breathe their market, keeping an ear to the ground and an eye on the runway. Have you ever found yourself lost in a rabbit hole of fashion blogs at 2 a.m.? That's homework for a pro reseller. Creating a habit of knowing and understanding your niche sets you apart from novices.

Habit 2: Sourcing Strategically

Here's a funny story: A reseller once found a rare, vintage designer bag at a garage sale for $10. It sold for over $500. Luck? Nope, strategy. Successful resellers know that finding the right source is like striking gold. They're always on the hunt, whether it's exclusive trade shows or the hidden corners of the internet. So, creating a consistent habit of sourcing enables you to regularly find the needles in the haystacks of the reselling world. Just remember, it's not about what you find within a single trip, rather, it's what you find from the month of thrifting frequently. With reselling, you win some, you lose some, but if you can create a consistent habit of sourcing, you can ensure the highest chances of finding something when others don't. What's the most unexpected place you've found a treasure?

Habit 3: Building a Strong Brand

In the world of reselling, your brand is your knight in shining armor. It's what sets you apart in a sea of sameness. Think about it: Would you rather buy from "Shop123" or "EcoChicBoutique"? Successful resellers craft a compelling brand story that resonates with their audience, making every purchase feel personal. Sure, one of customers won't necessarily care, but if you're in it for the long haul, you'll create a habit of branding everything you do, and it'll show both to your shoppers as well as in your confidence as a small business owner. What's the story behind your brand?

Habit 4: Leveraging Social Media

Imagine posting a picture of your latest find and it goes viral. Orders start pouring in. That's the power of social media for resellers. It's not just about selling; it's about creating a community, sparking conversations, and turning followers into fans. Ever seen a product blow up overnight because of a clever hashtag? That could be you. With social media practically being a free marketing platform, you can both build a brand, invite fans, and showcase your latest finds to your followers who turn into buyers. If you're running an ethical and sustainable business, people will flock to your store because you're in business to serve them. When other sellers are asking unrealistic higher prices for the same item, you win because you understand as a business owner that the game of reselling is about turning over your inventory as soon as possible. In leveraging social media, you can create a presence that serves your customers.

Habit 5: Prioritizing Customer Experience

Ever received a package that was so beautifully wrapped, it felt like Christmas? That's a reseller who knows the value of customer experience. It's the little things – a handwritten note, a seamless return policy, a surprise discount. These gestures create loyal customers who come back for more. More than anything though, it's about creating the correct expectations for your customers. In our experience, 9 times out of 10, we get 5 stars because we've properly set the expectation of our items through a clear title, description, and photos. We've provided everything (measurements, proper lighting, and material tags) that the buyer would need to hit that BUY NOW button. Create a habit of prioritizing your customer's experience and we guarantee that this will boost your algorithm and increase the chances of your sales. How do you make your customers feel special?

Habit 6: Mastering the Art of Pricing

Pricing is an art and a science. It's about finding that sweet spot where your item flies off the shelf without leaving money on the table. Did you know that even a $1 difference can significantly impact sales? Successful resellers are always tweaking, testing, and learning. When you first begin reselling, every item is known and remembered. Once you've scaled an inventory of 1,000 items or more, they just become numbers. At the end of the day, you have to remember that you're in business. Therefore, it's vital to create a calculation for yourself that enables you to have a standard on what you can or cannot accept on an item.

For example, if you're looking for a profit margin of 75%, you have to sell an item for $100 if you paid $25 for it. (Not taking into consideration platform fees).

Profit Margin (%) = ($75 / $100) * 100

Thus, consider how you can create a habit of knowing what you're willing to accept for an item. Remember that it's about the bigger picture, not the single sale.

What's your pricing strategy?

Habit 7: Staying Agile and Adaptable

The resell market is fickle. What's hot today may be forgotten tomorrow. The best resellers are those who can pivot on a dime, embracing change and turning challenges into opportunities. Remember when vintage band tees became a craze overnight? The resellers who jumped on that trend made a killing. Create a habit of getting out of your comfort zone and becoming adaptable. Your prior niche may have been selling kicks (sneakers), but maybe it's time to branch out into other types of shoes like boots or sandals. Even better, how about designer home goods? How quickly can you adapt?

Conclusion:

The reselling journey is thrilling, filled with unexpected twists and turns. But remember, it's not just about what you sell; it's about how you sell it. Cultivating these habits can set you apart from the crowd, turning your reselling business into a success story. Ready to take your reselling game to the next level?

Got a reselling story or tip to share? Drop it in the comments below. Want more insider secrets to reselling success? Sign up for our newsletter. And if you're ready to dive deeper, check out our coaching program and courses designed specifically for resellers like you.