I opened my first resale store in 2001 and even today “price” is still the most popular topic of conversation within and about my stores. The comments about price are as varied as our selection and usually say more about the person making the comment than it does about us. Any given day we can hear 3 different opinions about the same pair of Michael Kors shoes that we have priced for $29.99. Customer # 1 is looking for that brand in that size and says “wow what a great deal, I was going to pay $99 new for those new”. Customer # 2 looks at that same pair of shoes and says “wow, $30 for a pair of used shoes, I could get 2 pairs of new shoes at discount store for that price”. Customer # 3, the consignor, says “I wish they could price and sell my shoes for more than $30, but I’m happy to have a little something back for them since I’m not using them anymore”. In an ideal world we want all three of these customers to be happy with us. We want everyone to enjoy and appreciate the service that we offer.
Customer #1 enjoys our store and understands what we do and why. She comes in often and is happy with us and our prices (and our monthly discounts & events). Customer #2 generally doesn’t care about the differences between Michael Kors and a discount store brand. Customer #3, our consignor, knows that we set the price to get as much for them as the market allows and appreciates that we offer the service so their stuff doesn’t go into a landfill.
So…How do we set our prices? The short answer is market value. The definition of market value is the amount for which something can be sold on a given market. We know our market, we know who buys from us, we know what they buy, and how much they spend.
The long answer is more complicated
- We look at brand, age, fashionableness, sales history of like items, time on the sales floor, and condition.
- Not to mention the factors of supply, demand, season, weather, or location.
- We follow trends, we know the original retail price of any given item, we know how other stores discount their items, we check the sold listings on e-bay and other websites, and we pay attention to the things our shoppers are telling us (verbally and non-verbally).
- We look at the bottom line, Once ‘n Again is a corporation set up to make a profit. We pay for our inventory just like any other for-profit corporation. This makes us different than a non-profit thrift store that does not pay for its inventory.
- We price our items to get the most we can, in our market, for our consignors (the customers that bring in all that awesome stuff for us to sell).
- One of the reasons that we are successful is because our consignors are happy!
Right now, we have more consignors and items to sell than we have ever had. We also have many happy customers buying from us, each year we sell more than the year before. We hope to always be able to have the “price” conversation, it means that fashionistas still care about us and are consigning and shopping with us. Day after day–year after year, we serve tens of thousands of customers and consignors that are thrilled with us and really enjoy our stores. We are equally thrilled and thankful!
A little more about us:
At Once ‘n Again we can help you find the wardrobe that you love while saving you time and money. Consign those items that you are not loving anymore & shop for the clothing and accessories that make you feel confident and beautiful.
Once ‘n Again has locations in Pontiac and Fairbury, IL. We sell and consign clothing for your entire family (all sizes/genders), handbags (designer too), shoes, & jewelry. In Fairbury we sell all those things listed plus books & home décor. We no longer sell furniture.
Our Customers LOVE these brands: Tory Burch, Kate Spade NY, Talbot’s, Coach, Calvin Klein, Michael Kors, Gap/Gap Kids, J Crew, Lane Bryant, Mud Pie, Silpada, Joe’s Jeans, Brighton, Miss Me, Dooney & Bourke, Patricia Nash, American Eagle, Nike, Adidas, The North Face, Under Armour, White House Black Market, Eileen Fischer, Banana Republic, Athleta, Hunter, UGG, Steve Madden, Frye, Nic & Zoe, Sam Edelman and more.
The brands listed above and ones like them are brands our customers ask for and buy.
Shop in Fairbury or Pontiac from 10am-6pm Tuesday thru Saturday!