Deciding to utilize ThredUP for my reselling business has been one of the best decisions that I have made as a reseller. I love using ThredUP to both liquidate older inventory and to make a passive reselling income. Before sending any of my items to ThredUP, I took some time to evaluate my options to determine if I was making the right decision for me and my business. Today, I wanted to share with you the 5 essential steps that I made in order to have success on the ThredUP platform.
Step 1: Learn the Payout Structure Ahead of Time
Before sending any items into ThredUP, it is really important to do research ahead of time. Items on ThredUP sell at various price points so it is very important for sellers to understand ThredUP’s pricing and payout structure before sending items into them. (If you are interested in checking it out, I will like it HERE for you.) By doing this, sellers will have a better understanding of how ThredUP prices items and know what to expect in terms of pricing and payouts. I’ve seen many people send items into ThredUP and have a negative experience because they did not educate themselves on this information ahead of time. In order to avoid this, I highly recommend learning as much as you can about this platform in advance.
Step 2: Figure Out How Many Items To Send In To Make It Worth The Fee
Each seller is going to have a different response to this question but it is worth taking the time to discuss it. Depending on which ThredUP label a seller orders, there is going to be either a $14.99 or $34.99 fee that will be subtracted from their earnings from that kit. As a result, sellers should reflect on how many items they should be sending in to: (1) ensure that the fee is covered by their earnings and (2) ensure that that have earnings remaining after the fee is subtracted. Since ThredUP allows for sellers to send up to 30 lbs. with each shipping label, sellers should take a step back and review what items will make it worth it for them to sell on the platform.
Step 3: Determine Which Type of Kit To Order
There are two kits that a seller can order from ThredUP- the standard kit and the premium kit. Each has their pros and cons and depending on what someone is selling, one kit may be more beneficial than the other.
To learn more about each of these kits, be sure to visit THIS blog post.
Step 4: Determine If The Kit Is For Liquidation or For Profit
Determining whether a kit is for liquidation or for profit will help sellers to determine which items are best to send into ThredUp versus which items would perform better in other reselling avenues. ThredUP can be a great place to send older items, especially if a seller doesn’t have the time to liquidate their items elsewhere. A seller can simply send their items to ThredUP and wait for their payout. It’s a little different if a seller is looking to profit on ThredUP, however. If a seller decides to send their items into ThredUP for profit, they will need to do research ahead of time to ensure that it will allow them to be profitable. A seller’s approach to selling on the platform will differ depending on their intention.
Step 5: Don’t Be Afraid of Returns and Final Sale Items
Many people who use ThredUP are not familiar with their return and final sale policies. Buyers have the option to return items on ThredUP within 14 days from the date of delivery of the item. If a buyer returns an item, the item is then re-listed on the platform for the remaining consignment period. Once the item sells a second time, the buyer is paid out so as long as the item is not returned again.
For any items that are marked as Final Sale on the platform, they are typically not returnable and the seller is paid out quickly for the item. There are exceptions to this rule to be aware of but for the most part, ThredUP does honor this.
I hope that you find this post helpful! If you have any questions or just want to chat, please reach out!
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