Happy Thursday all!
A couple of weeks back I shared the pros and cons of Poshmark and eBay for making personal purchases off of each respective platform. Different items are available at the best prices on each app so it is important to understand the details of each system. The same goes for selling! Whether you want to start a small business or just make some extra cash out of something you no longer wear, keep reading to learn more about each system and what to expect when selling!
-Only when I switched to thrifting and reselling full time did I start cross-listing my items over to Poshmark. I had bought a few items through Poshmark in the past, but never really saw it as a big platform for selling to a large audience. But honestly, in the past two months since going full time I have sold double the number of items on Poshmark than eBay and it is really my favorite site to sell through!
- NEVER any fees for listing (no matter how many items you have up for sale!), only the final fee when your item sells
- Buyer always pays for the USPS priority flat rate shipping, unless you are willing to provide discounted shipping (you pay 1/2 or all)
- Seller receives a priority flat rate shipping label (for boxes up to 5 lbs) directly from Poshmark, so packaging and shipping are super easy!
- Poshmark is a fun community of following other sellers and sharing items to shopping parties (usually themed, like "best in jeans" or "summer fun")
- Creating posts are easy because most of it is self-generated through a template
- Poshmark is much more strict on buyer returns, and will only allow returns if the buyer can prove the item description does not match the item -- plus buyers only have 72 hours to "accept" the item and request a return
- You can transfer the money earned from Poshmark directly to your bank account = no PayPal fees!
- There is a 20% sellers fee for each item sold, so anticipate Poshmark taking a big chunk of the selling price
- There is not yet an option to create drafts of the items you want to sell to post later
- Poshmark provides basic measures of success, but does not provide an indepth analysis (how many people view and click your items, your sales overtime, etc.)
- You do not receive payment for you item until after it is delivered AND the buyer has either "accepted" the item or 3 days pass (whichever comes first, but you are safe after 3 days from return requests) -- which means you could not see any money until up to a week after you ship your item
The Items That Sell Best For Me On Poshmark:
- Mid end womens clothing (Ann Taylor, J. Crew, Banana Republic) in the $15-25 price range
- Women's shoes
eBay is really the very first site that comes to mind when it comes to private selling and buying. It's where I started and I am grateful for its large platform and performance tools to grow as a seller!
- VERY large buyer base --171 million buyers!
- eBay provides in depth seller analysis to better understand how often your items are showing up in searches, how many clicks you get per view, your sales within a specified amount of time, etc
- eBay will only take a max of 10% as a seller fee from your item's sale price
- eBay offers mass editing (like a spreadsheet) of your items which you can sort and filter by different categories -- I use this tool often to audit categories, buying options, etc.
-Promotion options are great to hold a sale and bring attention to your store
- There are limits to how many free listings you have, despite whether your item sells or not (a personal eBay account allows 50 free listings a month before charging .30 cents per each additional listing)
- While eBay does have a program with the USPS to offer discounts on shipping, this system is much less efficient than Poshmark and can be way more expensive if you offer free or discount shipping because you either ship by the weight or an expensive flat rate
- eBay has a much more lenient return policy, and pushes on sellers to have a 60 day free returns option (aka seller pays for return shipping within 60 days no matter the reason for the return) and in the event that a buyer files for a return that is sketchy eBay 99% of the time will agree with the buyer
- As a seller you have to accept your money earned through PayPal, which costs additional fees on top of your seller fees
The Items That Sell Best For Me On eBay
- Men's dress clothes (slacks, blazer jackets, button up shirts
- Unique and/or vintage pieces
- High end designer clothing pieces
Hope this is helpful!
Also I'm excited to announce that I'm going to start offering reseller boxes very soon! If you are interested in trying out the resell game and don't have the time to source for yourself, I'll soon be selling mystery boxes of inventory with awesome brands (some NWT!) that you can profit off yourself! If this is something you are interested in, please let me know in the comments below or send me a message!
Some time has passed since the last update on Fancy Free Boutique or reselling tips, so I thought I would make a joint post for you guys on all things resale and eBay!
First off, FFB UPDATE!
I just haven't been able to find the time (and persistence) to grow my eBay store as much as I really want to. Right now I have around 50 items up for sale, but some of the resellers I follow have upwards of 1000 items! They are sourcing, posting, and shipping all day every day, but most of them are doing this as their full-time job. I am setting a goal for myself to have 100 items up for sale by 2018, and to try and maintain at least that at all times.
Currently, I have made around $400 in net profit after all my expenses (all inventory, shipping, eBay fees, packaging, etc.) since starting the store back in February. The first few months were deep in the red as I continued to source items while still growing my presence and rating on eBay. It's definitely not much, but hey, at least it's some sort of a profitable side business! I'm hoping for the future to see this at least every month once I grow my listed inventory. I'll continue to share my journey in the future!
Now for the tip!
Reselling Tip: Don't Forget the Details!
From the very beginning, I knew I wanted to have a brand that promoted beauty and appreciation from start to finish. No matter what you are paying for an item, you are a customer that deserves to feel special and lovely. As someone who loves a good deal, I know this oh so well.
When someone messages me on eBay about a product, before ever being a customer, I respond quickly with a formal and cordial message that is always ended with a "Best, Sydney". I feel it creates a more personable experience, and most people respond using my name in the next message.
Even after a purchase is made, it is important to me to continue the appreciation with nice packaging and wrap of the item. No matter what I buy online, I am always excited for it to come. Imagine how nice to come home to your door step to find such an adorable package waiting for you!
I got these adorable mailers from Amazon!
If you spend $10 or $100, every item is wrapped in tissue paper sealed with a Thank You sticker. Every purchase is appreciated!
I also include in every package a thank you note that includes information on the blog, letting them know where to go if they are interested in high fashion on a low budget. I was surprised to find how many people actually end up finding themselves on the blog after purchasing from me! I have received private messages with appreciation for their purchase, and even how happy they were with the packaging! She said it brought a smile to her face, and that is all you really want for a customer am I right??
Questions? Have your own reselling tips? Please leave a comment below to share the wisdom!
Thank you so much for reading!
I know when FF returned from the hiatus, I explained a little bit that I had started reselling mid to high end items on eBay, I thought I would explain a little bit more about how I got into that, and a few tips that I have learned along the way if anyone else was interested in pursuing the same thing!
Live for luxury? No trust fund, no problem!
Join the fancy free journey as we seek the
finer things in life, sans millions.
- Marie Claire, September 2016