Stay on top of trends: To make it as the owner of a
consignment shop, “you have to be aware of what’s going on around you at
all times,” Kallenberg advises. That means noticing trends and reacting
to them as quickly as possible.
Take care of your consigners: Although providing
top-notch service to customers is vital to succeeding in this particular
industry, says Thompson, it’s just as important to “serve your
[consigners] well and make sure their experience is positive.” That
includes paying them on time, providing them with an accurate inventory
and “ensuring they have all of the information they need to be
Know your clientele: “You really need to get to know who
your customers are and what they want, so you’re not stuck with a bunch
of inventory that doesn’t move,” says Sam Levine of Fury Extraordinary
Women’s Consignment in Seattle.
Spend some money on advertising: Kallenberg has become
well acquainted with that word since she took the reins at Finders
Keepers more than a decade ago. “I have always spent money on
advertising—from newspaper ads, to billboards, to television,” she says.
Not only that, but “whenever I reduce the advertising budget, I
eventually can tell it in sales, [and] whenever we start a new campaign,
I notice an uptick immediately.”
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