New Pricing Guide for Consignment, Resale and Thrift Items
Now you and your employees will be able to easily describe new and used items and press one button for suggested prices. Try it for free for 7 days. Get the Free Demo!
Design Your Pricing Guide!
Check the following options to describe your merchandise and press the Send Button to submit your suggestions.
Mention the Pricing Guide by copying and pasting this URL into your forum and blog comments: https://www.bestconsignmentshopsoftware.com/how-to-set-consignment-prices.htm
Pricing Strategy Guide
How to Determine Best Consignment Prices
These are the procedures followed by one experienced shop owner:
Identifying Items to Be Donated
When items are brought into the shop, consignor tell us if they want to donate or not. I know a lot of other shop owners don't recommend that but for me that is the only way. I explain the options to them in detail and then they choose.
Consignor Agreement and Acknowledgment
The Consignment Agreement can have 2 options: Donate or Pick Up.
We have an intake form with options to circle size, color, types of items – so it is pretty fast write up. Once that is completed we enter the items in our Best Consignment Software database.
Printing Donate Tags
If the items are to be donated, in the software program under Configure Bar-Code Appearance, change the tag color to green (or whatever color you use to designate items to be donated). Non-donated items may be printed on any other available label color.
The first line of the bar-code label contains our shop's name which can be the shop's name or any information you wish. If you don’t use bar codes you can set a special code up in the software configuration that will put that on the other labels automatically.
Next, enter the items into the program database and print the labels. Attach the labels to the items and now it's readily apparent which items are to be donated.
Tracking Item Status
When they bring items in, whether it is the first time or the 6th time I have post-card size card for each consignor with name, date and a place to initial for donation. If they change their minds we have this as a record. This card follows the items all the way until they are on the racks and then they are filed by end dates.
On the back of the card, for shop reference we have names and consignor IDs written in large letters and pin them to clothes with clothes pins so they are easy to find.
The card also contains check boxes for tracking the progress of each item - needs to be written up, waiting on labels, needs to go out, etc.
The card may also contain:
- In date
- End date
- starting # _ -
(This helps in recording items and knowing when to pull them.)
- Do they donate? Yes / No
- Did we have any NTYs? Yes / No
- Did we store any for the next season? Yes / No
Now the items are ready to go out on the racks.
Notification of Donation
You might wish to give consignors a second chance to change their minds and pick up their unsold items by sending a postcard or letter notifying them that their end date has been reached and that they have some additional time. Specify a date by which they need to contact you and let them know that on or after the extended date, their items will be donated.
This seems like a long process but it really isn't. It is much better than not knowing what is going on without looking at each tag and a list of do’s and don’ts or holding items until consignors come in and then worrying that someone might have had a change of mind.
Comparison: Compare Software Prices