As an owner of four women’s consignment shops, I have a lot of experience in this business. Twelve years ago, when I bought my first shop, I remember how concerned I was about how this all works. How do you price used merchandise at the “right” price? You have to walk a fine line when pricing—you want things to sell, but at the same time, keep your consignors happy.
You can spend long hours researching how to price specific brands and items. You have some knowledge of what the retail prices might be, and you can search the internet, but it’s incredibly time consuming. You can’t always find what you’re looking for–and even then, you’re looking at retail prices. You still have to decide how to use that information to price your merchandise. It’s scary because you know pricing is key! You have to price it right.
The Women’s Fashion Pricing System from NextGen is the answer–absolutely! It will tell you how to price every item you take in by brand–from Gap to Ann Taylor to Armani! This system tracks prices using inventory sales data from a select number of successful consignment shops over a period of two years. Suggested prices are updated at least once a year and include over 4000 brands. This system is designed to suggest the best price at which an item will sell to the mutual benefit of consignor and shop.
It will help you price every item you take in as you are entering it into the Liberty 4 POS program. No extra steps or work…it’s all right there! I’ll be saying this often–I wish this had been available when I started!
More to come.
Brenda Stark