One Man's Trash... Could Be Your Treasure — 3 Rules of 'Thrifty' Product Sourcing
Thrift shops and consignment stores can be an excellent supplementary source for your product inventory — they always have fresh wares to choose from, and you can find some unique items at rock-bottom prices.
Online retailers sometimes feel that these types of resale stores aren't a good place to find inventory because there's not enough of a profit margin. But Kate Holmes, author of Too Good to be Threw, The Complete Operations Manual (TGTBT.com), disagrees. Holmes asserts, "These stores have a very limited market. If there's nobody in their town that happens to want a pair of jodhpurs that week, those jodhpurs will be sitting there waiting for an eBay seller to snap them up." The end result can be amazing buys on quality items that have an online demand.
In addition to a limited market, Holmes also cites limited space as a factor in resale stores' bargain-basement pricing. She points out, "They only have so much space, so they can only carry so many things. If they can move an item on and bring something else in, they're pleased with that."
3 Rules for Secondhand Sourcing
1. Shop the Edges.
Even resale stores tend to carry certain types of products. What doesn't fit a shop's profile, they usually want to move out quickly. They tend to put these products around the store's edges, so start there.
2. Shop Often.
They're constantly turning over product and bringing in new items, so don't let a dry trip or two discourage you. Your persistence can pay off in a big way.
3. Cultivate Relationships with the Shopkeepers.
If they like you, they'll be much more willing to give you deals. They may also be more willing to set things aside for you if they know what you're looking for, and to guide you to items you might otherwise miss.
If you're just starting out, a good place to find resale stores is in the yellow pages, under either "consignment" or "thrift." Don't be afraid to ask the shopkeepers if they know of other stores in the area — if they don't have what you're looking for, they'll usually be happy to refer you to someone they think might.
BIOGRAPHY: Product Sourcing Radio is Created and Hosted by Chris Malta and Robin Cowie of WorldwideBrands.com, Home of OneSource: The Internet's Largest Source of Genuine, Factory-Direct Wholesalers for online sellers. Click Here for more FREE E-Biz & Product Sourcing info!
Thrift shops and consignment stores can be an excellent supplementary source for your product inventory — they always have fresh wares to choose from, and you can find some unique items at rock-bottom prices.
- • Consignment stores are commission-based. People bring in products for the store to sell on commission — what doesn't sell is returned to the owner.
• Thrift stores are often 'not-for-profit' and acquire most of their goods via donations.
Online retailers sometimes feel that these types of resale stores aren't a good place to find inventory because there's not enough of a profit margin. But Kate Holmes, author of Too Good to be Threw, The Complete Operations Manual (TGTBT.com), disagrees. Holmes asserts, "These stores have a very limited market. If there's nobody in their town that happens to want a pair of jodhpurs that week, those jodhpurs will be sitting there waiting for an eBay seller to snap them up." The end result can be amazing buys on quality items that have an online demand.
In addition to a limited market, Holmes also cites limited space as a factor in resale stores' bargain-basement pricing. She points out, "They only have so much space, so they can only carry so many things. If they can move an item on and bring something else in, they're pleased with that."
3 Rules for Secondhand Sourcing
1. Shop the Edges.
Even resale stores tend to carry certain types of products. What doesn't fit a shop's profile, they usually want to move out quickly. They tend to put these products around the store's edges, so start there.
2. Shop Often.
They're constantly turning over product and bringing in new items, so don't let a dry trip or two discourage you. Your persistence can pay off in a big way.
3. Cultivate Relationships with the Shopkeepers.
If they like you, they'll be much more willing to give you deals. They may also be more willing to set things aside for you if they know what you're looking for, and to guide you to items you might otherwise miss.
If you're just starting out, a good place to find resale stores is in the yellow pages, under either "consignment" or "thrift." Don't be afraid to ask the shopkeepers if they know of other stores in the area — if they don't have what you're looking for, they'll usually be happy to refer you to someone they think might.
BIOGRAPHY: Product Sourcing Radio is Created and Hosted by Chris Malta and Robin Cowie of WorldwideBrands.com, Home of OneSource: The Internet's Largest Source of Genuine, Factory-Direct Wholesalers for online sellers. Click Here for more FREE E-Biz & Product Sourcing info!
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