Which items should your charity list and for what price?
Your shop is full of things that people want, but you can’t list all of them online. So how do you know what to list? And once you do, how should you price them?
To answer these questions, you need to engage in research. You will have your own (anecdotal or formal) findings on what sells well in shops and that can be a good marker, but listing items for re-use on ecommerce sites such as eBay, Etsy and Shopify may throw up different trends entirely.
When it comes to pricing, you need to think about not only how much you’d like to get for your item, but how you’re going to sell it. Should you auction it to the highest bidder? Or set a fixed price?
There’s no generic ‘right’ answer to these questions but with a little research you can turbocharge your online sales power.
How to research which items to list?
The best market research comes from looking at the market. Obvious, perhaps. But watching what other people have sold on ecommerce will give you an idea of an item’s value and saleability.
So if you search, say, eBay for similar items, what do you see?
How to research standard items?
If it’s a standard item – CDs, books, gadgets – you should get a pretty good idea of what it’s worth and if it’s worth selling online. You might remember the Swansea branch of Oxfam imploring its donors not to leave any more copies of Dan Brown’s The Da Vinci Code. That’s because a glut of books everyone’s already read isn’t worth much to a charity. If everyone else on eBay is selling the same thing at rock bottom prices, will it be worth the time and admin to list it? Probably not.
The good news (for charities, not publishers) is that not every book is a Harry Potter/Bridget Jones/Da Vinci Code runaway success. Away from the bargain bin, there are plenty of reliable sellers in good demand. The same goes for music, films and fashion.
The latter – fashion – is notoriously hard to gauge. Thanks to headlines about the textile industry’s ethics and impact on the environment, buying pre-loved clothes is rapidly becoming the ‘done thing’. Prices for high street goods vary but our internal research at Shopiago suggests that the current sweet spot in the market is top-end high street or lower-end designer goods. The more the clothes are deemed too expensive on the high street, the better they tend to sell in online second-hand marketplaces like eBay. Expect well known brands such as Burberry to fetch premium prices. But do your research on the labels you have in your stockroom to see what’s worth listing online.
How to price standard items
Shopiago has a tool to help assess the value of goods for resale - but trust your own observations as well. Where you’ve got a standard item to sell, you can set a fixed price (at or near the going market rate). And if you have the administrative resources to negotiate – allow offers. But make sure your pricing is justifiable. If you price every top at £9.99 regardless of whether it’s from Primark or Mint Velvet, you risk undermining your reputation as a trusted seller.
Selling and pricing rare or unique items on eBay
If you’ve got a trove of hard-to-find items to sell, you’re unlikely to find much guidance on pricing and you may have to trust your gut to decide whether your stock is worth listing. This is where running your items as auctions is useful. You can set a reserve to ensure you don’t sell for less than you want to, and relist your item automatically if it doesn’t sell the first time around. You can also tweak pricing when you relist.
Our article on 'Spotting trends when selling online' will help you list your rare and unique items at a time when they’re likely to sell quickly and for the best prices.
Which items shouldn’t you list on eBay?
There are some items you should not list on eBay, and not just prohibited items. You should check a brands’ ethics don't conflict with your charity’s cause and be wary of selling items that may contain propaganda, such as military paraphernalia and relics.
Can timing an eBay listing help you sell an item?
Finally, don’t underestimate the power of timing on your ability to sell items, and achieve the best prices, especially for auctions. You can look at seasonal trends (who buys a winter coat in August?), times of the month (most people get paid in the final week), weather patterns (people are more likely to browse their computers, tablets and phones indoors) and times of day (which can vary by product type).
Generally, scheduling auctions to finish in the evening gets better results, and Sunday evenings are a popular option. Shopiago can automatically push listings through in the evenings, saving charities the added burden of scheduling fees for online listings.
Shopiago has data to help with all the above, but a little research can give you an edge, leading to better sales and higher prices.