To be effective in sales, you must maintain a tight leash on your business regardless of the field. Competition is always fierce, and consumers are becoming more aware. As a result, the reseller must be well prepared to deliver exceptional service, demonstrate their differentiation, and maintain good relationships with customers.
The LegitGrails authentication service helps luxury resellers achieve growth by verifying their stock, enhancing performance, and improving customer satisfaction as a result!
So many people go into the business of reselling without enough knowledge and make some common mistakes. Read carefully and remain on top of what you should avoid if you want to be successful in the field.
Mistake #1: Checkout Process Is Difficult
Most people prefer online buying because it is more convenient, and as a result, the customer should not encounter any difficulties while purchasing on your online site. The following are some common checkout process stumbling blocks:
- Unknown shipping / handling charges
- Unknown taxes
- Mandatory registration
Solution: Review your checkout process to check for any discrepancies and ensure there’s no hidden fees or complications. There should not be any hidden shipping charges or extras in a bill.
Mistake #2: Accessibility
With the online selling rapidly expanding, the majority of consumers are conducting their searches online. As a result, you would likely begin receiving requests within hours of publishing an ad online. This may go without saying but, consumers would like to see the product that you're selling. Making your products difficult to access will have a significant impact on the price and image associated with it.
Solution: A serious reseller must make it easy for potential buyers to view the product and should upload clear and high quality images of their luxury products. It may also be beneficial for a reseller should update its online store according to the new trends. LegitGrails can help you verify your trending luxury items to ensure you’re providing the highest quality items to your customers.
Mistake #3: Responding Too Slowly
Business evolves quickly, and most clients explore multiple solutions to their problems. You could lose a sale if you don't keep up the pace. Slow response time is the fastest way to terminate a trade and decrease your conversion rate (CR) decreases. The conversion rate is calculated by taking the number of conversions and dividing that by the number of total website page visitors.
Solution: It's fine to inform your consumer that you're busy at the moment, but never delay in responding altogether. With resale items like clothes or bags, items go quick, and customers typically aren’t waiting around for a reply. The faster you respond, the more likely you are to make a sale!
Mistake # 4: Putting the Emphasis on Price Rather Than Value
Customers buy based on value rather than price. You are locked in an illusion if you believe that the price will sell the product. First, relying mainly on low pricing, offering discounts here and there, and distributing special promotions can only provide you with immediate but not long-term gratification – bargain hunters. This customer will buy from you but will go as soon as someone else offers a better deal.
Second, even while the price is usually a significant issue, and almost all buyers seek lower prices, they will not buy a product simply because it is inexpensive. They will purchase a product that is useful to them. If this value is significant, all customers will pay a higher price.
Solution: Price your products based on the value it’ll have your customer’s life. Remind the prospect that buying cheap typically results in poor quality. Be sure to market your items this way as well.
Mistake #5: You Aren't Explaining What Problem You're Solving
Some marketing advice, such as framing your product as the customer's need, also applies to resellers. Prospects must understand why, among the products available, yours is the best and most cost-effective. In most cases, customers have already researched what they want or need before contacting you. Hence, the typical one-pitch-fits-all approach is no longer effective.
Solution: If you want to persuade individuals to buy your goods, emphasise the benefits of a product or service. Rather than highlighting the added value of the goods, present your offer as something that a potential customer will miss if they do not make a purchase. You can do this by setting the scene in the item description as “the perfect luxury bag to hold your must-have belongings on a night on the town!”
Mistake #6: Failure to Compare Your Products to The Competition
Chances are, the luxury items you are reselling have competitors on the market. It would help if you persuaded the prospect of why you are superior to the competition and suggested your Unique Selling Point (USP), such as the authenticity of your stock!
Solution: Use a digital authentication provider like LegitGrails to first verify the authenticity of your luxury items for yourself. Then, use the NFT authenticity certificate provided by LegitGrails to build a trusting relationship between your existing and potential clients. This will help you boost sales and stand out amongst competitors, the NFT authenticity certificate also provides royalties from all the subsequent sales!
Avoid these 6 common mistakes and you’re sure to have a successful reselling business! Keep in mind it’s also important to avoid the following:
- Poorly photographed images when listing your items for sale online
- Not verifying the items you are reselling if they are luxury items
- Pricing your items incorrectly based on their value
- Advertising your items poorly
Be sure to reach out to the LegitGrails team to discover the partner possibilities. This will help you ensure you’re providing the highest quality luxury goods to your customers!
Grow your Business with LegitGrails