Monday, June 3, 2013

How Do I Price My Clothes?

We are so excited with all the new consignors who have registered this past week! We cannot wait to meet everyone!

A lot of our consignors are "first timers" and the question we hear most often is, "How do I price my items?" At first it might feel overwhelming and tricky, but once you get the hang of it--it's a cinch!

We created this handy Pricing Guideline Chart** to help in the process...remember, it is JUST a guideline. YOU pick your prices.

Here are a few things to keep in mind...

1. When pricing, ask yourself "What would I pay for it?" Often times a dollar makes a HUGE difference. We would definitely buy a shirt for $4, but $5? Maybe not. If you really want to sell your items, that dollar is definitely worth it (you won't have to bring that item back home!)

2. Rule of thumb--$10 seems like a fortune! Try not to overprice your items.

3. NWT- Wow, you have a beautiful item w/ the tags still on, you can price higher, but not too close to the retail. Customers have to feel like they are getting a huge deal. If you price too high, you WILL NOT sell.

4. Designer/Boutique? Did you pay a lot for an item? Mention it on the tag (i.e-retail $79). Customers might not be familiar with your brands--put the info on the description, then the customer will know what a great deal it is!

5. STRONGLY CONSIDER Discounting. Yes, it is optional, but it is your last chance of selling your items. Many shoppers come back on Sunday and buy just the discounted items.

Ebay and Craigslist are both great resources for finding what items are going for online. Visit clothing websites to get the retail on your items. For example, visit Gymboree.com to see how much your sweater would be new (if you don't remember) and then write it on the tag.

We are here to help. Please let us know if you have ANY questions---Happy Tagging!:)

**We will be creating Pricing Guidelines for Baby Gear too!

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