August is one of the best months of the year for resale – in fact, the average sale price in August is the second-highest month of the year. Parents are taking their kids back-to-school shopping, teenagers have been working over the summer and have extra money, and brands save some of the hottest drops for summertime. Sales are good right now, so here’s how to keep back-to-school sales going into fall.
1. Inventory
Having the right inventory is essential. Recently, ASICS Gel-1130s, Supreme Air Force 1s, Yeezy Slides, and Jordan 4s (Bred Reimagined, Military Blue, Red/White Cement) have been flying off the shelves, and will continue to through the fall. If it ain’t broke, don’t fix it. Keep selling them, even if the profit margin drops a little bit over time.
Additionally, New Balance always has very good colorways this time of year, and the collaborations with Action Bronson are very promising. Start thinking ahead to what will be popular in a few months, and stock up now.
2. Know Your Market
While Yeezy Slides have been selling really well this summer, if you’re in Buffalo, New York, that might not last for much longer. Nobody wants slides in the winter because it’s cold. If you’re in South Carolina, that’s not much of a concern, so Yeezy Slides are a good investment. Consider each purchase before you make it, and think about what makes your store unique. Some other factors:
Location: City (looks > comfort) vs. Suburban/rural (comfort > looks)
Sports season: Basketball shoes will start to sell more with the NBA season starting soon, for example.
Clothing: What are people going to wear for the next few months where your store is? If it won’t be cold until November, pull out the long-sleeves and puffers now, and add a discount to get the inventory moving. If it will be cold soon, charge full price.
Every store and every location should have different priorities. Just because it worked for another store does not mean it will work for you.
3. Consignment
August’s back-to-school rush is a perfect time for a store to focus on emptying its inventory; there are lots of people in-store, and everything sells quicker than usual. That means in September, inventory has to be replenished. If you’re a storeowner, this is a great time to stock up on items that consignors didn’t sell during back-to-school. The consignor wants it off of their hands at this point, so buy prices will be lower.
If you’re a consignor, this is your chance to get your bricks out. Stores need inventory, so they will be more lenient now. It’s also never too early to start getting ready for the holiday rush. Buy your more expensive pairs now and consign closer to holiday season when the stores are busy and demand is higher.
4. Get Ready for Winter.
Stay on top of your trends and sell what’s hot through the fall, but go into winter with a lot of inventory. Margins are higher and inventory moves quicker. Nobody has ever had “too much inventory” when the holiday season hits.
We’re in the middle of one of the busiest seasons of the year right now, so keep selling everything you got. You can stay one step ahead and start buying inventory for the fall now, but prioritize taking advantage of what’s in front of you – this is when the winners win.
Mateo Moyon