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Selling on consignment can be a great way to boost profits without assuming any risk for your retail shop. Common consignment products include candy, gift add-ons, sentimental trinkets, clothing, artwork, toys, jewelry, and fashion accessories.
In addition to selling consignment products that fit your customer base and working only with reputable vendors, these tips will help make your consignment selling experience more enjoyable and profitable. When will you process and send payments (immediately after each sale, after a certain time period, such as monthly)? You can also consider placing displays in targeted areas; for example, wine bottle toppers near party supplies. Reference consignment products whenever appropriate; do it in a way that is helpful to the customer. You can find vendors by scoping out displays at other retailers, at trade shows, and through online searches.

You can even place a sign near your register, or launch a direct-mail or other marketing campaign, requesting interested consignment partners to contact you. Knowing what kind of foot traffic you get at your store, the average number of customers per day, and being able to define your industry and opportunities within it are great ways to attract vendors whose products tend to move quickly.
Selling on consignment is a great way to increase profits and expand your product offering without taking on more overhead. When you sell on consignment, the vendor (or consigner) owns the merchandise and often provides a point-of-sale display. Make sure you know where the merchandise is coming from and that the vendor has a good reputation.
Again, you can sell just about anything on consignment as long as it makes sense for your shop and target customer base. For example, a customer who is purchasing a gift and gift-wrapping is likely to be interested in a greeting card.

Follow these tips to ensure your consignment arrangements are mutually-beneficial and especially favorable to your business. When one of the products sells, you keep part of the profit and pay the rest to the vendor. The following tips for selling on consignment will help you increase profits with little effort and no risk.

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