Throughout the year, I like to clear out my older, stale inventory. This allows me to make room for better items that are in higher demand and will sell much quicker. Honestly, I enjoy clearing out older inventory. It allows me to reflect on my previous year’s purchases and make a mental checklist of items that I would not buy again. Today, I thought that I would share with you a few ways that I am able to move through this inventory and make most (if not all) of my money back.
Method #1: Run a Closet Sale/ Drop Prices
This is my first go-to method when it comes to trying to clear out older items. Usually, if an item has enough likes built up, dropping the price on the item will typically do the trick and it will sell. You can also run a closet sale and see if that allows you to sell through some of your inventory. Closet sales are great because they allow you to sell a lot of inventory at once, especially if people bundle sale items together.
Method #2: Bring Items to Buy-Sell-Trade Stores
This is usually the next step that I will take after running a closet sale and/or dropping prices. I am very fortunate in that I live in an area that has a TON of buy-sell-trade stores to choose from. If one store doesn’t accept something, then I can easily take it to another and try to sell it there. When preparing items to sell items to stores such as these, I always make a list of what items I am bringing to each store. I try to be as targeted as possible and bring items that I am confident fit the aesthetic of the store. That increases my chances of the items being accepted. Once they are done processing my items, I will remove the items off of all reselling platforms. Please note that using this method will probably result in an even payout and that you will not be profiting off your items.
Method #3: Send Your Items to ThredUP
ThredUp has created quite a stir in 2020 and many resellers don’t want to send their items to ThredUp anymore. Personally, I continue to use ThredUP for reselling but it has now become a last resort method for me. Any items that I am not able to sell through the previous methods, I send to ThredUP. Once ThredUP receives the items, I leave the prices as they are and just wait it out. I’ve learned that if you don’t adjust prices, that you can actually sell many more items. On my last box, I sold almost all of the items in less than 30 days. Did I lose money? Yes. But I was able to recoup enough that I can use towards better merchandise down the road.
To Learn More About Running a Poshmark Sale, Click HERE.
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