Fulfilled by: Liquidation.com
IMPORTANT INFORMATION FOR BUYERS: Shipping and Pickup during the COVID-19 Crisis Read More
Facebook as a Resell Channel
Pros, Cons & Fees of Facebook Marketplace
One of the most difficult steps in reselling liquidated merchandise comes when deciding where to list the products for maximum profit potential. With sites like Craigslist, eBay and Amazon at the forefront, there is a new channel emerging on social media creating a massive audience to sell your merchandise.
Marketplaces on Facebook combine the social engagement of its primary stream and an engaged audience eager to purchase goods for all occasions: electronics, home goods, shoes, accessories, apparel…and so much more!
In October 2016, Facebook estimated that more than 450 Million people across the globe visit their platform’s buy and sell group every month. Factor in your local community and sellers could build a new local and broad consumer base with easy access to social sharing.
SELL ON FACEBOOK MARKETPLACE: Similar to Pinterest’s layout, Facebook prominently displays the image of the item being sold, with the title, description, location, and price below. When selling on this platform, it’s essential to use high quality photos with the product taking the main stage.
When a prospective buyer opens your ad, they’ll see more details and a place to make an offer – as Facebook doesn’t currently offer a buy now option.
Real-time alerts for new offers
Ability to create a local store and buyer base
Easy to list and sell
Converse with buyers to build your brand
Buyer can retract offers
Does not have the same protections as eBay
Only available on mobile app
Time consuming (listening and answering buyers’ questions)
Self-storage of merchandise until sold
For new resellers, Facebook Marketplace may be a great channel to test the waters and perfect your selling techniques before growing your business outside of your local community. Take this time to learn which products sell and how buyers respond to the merchandise conditions as this will help develop your sourcing skills.
Resellers who use Facebook marketplace have seen success by creating their own store, either out of their garage or at a local flea market. Operating with a physical store, combined with scheduled business hours allows buyers to stop by regularly to pick up, or browse the merchandise. Browsing upon pick up can also mean increasing the order size, which means quick upsell profits for the seller!
For sellers where a physical store is not feasible, Liquidation.com advises you to complete the transaction in a safe, and well-populated area during daylight hours Ask for the buyer to come with cash to ensure payment transfer is completed and secure. If the buyer prefers for the item to be delivered, either charge a delivery fee to cover your time, miles, and gas or have the buyer arrange shipping.
Before listing, research each marketplace to determine where you’ll get the highest return for your item, or items. At this point, research was done on the initial investment of the liquidated merchandise, now take the time to research your reselling channel to find the one able to give you the return you need to maximize profits.
Fulfilled by: Liquidation.com
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