Recently, on our Instagram, we discussed whether consigning only high-ticket SKUs (Travis Scott’s, for example) is the best way to consign sneakers efficiently. Traditionally, the best way to make a profit has been aiming for high quantity, and marginal profits will add up to make the consignor more money.
One Copyt user and Elevate Consulting member, Daniel (@beeskneeskicks), brought a new method to our attention, though.
Daniel only targets the most expensive sneakers, makes more on each pair because of the higher price, but only consigns a fraction of the quantity he did before. Daniel not only makes the same amount of money, but has many less expenses and pairs to keep up with.
Let’s dive deeper, though, because if every consignor did this, it wouldn’t work.
An integral part of Daniel’s strategy is becoming the go-to guy for a consignment store. Any time a customer comes into Daniel’s partner store looking for a high-ticket item, the store goes to him to track it down. In return, Daniel gets more business, and more profit per unit.
So, while Daniel may make $100 for one pair and you make $100 for five pairs, switching to this strategy must be done correctly. High-ticket items are less in-demand, so finding customers is difficult unless you are the go-to man for a store.
In an ideal world, there is the possibility of becoming the go-to guy for high-ticket items for a store while also maintaining quantity of lower payout items. That’s difficult, though, because you either commit your time to one or the other. If you decide to make the switch to high-ticket consignment,it’s in your best interests to maintain low payout items to keep a security stream of income. Especially at the beginning of your switch.
And of course, use Copyt to conduct your consignment, because it will streamline consignment on both the store and the consignor’s end.