A busy season is coming up with Black Friday and Cyber Monday just around the corner. This means it’s time to boost your online consignment store sales! Shopify wrote about the importance of planning ahead for such events. Most of us judge businesses that promote a holiday way too soon but we should actually be learning from them. According to Forbes, last year’s Cyber Monday set a record of $9.4 billion in sales, compare that number to Black Friday’s $7.4 billion and Amazon Prime Day’s $4.2 billion. This means you can be one of the many consignment stores using their online resources to sell more and grow your clientele. In order to boost your online consignment store sales, you must have a presence on social media. Here are some easy ways to grow your store online.
Since we are on our phones all day long, the best way to market is to use your social media. Your posts can be pictures of clothes that can be found in your shop, a current sale, or announcing a new shipment. Get creative with it, the more you post you will start to gain traction. Promote your social media platforms by posting the name you can be found with on social media at the register. This is a time when the customers have nothing else to do except notice their surroundings. On your social media be sure to have valuable information, that will give them a reason to follow. For example, posting sales or coupons.
Speaking of free stuff, have contests, and giveaways on your Instagram frequently. First, you must choose a prize that suits the theme of your shop. Second, have criteria such as must follow your page and tag 3 friends in the comments. Make it interesting by adding that for every extra person tagged when entering they get an extra entry in the contest. Third, post this on your social media including the end date for entries. Doing this may seem silly but it’s a way to buy your customer’s love and form a better connection with your community.
We market ourselves every time we post on our personal social media which means your employees most likely have a good following of friends and family on social media. Have your employees pick out an outfit and go outside your store to have a little photoshoot in the natural light. Encourage your employee to post this on one of their platforms informing their friends of the current sales. This can also be used as a post on your store’s social media. I see this as a win-win, you are creating interesting content and also helping your staff feel more confident in themselves and their job.
Consistency is key when it comes to social media, it may take a while to see any results but get creative with it. You are moving the needle by simply posting. I have noticed that social media has become the new Google when it comes to searching for people and places. They want to see what you have to offer. Take matters into your own hands and make sure that your social media makes people want to come to check out your store!
People love to shop online, having an online option puts you in a great position. SimpleConsign’s Shopify plugin allows you to seamlessly transfer your in-store inventory to your online store. During times like this, it’s important to keep as many avenues open. Building an online platform for your consignment store is one of the strongest methods to stay afloat. Once you have the Shopify plugin you may also sell on Facebook Live; this is a fun way to reach those at home.
If you enjoyed this, you may also enjoy advice on growing a Pinterest account.
Modern-day shipping for consignment stores is in high demand. Both consignment buyers and sellers can agree that nothing beats the thrill of finding the perfect vintage piece that really ties the room together. Whether it’s a mid-century modern couch or a Victorian-era marble statue, such items are hard to come by and may never be found again.
But consignment buyers and sellers also know that this excitement can quickly wear off when faced with the logistics of safely getting such a piece from Point A to Point B at an affordable price.
That’s why uShip has teamed up with SimpleConsign, the web-based management solution for consignment shops. To provide its sellers with fast, easy, and affordable delivery options for shipping large, oversized items.
Traditional shipping options have proved inefficient for consignment sellers, leaving them to deal with high fees and high damage rates. Parcel carriers, like USPS, simply aren’t equipped for these large jobs. They often result in exorbitant, unpredictable rates. On the other hand, freight carriers can carry large items via Less Than Truckload (LTL) shipping. However, they require sellers to spend extra time and money carefully packing and palletizing items.
ONE-STOP SHOP FOR OVERSIZED SHIPPING
With uShip, SimpleConsign users get way more than just bare-bones shipping options.
uShip’s solution for SimpleConsign sellers includes blanket wrapping, home delivery, and full tracking for both buyers and sellers. Consignment store owners can also rest easy thanks to instant shipping price estimates; affordable, full-coverage insurance; and first-to-final mile service, which can result in significantly lower damage rates.
On top of these features, SimpleConsign sellers get a key edge over competitors by having the ability to choose their own carriers. Every carrier on uShip has its own profile. This includes helpful information, like reviews and ratings from real customers, cancellation rates, and transport equipment. Before booking, SimpleConsign sellers can review each carrier who interacts with their listing and communicate about the shipment in advance. Giving them the power to choose the right shipping partner for their store.
MAKE MORE SALES WITH PREDICTIVE PRICING
Though today’s buyers have never been more confident purchasing large items online, 47 percent of Americans still say that high delivery costs at checkout caused them to look elsewhere for the same or similar item. For sellers of large antiques, offering free shipping might seem impossible, but with uShip’s shipping portal, sellers can utilize uShip’s predictive pricing so they can roll the cost to ship into each item, making free shipping a true reality.
Not sure which is the right shipping price strategy for your business? Take this quiz to find out.
WHAT ARE OTHER SELLERS SAYING?
Brad Stanwick operates an online store specializing in English antique furniture. His store, The Parsons Nose, now either offers free shipping on its items, with shipping rolled into prices, or displays a flat, up-front delivery rate right on the item’s listing.
“Using uShip has been better for my bottom line,” Brad says. “I ran the numbers and figured out that I can ship my furniture almost anywhere in the country for about $250 to $300 through uShip. So, I took a leap.”
A WIN-WIN SHIPPING SOLUTION
Better shipping options for SimpleConsign users don’t just benefit the seller. With this latest partnership, SimpleConsign customers can now get the perfect one-of-a-kind item shipped directly to their room of choice. In addition, both seller and customer can have the peace of mind provided by full tracking, feedback-rated carriers, and first-to-final mile delivery.
SimpleConsign Seller Exclusive: If you’re a SimpleConsign user, check out the uShip + SimpleConsign landing page to see how you can start shipping with modern-day shipping for consignment stores through uShip today.
For a few years, before I came to Traxia, I worked as the Children’s Ministry Director at our church. I headed a team of almost 50 volunteers to teach and nurture the children. Together, we ran everything from weekly lessons to summer Vacation Bible Schools and Christmas pageants. My team ranged from teenagers to 70-year-olds. Because they were volunteers, I felt a special need to be their cheerleader. How well do you know each one of your employees? How do you build a top-notch consignment store team?
I have quirks. It’s hard to believe, I know. Do not expect anything out of me before 10 am, but know I’m still working at 11 pm. I consider myself creative, but I like guidelines. The desire for perfection is my weakness. How well do you know your consignment store team’s personalities? It makes all the difference. Recently, Hubspot published 5 types of Personality Tests to Help You Learn About Your Team. They range from an in-depth Myers-Briggs test to The 5-Minute Personality Test. Making one of these tests a routine part of your hiring process helps you hire the best candidate. For instance, The 5-Minute Personality Test breaks people into either Lions, Otters, Golden Retrievers or Beavers. Knowing where your team falls, you’ll discover if you’re running a zoo or a consignment store.
At our quarterly volunteer training meetings, I always added a few team-building games. The very fact that you play games, builds a closer team. Download each of these and give them a try!
Just as there are fun team-building games, there are also fun sales training exercises. Getting your team to practice selling should be a regular habit. Download these exercises and keep them handy the next time you do training.
If you enjoyed reading this, click here for more.
When it’s time for your shop to change seasons, take a look at some of these inventory reduction ideas. Although you don’t want to make drastic sales a regular habit, a twice or 3 times a year clearance sale is very acceptable. I’ve put together a list of 17 brilliant ideas for consignment inventory reduction. Okay, I can say they’re brilliant because I put the list together. Pick one or two and clear out the old to bring in the new.
This is your best non-sale idea for consignment inventory reduction. Try totally redesigning the look of your shop. Move racks, rounders, shelving units or anything else that will make your shop look and feel completely different. It’s amazing how just moving merchandise from one end of the shop to the other can make it more attractive to a buyer.
Hand out a grocery bag, laundry bag or a specially printed store bag to every customer that comes that day. Sell your merchandise at one price for the entire bag or bring in a scale and sell it by the pound.
Did you know that January 13 is Make Your Dream Come True Day or that April 7th is No Housework Day? The internet is filled with websites that list crazy, fun “holidays” that can be celebrated with a special sale or a whole event. Take one of the really crazy ones like Hoodie Hoo Day (Feb. 20th) and any shopper who comes in and says, “Hoodie Hoo” receive a special discount.
Reduce the price of your merchandise weekly or even daily so that by the end, whatever you have left is down to the lowest possible price. I encourage you to discount deeply the first time around. If the idea is to move merchandise quickly, start the “auction” at 40 or 50% off.
Invite only your best customers to shop the night before the regular sales event begins. Provide beverages and snacks; teach a class on furniture painting or scarf tying and offer them a deeper discount on all sale merchandise for that evening only. It’s a great way to reward faithful shoppers and take care of consignment inventory reduction.
Collect a bevy of DIY ideas and offer them along with merchandise at a discount. For instance, offer DIY ideas/classes for turning a mirror into a tray; sweaters into mittens and leggings or jars into a decorative craft caddy. There are literally hundreds of ideas to use secondhand items for upcycling. Make a night of it and help your customers see the potential.
Each week from now through the end of the season, choose particular items that receive an extra discount. For instance, every sweater or lamp is an extra 25% off. This is especially good when you want to avoid the idea of a clearance sale. Getting a deal sounds much better than buying an item during an Inventory Reduction Sale.
Sometimes customers just can’t see the potential in putting separate items together. Showcase merchandise in a tableau creating an instantly warm and cozy feel. Whether it’s a chair, table, lamp and ottoman or a sweater, scarf, boots and hat…help your customers envision the whole not just the individual. Then offer a special deal when they purchase the entire group of items.
Use attractive boxes or baskets and put together fun surprise packages. Don’t completely fill them with all of your unwanted items though. Be sure to add vintage knick knacks, colorful scarves, fuzzy mittens or unusual serving pieces. Put together all red or pink items and make mystery Valentine’s Day baskets. With lots of paper shred for filler and a cellophane wrapper, customers can see a little of what they’re getting, but not all.
There’s no better way to double your inventory reduction than by offering a Buy One Get One Free or Buy One Get One 1/2 off Sale. It’s a great way to move particular merchandise fast. Use a BOGO sale to move slow-moving sizes, colors, overstocks and even totally unrelated items.
Some customers just like to dig (I’m one of them). They like nothing more than to dig into a huge basket, tub, bin or box for the remaining items that are deeply discounted. Often, shops will have a special area in the back for sale items, but for an inventory reduction sale, make sure it’s right out front.
In seasons such as winter and summer, the weather can often be extreme. Choose a measuring point (i.e. any day below freezing, snow over 6″, sunny Sundays or windy Wednesdays) and then offer a discount accordingly. For instance, discount any item in your shop by an additional 10% for every 5 degrees below freezing. On a 20° day, customers would receive an extra 20% off.
The end cap or space at the end of an aisle is some of the most valuable real estate in your shop. Let each of your employees take an end cap and merchandise it with items that need to move quickly. At the end of the week, see which employee’s end cap sold the most merchandise and offer the winner a prize.
Give your sales staff the ability to give special discounts to shoppers during a specific week. Print up coupons that say “You choose your sale price up to X amount.” Of course, the customer will choose the X price but that was the discount you were prepared to offer anyway. It provides an incentive for an immediate sale (make sure the coupon has a place for the end date) and it gives your employees a chance to build relationships with customers.
Advertise a 60% off for 60 minutes one day only. Clearly state the day, hour (i.e. 11 am to 12 noon) and the 60% savings in all of your marketing. Make sure you print posters for your windows too. Close the store for the morning of the sale so that a crowd potentially builds outside your store. On the hour, open the door and let the sales begin!
Create slips of paper with a variety of discounts on them. Let customers choose a slip of paper at the register which will determine the discount they’ll receive. Punch up the excitement by putting one slip in the fishbowl with the word FREE on it.
Donating excess inventory to a charitable organization can offer some stores certain tax benefits. If you’re not able to take advantage of the tax write-off, consider donating your items to an event that might also offer additional marketing opportunities in exchange for your merchandise. No matter what, the community goodwill that is generated from donations is always a plus.
Overall cleaning your store of outdated merchandise is a must, read 6 tips for consignment shop spring cleaning.
Need help managing your inventory? Let SimpleConsign show you how easy it can be.
During my early years as a salesperson, our sales training involved listening to multiple Zig Ziglar tapes. That guy was the cheeriest man I ever listened to. The number one lesson I learned was to always put myself in the customer’s shoes. That person is always thinking, “What’s in it for me?” According to The Retail Doctor Blog, I’ve been asking all the wrong questions during my lengthy years of selling. Have you or your employees asked your consignment shoppers these questions?
Now, when I first read this I thought, “Well, why wouldn’t I ask that question?” The usual response you receive is “fine” which immediately ends the conversation. Plus, The Retail Doctor asked, “Do you really care?” Of course I care. Well, sometimes I care. Okay, so maybe I don’t really care, but what am I supposed to ask instead? The first communication you have with your consignment shoppers sets the tone. Vend suggests having a variety of greetings on hand. Ask, “Are you enjoying your afternoon?” If you recognize the shopper, ask “What brings you in to see us again?” Finally, try and find something you like and genuinely say, “I like your … (shoes, coat, scarf, etc.) Where did you get them/it?” I certainly love it when I’m surprised by a cheery salesperson. Or, when I hear “My pleasure” after I order my chicken sandwich at a Chick-Fil-A. So, it’s time to get more creative as you greet those consignment shoppers coming in the door.
A customer often gives the rote response of, “I’m just looking” and then the conversation is completely dead. As The Retail Doctor points out, not every shopper is looking for something but all shoppers do have a problem. Whether it’s the need to kill 30 minutes of time before a meeting, or they’re looking for the perfect dress for an upcoming event, they have a problem that you need to fix. So what questions should a savvy sales associate ask? For furniture consignment, ask “What room gets a makeover today?” For clothing consignment, ask “What special event are you shopping for today?” A children’s resale shop should ask, “Which color…pink or blue?” Make the shopper give you more than a “yes” or “no” answer to keep the conversation going. If you still get the “I’m just looking” response, try and make another connection. Ask “Would you like a basket?” or “Would you like me to hold your cup of coffee at the counter so you can shop easier?”
Although the intention of connecting with your consignment shoppers is good, you’re starting off with a negative. As Vend writes, “Every interaction should be positive.” Try instead, “Are you managing to stay dry with all this rain?” Or, “Are you enjoying all the sunshine we’ve been having?” Vend also stresses the importance of “reading” your customers. Watch their body language. Are they shy? Then, they will be uncomfortable with too many questions. Pick up on verbal cues. Is their tone angry? Find something to genuinely compliment them about. Always make eye contact.
Conventional wisdom says discounting merchandise brings in more sales. Discounting is never a long-term strategy. If you want to attract shoppers for the short term, offer discounts. These customers will leave you sooner rather than later when they’re off to find the next, best deal. To build a solid base of loyal customers, focus on creating value and setting your shop apart. Here are 3 alternatives to stop the cycle of discounting.
A Harvard Business School study determined that people are motivated by 4 different biological drives. Here are the first 2:
Most shops normally focus (without realizing it) on the first 2 drives to gain new customers and make sales. What if instead, you focused on the last 2 drives:
Discounting tends to erode the consumer’s view of your brand value. In other words, if you discount often, you are only viewed as the cheapest place to shop. Instead, charge full price and add an item or service as a bonus. Read 3 sure-fire consignment cross-selling and upselling tips. For a short time, offer a free gift with the purchase of an item. Add free delivery on furniture buys or partner with another business such as a hair salon and offer a special discount. In the mind of the shopper they are getting greater value even when paying full price. Make sure you put a time limit on the offer so that it creates a sense of urgency too.
Today’s consumer is bombarded by messages. If your marketing efforts aren’t segmented to target groups of shoppers, your message will be ignored. Get a better understanding of your key customers by using an online survey (such as SurveyMonkey’s free survey), a printed survey that you use as a bag-stuffer or even your Facebook Insights page to gain in-depth information about your shoppers and fans. Target specific shoppers with specific messages about specific merchandise they want and you’ll not only have a greater chance of making a sale, but you will be building relationship at the same time.
Sometimes, it’s the little things. Seemingly insignificant actions that make all the difference to a customer. Oftentimes, boosting consignment sales can even be pretty easy. Try a few of these and see if they don’t make a difference in your overall sales next month.
What is it that brick and mortar stores have that online retailers don’t? People! You can’t make a day of it with friends by shopping online. Boosting consignment sales starts with the right customer service. For most of you, your staff should greet everyone with a smile and a genuine “Hello!” A friendly sales staff in the right environment can increase sales by as much as 23%! However, research has shown that if you sell luxury items, “the ruder the sales staff the better the sales.” Train your staff to sell according to your merchandise and your brand.
The Whizbang! Tip of the Week #617 suggests adding a little something special to your sales experience. He sites several examples. One is as easy as the way Nordstroms hands you your purchase when the transaction is finished. They come around the counter rather than schlepping the bag over the top.
Take a good look at your Point of Sale (POS) area. Is it neat and tidy? Do you offer smaller, impulse items for sale? This is the fastest way to increase store sales. Whether you’re offering jewelry and accessories at a clothing store, wood cleaning products at a furniture store or small toys at a children’s shop, make sure you take advantage of this captive audience. Change it up so regular shoppers are always surprised. The quicker you can complete the sale, the better. Younger generations get extremely frustrated if the checkout process takes too long. Make sure you have an updated POS system that runs quickly and easily.
Consignment and resale are in a very unique position when it comes to pricing. Since most of your merchandise is used, the value is arbitrary. Brand, quality and age all determine an item’s price. Many retail stores use cost-based pricing and most experts suggest anyone selling physical merchandise should do the same. Cost-based pricing begins with the manufacturing cost of an item. Then, a range is set for the selling price. The range is referred to as the floor amount (the lowest possible price) and the ceiling amount (the highest). Value-based pricing is determined by a customer’s perceived value of an item. The perception changes according to rarity, brand name or even the amount of personal service a customer receives. Make sure your price points maximize your profit. Read 4 tips for setting correct price points.
E-commerce, at least at this point, cannot give consumers the full shopping experience. Physical contact is still the #1 advantage for brick & mortar shops. Let customers experience your store fully. Free up rack space and floor space so shoppers can move around and easily touch the merchandise. Make your store memorable with a delightful smell too. Did you know that scent is the strongest sense influencing memory recall and emotions? Emotions happen to drive 80% of decision making. Hello! Buying! When a store wants to sell its most important items quickly, they are always placed at eye level. Whether it’s shelving or wall racks, make sure you’ve placed them at a median height, 57″ from the floor. Lastly, play music that appeals to your target market. If I walk into a store and hear Chicago, The Doobie Brothers or Earth, Wind and Fire, I’m not only dancing, I am shopping!
In 2017, Forrester released their findings on the impact of customer loyalty programs. They stated, “loyalty program members on average spend $42.33 more with traditional retailers than shoppers not in a loyalty program.” Boosting consignment sales means giving back to your most loyal customers. Make your loyalty or rewards program easy to enter. The points or rewards need to accumulate quickly. In fact, one study found that if shoppers are given points when they enter the program, they’re likely to spend more in a shorter amount of time. Remember, those happy program members are often tremendous store ambassadors too. Many POS systems such as SimpleConsign have a built-in Rewards Points program. Check a box, set your values and let the program do the rest.
For as long as I can remember, I’ve loved planning events. As a little girl, I planned fashion shows and elaborate weddings for my Barbie dolls. Helping plan my daughter’s wedding was especially exciting. Although our budget was comparatively small, we squeezed every penny to create a beautiful, memorable day. Nowadays, it isn’t enough to slap a few homemade signs in the window and call it an event. A successful consignment store event takes some serious planning and a whole lot of buy-in from your staff.
It sounds obvious, but you’d be surprised at the number of store events that happen without proper planning. Yes, you have a purpose. Whether it’s to build your brand, reward customers or celebrate a holiday, you still need a plan. Sit down with a calendar. Pick a date. Choose a theme. Create a budget. Decide your marketing ahead of time. Read How to make shoppers happy with simple resale-tainment. Ideally, you should have a 30/60/90-day planning timeline that you can give your sales team and managers.
If your sales staff isn’t committed to the success of the event, give it up. Make them a part of the planning process. Brainstorm with them. Consider a contest for individual employees or your staff as a whole. If the event is a success, they’ll reap some benefits too. A truly memorable consignment store event includes enthusiastic salespeople who are having as much fun as your shoppers.
Setting your budget at the beginning keeps everything in perspective. Factor in employees, marketing, refreshments, decorations, special giveaways, etc. If you’re hosting the event at a time you’re not usually open, consider additional items such as heat/air conditioning, lights, trash and plumbing. Don’t skimp on your event budget. Customers know the difference between a well-budgeted event vs. a cheap one. Do it right or don’t do it at all.
Now’s the time to clean, paint and reorganize your store. Always “put your best foot forward” when hosting a consignment store event. Clear out the cobwebs. Dust the light fixtures. Remove the sticky notes from your cash register. Make sure your store is clean from the inside out. By reorganizing, your store becomes a whole new destination.
Building anticipation will keep your event front and center in the minds of your shoppers. Tease with emails giving hints of what’s to come. Create a pre-event contest and announce the winner on event day. Tie in with a local celebrity. Give shoppers hands-on activities to do. Let customers see the exciting merchandise you’ll be giving away.
In addition to sending emails and stuffing shopper’s bags with flyers, get creative. Build a landing page on your website with a countdown calendar. Choose your #1 customer and reward them with a photo shoot that promotes the event. Add some curbside extras like sandwich board signs or chalk art. Buy your staff T-shirts with the event logo on them. Create Instagram Stories that give behind-the-scene preparations for the big event. Create a special hashtag. Read Are you using consignment store hashtags correctly?
Even though your event should get attendees shopping, refrain from pushing merchandise. Look at your event as an investment in future customers. The goal for your staff is to become a friend rather than being a salesperson. Enjoy the day. Mingle with event goers. Gather as much information as possible on everyone who attends. Hire a photographer. Use music, food and activities to create a fun atmosphere. People will remember you for the experience not the great deal that got on a sweater.
Immediately following the event, keep your attendees updated with fun photos of your crowded shop. Include a thank you to those who participated and pictures of any prize winners. Ask customers to tag themselves in your photos or encourage them to post photos of their own from your store event. Read Customer content is the best way to promote yourself. Get as much feedback as you possibly can. Don’t be afraid to ask if shoppers liked the prizes, discounts, food, entertainment, etc. Find out as much as you possibly can so your next consignment store event will be even more memorable.
For more on store events check out these links
In a Fashionista article, the International Trademark Association declared $460 billion worth of counterfeit goods were bought and sold last year. Counterfeit handbags, known as “super fakes” or “Triple-A Fakes,” mostly sell online. The article reveals, “In earlier generations of fakes, one could simply look at the color of a leather handle, the type of metal used for the hardware or the lining and know instantly that it was counterfeit. Now that you can find knockoffs made with the same, or nearly identical, materials, as the real thing, that process has to be much more complicated and nuanced.”
The stories people tell when trying to sell or consign a luxury handbag run everywhere. “My boyfriend bought it for me, but we broke up.” “It was my grandmothers and she only carried authentic bags.” Even when a receipt, box and dustbag are present, there is no guarantee the bag is authentic. With the holiday season upon us, counterfeiters are banking on your lack of authentication knowledge to increase their sales. Plus, well-meaning consignors may unknowingly try to consign a counterfeit bag. If you are utilizing Entrupy, however, it will be Happy Holidays for all!
Luxury branded handbags are one of the biggest sources of revenue for a consignment store. Knowing the difference between authentic and fake can mean hundreds or thousands of dollars. Imagine if a potential customer brings you a gorgeous Chanel flap bag which could net you at least a $1,000. Are you going to turn it away because you’re not sure? Are you going to accept it on consignment and spend the next 5 hours on Google trying to authenticate yourself? Or, take photos, email them to an online authentication company and hope they know what they are doing? Sometimes, you can wait anxiously for 2-3 days before receiving a response. Spending hours trying to authenticate a bag is no longer an option.
Turning money away was never in your business plan and it shouldn’t be now. But, if you’re unfamiliar with certain luxury brands or styles, you really didn’t have an option, until now. By utilizing Entrupy to authenticate luxury handbags and small accessories, you now have control of the authentication process. Luckily, you will know in minutes if an item is authentic or not. This will not only free up your time but more importantly, by including a Certificate of Authenticity from Entrupy, those bags are going to sell faster and for more money.
Recently, Entrupy launched a partnership with SimpleConsign. We’re pleased to offer our authentication device for SimpleConsign users at a 50% discounted set-up fee. This new partnership will allow you to grow your luxury footprint. With Entrupy, your store becomes the only place in your community to sell technology-driven authenticated luxury handbags and accessories. In addition, by offering authentication as a service, you create a new revenue stream for your business.
Learn more about this unique partnership at: SimpleConsign Partners
There’s a lot of buzz going around lately regarding split payments, especially because so many businesses prevent them. A split payment is when a customer pays with more than one method of payment per a single transaction. The most common split payment is cash and the remainder on a card. But, the most sought-out type of split payment is when a customer can pay with more than one card per transaction.
Many large retailers, including Amazon and Target, do not allow multi-card transactions. Often, it’s due to security regulations they have applied across the corporation. Or, they want shoppers to use gift cards as a secondary payment method. But unlike large retailers, the average, small brick-and-mortar business has a great advantage: The ability to offer split payments.
Think about it: Split payments mean less credit card processing fees to a singular card brand. They can also encourage the customer to spend a little extra. For example, maybe their spouse would notice a $100 charge on the credit card, but not notice $50 on one and $50 on another. Aside from customers hiding payments from their significant others, many might prefer this method from a financial standpoint. Maybe they only have $50 to spend on their debit card, but REALLY want the jacket they found. They are then able to put the remaining balance owed on a credit card they can pay off with their next paycheck.
In the world of consignment shops, antique malls, thrift stores, and upscale resale, it can be hard to sell an item with significant value. For example, if your average item costs $25, but you have a collector item worth $250, you may have a hard time getting your average customer to pay ten times the cost they normally spend. BUT – the ability a customer has to pay with more than one card might be a game changer. They might see distributing that large cost among multiple credit cards is a good idea. In contrast, you have the customer who may not have the financial means to pay for something they desperately need. Imagine Wendy, a single mom of three, visiting a consignment shop to buy back-to-school clothing. She doesn’t have a lot of money to spend, and the only jeans she found in her son’s size were out of her price range. By giving her the ability to pay with split payments, the store is relieving a huge burden on her shoulders. She’s now able to provide for her children.
Thanks to SimpleConsign’s new partnership with FortisPay, the integration allows SimpleConsign users to accept multiple cards per a single transaction. This is not only convenient to customers, it’s something that not every retail software is capable of. This integration sets your store apart from the competition and will continue to boost sales and drive foot traffic.
Benefits of the FortisPay integration include:
You may learn more about this new and unique partnership at: learnmore.fortispayments.com/simpleconsign/