Do you want to earn some extra cash? You might have some items at home that you no longer use, such as clothes, accessories, or even electronics. Instead of having them lying around and cluttering your house, consider selling them online. The online selling industry has boomed with the rise of social media and numerous shop applications. Now, even amateur entrepreneurs have a chance of competing in the virtual global marketplace.
If you’re feeling troubled about online transactions, push those worries away with Maya. A world-class leader in the Philippines when it comes to cashless payment solutions, Maya strives to help people streamline many of their financial transactions. Take the plunge and earn that extra cash now! Here are some tips to help you get started.
1. Sell Your Items on Social Media Sites
Finding a market for your pre-loved items has never been easier; you just need to go online. According to a study entitled Digital 2019: Global Digital Overview, Filipinos are the top users of social media in terms of time spent online. In fact, the average Filipino spends over ten hours using the internet each day. Additionally, more than 40 million Filipinos are Facebook users, not counting other social media platforms. From these statistics alone, you’ll know that you have an endless pool of potential customers who can provide a new home for your pre-loved items.
2. Consider Making a Separate Account or Page for your Store
A lot of sellers often wonder about making a separate account for selling their wares. There are certain pros and cons that you can weigh in on before making a choice.
If you plan to use your personal account, it can be beneficial in that you can readily connect with potential customers, like your friends, relatives, and other people who follow you. However, you might find it difficult to make a clear distinction between your personal and merchant content. For example, your message box will likely contain both inquiries from customers and personal messages from friends if you choose to do it this way.
On the other hand, creating a new account helps you set a clear line between personal and merchant content. Additionally, it’ll help your customers browse through your offerings without stumbling unto your personal tweets or posts. However, you’ll have to invest more time in building your following when you open new online accounts just for your business. A lot of users overcome this by promoting their page on their personal accounts or by employing the platforms’ paid online advertising tools.
3. Use Third-Party Apps to Sell
There are several applications that seasoned and aspiring merchants can use to sell their items online. Some of the most popular ones in the Philippines include Lazada, Shopee, and Carousell. These applications have distinct features meant to enhance your merchant experience, including setting price tags, adding discounts, and even helping you set delivery methods.
One of the key advantages of using these apps is access to a readily available customer base. Thousands of people use these applications every day, and all of them have specific items they want to buy. Using the proper names and descriptions of your items can increase the chances of customers buying from your store.
4. Do Your Research on How to Price Items Properly
You’re not the only one looking to sell their pre-loved items online. The online community is a hub for resellers, small merchants, and big companies alike. How you price your items is crucial to determining whether you sell or not. Price your items too high, and people will most likely not buy. However, price your items too low, and it will likely chip away at your profits.
The key is to research the current prices of the products you intend to sell. Check the retail prices in stores, and also check the prices offered by resellers like you. For example, you may have bought a popular novelty item two years ago, but now, it is no longer as popular. You check the retail price and find out that the cost went down by half. You now know that you need to price your item lower than the current retail price of the product in order for you to have an easier time selling it.
You also need to categorize your items between depreciating items and valuable items. Clothes, shoes, bags, and similar items often lose their value over time. The costs of vintage pieces and collectibles, however, often rise as the years pass by. Make sure to differentiate between these two types of goods to maximize your profits.
5. Make the Most of Online Cashless Transactions
Whether you’re using social media or a third-party application to sell your pre-loved items, Maya is here for you. The traditional practice of going to the bank or remittance center takes too much time and extra money. With Maya, however, you can make transactions a lot faster and easier.
Maya allows users to send money directly to another Maya user or to their bank account. Customers can pay you in real-time and receive an SMS once the transaction is completed. You can check your account online and confirm you have received the payment for your item.
Overall, if you’re looking to sell your pre-loved items online, there’s no better time than today. You can take advantage of social media and third-party applications to reach a large customer base, and you can also conduct safe and reliable transactions online with technological solutions like Maya. Simply download the Maya application from your gadget’s application store, and use its tools to gain access to a whole universe of opportunities that can help you make more money online.
