Last week, I ran an Instagram poll asking my followers, “Is it becoming harder to become a ‘successful’ reseller now compared to years past?” This is a question that I have been thinking about over the past few months as I have been preparing my business plan for 2024. The more that I was reflecting on this question, the more that I started thinking about how my own reselling journey and experiences as a reseller have changed drastically over the past 10+ years. Today, I wanted to share with you some personal insight into how my experience as a reseller has changed over the past 10+ years and how some of these changes may be contributing to the idea that it is becoming harder to be a “successful” reseller now more than ever.
What It Was Like to Be a Reseller in 2013
When I first started reselling in May of 2013, I was finishing up the final semester of my junior year of college. At that time, I was looking to make some quick cash on items that I no longer wanted; I never sought out to be a reseller, it was just something that I stumbled into as a college student. The reselling landscape was very different back then. First and foremost, there were only 2 reselling platforms that you could sell on: (1) eBay (which was an established reselling platform) and (2) Poshmark (which was a brand new company). Both of these platforms had minimal features and everything that you did on these platforms had to be done manually. Reselling information was not as readily available as it is now so you had to learn how to do everything yourself through trial-and-error, chatting with other resellers, and educating yourself on business principles (if you weren’t familiar with it already). Sourcing was also very different as there were no online consignment platforms for you to utilize and most of your sourcing had to be done in-person and in-store.
Fast Forward to Reselling in 2024
Being a reseller in 2013 was very different than being a reseller in 2024; Now, resellers have access to so many more tools and resources than ever before. If you want to start reselling today, you can easily create an account on your choice of reselling platforms, watch a few YouTube videos and/or read a few blog posts about the basics of reselling, automate your reselling tasks once you add your items to a platform, and source for new items to sell from a variety of both in-person and online shopping spots. In today’s reselling world, it is a lot easier to set yourself up for “success” right at the beginning of your reselling journey.
What Makes a Reseller “Successful”?
With the increased presence of social media in our everyday lives, it can be really hard not to compare yourself to other resellers out there. I’ve struggled with it many times and it wasn’t until I lost my previous reselling Instagram account that I figured out what being a “successful” reseller looked like for me. Each of us is going to have a different definition of what being a “successful” reseller looks like and there is no right or wrong way to define it. For some, it might mean being a part-time seller who can contribute a few hundred dollars to their family’s household income each month. For others, it might mean being a full-time seller who wants the freedom to be their own boss and pursues reselling as a career. Or maybe it is combination of the above or something different altogether.
So Is It Becoming Harder to Be a “Successful” Reseller Now Compared to Years Past?
In my opinion, the answer is both yes and no. Let me explain…In today’s reselling world, there are certain tools and resources that are making reselling easier compared to years past but there are also some potential obstacles arising that could make reselling a little more challenging than during previous times.
Tools and Resources That Are Helping Resellers To Be Successful
1) There are a Plethora of Reselling Platforms to Sell On– In addition to eBay and Poshmark, there are now many more reselling platforms that resellers can utilize to generate sales; Some popular ones include: Etsy, Kidizen, Curtsy, Depop, and Mercari. Many resellers will choose to cross-list their items to multiple platforms in order to maximize an item’s exposure. By listing items on multiple platforms, the likelihood of generating sales increases as items are being seen by different audiences across different platforms.
2) Reselling Automation Software is Available for Resellers to Utilize– Although many reselling platforms frown upon automation software, for most resellers it is an easy and efficient way to work through their numerous reselling tasks. This software is especially helpful when it comes to cross-listing items across platforms and performing the numerous reselling tasks required by Poshmark. [Note: There are some free automation services out there but most require paid subscriptions. I personally use ListPerfectly for cross-listing items and PosherVA for all Poshmark related tasks.]
3) Information Regarding Reselling Can Be Easily Be Found on Social Media, YouTube, and Online Websites– Anyone who is interested in learning more about reselling can easily do so with a few Google searches. There is a plethora of reselling information available out there and many of these resources are free and informative.
4) Reselling is More Mainstream Than Year’s Past– This can be seen both positively and negatively when it comes to helping a reseller to be successful. Looking at this through a positive lens, it is now much more acceptable to talk about reselling and everything that has come along with it. Social media has helped to change the narrative around reselling and thrifting in recent years and although we still have a way to go, it is nice to discuss this topic more openly than in years past.
5) There are More Places to Source for Items to Resell– Compared to when I first started reselling, there are so many more places that resellers can shop at to acquire inventory. With the emergence of online resale platforms, buy-sell-trade stores, consignment apps, online shopping websites, and liquidation auctions, there are endless possibilities when it comes to finding inventory for your reselling business.
Variables That May Hinder a Reseller’s Ability to Be Successful
1) More Platforms = More Competitors – With the increase in reselling platforms in recent years, there is a possibility that there could be more competitors trying to sell the same products. Do I think that there is space in the reselling world for everyone? Yes, but that doesn’t mean that down the road, there is a potential that problems could arrise as these platforms become more popular.
2) Popular Trends and Brands Are Changing Quicker Than Ever– With the popularity of TikTok specifically in recent years, it seems as though popular trends and brands are changing quicker than they did before. As a result, this can cause quite a few problems for resellers. First and foremost, it can make sourcing much more difficult. With the emergence of “aesthetics,” what is deemed trendy and popular varies weekly. As a reseller, it can be really hard to keep up with all of these aesthetics and find items that fall into these categories before that particular aesthetic loses popularity. Additionally, it is perpetuating the fast-fashion crisis; This is causing people to buy more lower quality clothing in order to keep up with these trends and in turn, making it harder for both resellers and thrifters to find quality items when shopping in secondhand stores.
3) Oversaturation of Goods in the Reselling Market- Many resellers on social media will share BOLO brands (or Be On The Lookout For Brands) in hopes of helping other resellers learn about brands whose items sell quickly and for a decent profit. Although this information can be helpful, when this information becomes repetitive over a period of time, it can cause items from a particular brand to become oversaturated in the reselling market. As a result, this can make it much more difficult to sell these items as buyers are going to be seeking out the cheapest options as all other variables are identical across listings. This will then bring down the average sales price of the item and item’s value will decrease with time.
4) Reselling is More Mainstream Than Year’s Past– Earlier we talked about how this has positively impacted reselling but now let’s talk about the negative effects that this could have on reselling as well. In recent years, social media has turned reselling into somewhat of a trend; People are seeing it on various social media platforms and are open to exploring it. Although many people do find enjoyment in reselling, others find that it requires a lot more work than anticipated once they start. As with many trends, people want to get their piece of the pie while it is hot. That being said, there has been an increase in reselling content appearing on social media. Some of this information is informative and helpful while other information is the complete opposite. This can pose a challenge to people new to reselling who are looking for trustworthy information and are too unexperienced to distinguish between the good and bad information out there.
5) We Do Not Own the Reselling Platforms That We Sell On– Sometimes it can be easy to forget that we do not own the reselling platforms that we sell on; We are simply users utilizing a particular platform to sell our items. That being said, the reselling platforms that we utilize daily can essentially do whatever they want at any time and without warning if they really wanted to. Personally, I’ve seen this happen firsthand when Poshmark decided to make an update to the search function on the platform without giving users a warning in advance. To say that it caused some reseller panic would be an understatement. Ultimately, Poshmark did reverse the change and implemented these changes gradually over time. The fact that we do not own these platforms can create a sense of uneasiness as not only can these platforms make changes at any time but they can also disappear at any time as well. As a reseller, it can be wise to cross-list your items to at least one other platform just in case something were to ever happen to your main reselling platform.
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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