Selling online can be a fruitful venture if you arm yourself with enough knowledge about the ins and out of business. Even before the unprecedented time that we have right now, the online business world has existed and made an income for many sellers. Now that online selling has become much more popular, marketplaces have gained momentum. Buyers who are always on the lookout for the best deals have exploited online shopping, and many sellers have discovered making money in the comforts of their homes by online selling.
Over time, marketplaces such as Poshmark, Mercari, Depop, eBay, and many other platforms, including Vinted have gained thousands and thousands of users who share the same passion for shopping, not just brand new items but also used or second-hand goods. While the number of potential buyers is unlimited, the competition for sellers is undoubtedly palpable.
We know how challenging it is when you see tons and tons of listings across many marketplaces, which can drown your listings if you don't do something about it. Hence, you must use appropriately executed strategies to help your business. Not only does it aid to boost sales, but it also benefits the business as a whole. Helping your online business success can be done in so many ways, but in this blog post, let us share with you how the power of offering discounts to your potential buyers on Vinted can impact your profit.
What is Vinted?
Vinted is a popular online marketplace for second-hand items under the women, men, and kids categories. From 2008 since its founding year, the platform has gone a long way, gathering over 12 million users who share the same interest in fashion.
Due to the significant number of users, sellers have also grown exponentially who can list their items for free. Vinted prides itself on a user-friendly platform and hence the uncomplicated process of transactions between the buyers and the sellers.
Vinted helps online sellers boost their sales with the features they can exploit on the platform. These features offer discounts to entice more potential buyers and influence their purchase decision, resulting in more conversions and successful transactions on the platform.
Offer to Buyers Feature
While sellers have the freedom to use other features on Vinted, like creating Bundles and Bumping their items, they can also use the Offer to Buyers feature to encourage sales from their potential buyers. This is a practical feature for sellers and buyers to have a common ground for negotiating an item's price.
As a seller, you can initiate the offer to your potential buyer by sending them a message and clicking on the Make an Offer button. After that, follow the steps below:
- Indicate the new price you are willing to offer and click the Make a new offer button.
- Then, your potential buyer will get notified wherein they have an option to accept or decline your offer.
- Your potential buyer should click the Buy button to start the buying process to close the sale.
Sellers like you can only make five offers to your buyers each day so use these chances wisely. Also, there is no need to worry about the listing price visible to other buyers when you send an offer to a particular shopper since this is a private offer. The new discounted price you have entered is only visible to the specific buyer you have offered it to. And those who did not receive an Offer from you will still see the original item price.
Be aware that buyers can also use the Make an Offer button. They can use this feature to initiate a negotiation with you with an offer of up to a 40% discount.
Always remember only to accept offers that are favorable to your business. You must note all the fees that Vinted takes and your profit for each item. It is always safe to have a ceiling and floor price, which will serve as the wiggle room for discounts on your listings. This will ensure that you won't compromise your earnings in each transaction.
You may click on the accept or decline button if you accept their offer. Like the last step of making an offer as a seller, your buyer would have to click the Buy Now button when you accept their offer.
Note: The discount cannot include the shipping fee of the item.
Having mentioned that the offers made through the Make an Offer feature are private offers, you might wonder how you could reel in other buyers when you only have five chances of sending private offers per day. Worry not as Vinted lets sellers have the chance to set a public discount on their closet which can be visible to other potential buyers.
This discount is for those buyers who create a bundle of listings from your closet. This will let you get the attention of more potential buyers to buy from your closet. Of course, shoppers love discounts, and the higher discount you offer, the more you will entice them to purchase from you.
To set the discount in your closet on the website:
- Go to the Settings on your profile
- On the drop-down menu, click on the Select discount
- Enter your preferred discount for your buyers
Take note that you can also choose not to offer any discount to your buyers by turning off the 'Select discount' functionality and choosing the '—' option should you decide not to offer any discount on a specific number of items.
If you are using your iOS or Android, you may set the discount by:
- Going to your profile
- Tap the Bundle discount to enable it
- And enter the discount you prefer
Cross-list to sell more!
Discounts are undeniably proven to encourage more buyers to finalize their purchases. And while the ultimate goal of offering this marketing strategy is to reel in more buyers, there is also another technique that most businesses use to ensure a higher conversion on their items.
Expanding the reach of their exposure to a more significant number of shoppers like cross-listing to other marketplaces is one helpful strategy. Considering that not everyone has a similar preference for the marketplace they use, cross-posting can ensure that your listing is visible to many different platforms that cater to different types of buyers.
You can boost your sales on your Vinted listings by cross-listing. That is why, OneShop is working nonstop to provide the best service to sellers like you and make cross-posting to other platforms such as Poshmark, Mercari, Depop, and other platforms (soon!) possible. All you have to do is create a draft once, and you can effortlessly cross-list to the marketplaces we have integrated.
You can see how it can make a difference to your closet by trying our 14-day free trial without any credit card needed. Just sign up here, and we'll text you the link to our app.