If you want to start selling on Ebay or Amazon, it might seem overwhelming with everything that has happened this year. I am hear to let you know that is still possible to buy and sell items, and make a profit. You might have to get a little more creative in your sourcing methods, but it still possible. I am happy to share with your my top tips for reselling in 2020.
How to Get Started with Reselling
It doesn’t take much to get started reselling. You will need some supplies, but you can get by with mostly free shipping supplies until you earn a little money.
As far as inventory goes, you probably don’t need to buy anything. Start by looking around your house to find things that you’re not using. Look them up on ebay and see if they are worth selling and desirable to other people.
Shipping supplies can be a roll of packing tape, a few manilla envelopes or bubble mailers and some recycled boxes. The post office also offers free supplies for Priority Mail.
After you’ve found some inventory, gathered shipping supplies and researched the value of your items, take a moment to get familiar with how shipping works.
All that is left is take great photos and create a listing. You got this!
Tips for Success in Reselling
- Be open to all types of sourcing opportunities.
- Network with other resellers in your area.
- Learn how to negotiate.
- Be consistent in listing new items.
- Research new items and categories that you have never sold before.
Common Questions About Reselling in 2020
How has reselling changed in 2020?
As I type this, we are in the middle of a global pandemic. Though some places of business are opening back up now, many of them are still closed and have been for months.
Because thrift stores are closed or open with a limited capacity, and people aren’t really having garage sales, sources opportunities aren’t what they once where. Not everyone gets their inventory at a thrift store though. There are lots of other places to find stuff to resell.
Certain items have become very valuable, like gym equipment, because the gyms have been closed.
People need different things. You just have to find things that people need or want while at home.
What are the best items to resell for a profit?
The best items to resell always meet two criteria: 1) low cost to the seller and 2) desirability. What something wants or needs at one time is going to be different than another. The market is fluid, so just keep that in mind.
Here are a few things that sell well most all the time:
- video games
- clothing & shoes (especially sneakers)
- sports equipment (varies by season)
- kitchen appliances and parts
- auto parts
- plush toys
Where can I find inventory if the thrift stores are closed?
It’s going to be harder, but not impossible to find inventory when nothing is open. There are lots of resellers who never go shopping at thrift stores.
List of possible sourcing locations:
- your own home
- friends and family
- big box stores (both clearance and regular priced items)
- other resellers
- local apps like Facebook marketplace
How do I organize my inventory?
This is the most important part of reselling. Really. I am not even lying.
If you’re going to make reselling a thing, you want to be able to find your sold item quickly. If you are working from home with kids, being able to pull orders quickly is so very important. You need to find anything you’ve sold within 30-60 seconds.
You can’t afford to spend thirty minutes searching for a single item because you can find it, or worse, have to cancel the order because you lost something. Cancellations hurt your seller account. You don’t want to make it a regular thing.
The easiest way to keep your inventory organized is to organize it in bins that are numbered. Put the bin number in the custom sku field in your ebay listing.
What supplies do I need to get started with reselling?
Other than inventory and a box or shelf to put your inventory on, there aren’t too many things you’ll need.
Oh, a computer, printer & the ebay app are a must!
You’ll need a few other items like:
- a postage scale
- some packing tape
- basic shipping supplies (bubble mailers, free USPS shipping supplies, etc)
Can you sell thrift store items on Amazon?
You can! Lots of people sell new and used electronics, books, video games, etc on Amazon all the time.
It’s a little trickier with Amazon because you’ll want to make sure to package the item separately (all parts together and in a plain box). Amazon also takes a larger percentage as far as the fees go but they have a larger buying audience and your items could sell for more. It evens itself out.
You don’t have to actually send your thrift store item to Amazon to sell them there. You can list the items and ship them yourself. This is Amazon Merchant Fulfilled Program, and it can be highly profitable for you.
The Last Thing You Need to Know about Reselling in 2020
The most important thing that you can do to be successful in reselling is to show up for your business every day. This means listing every single day. I’ll say it louder for the people in the back.
You have to show up EVERY SINGLE DAY!
Online platforms like ebay, Poshmark, Mercari, etc. all have an algorithm, and though no one really knows how the algorithm works, we do know that it does have something to do with consistent activity.
What is activity? It can be printing shipping labels, updating prices, listing new items, sending stale items to auction, and much more.
Let activity be your best friend! You’ll notice an increase in your sales.