The COVID quarantine caused a surge in online sales for various types of items. Research shows consumers spent 44% more on online retail sites in 2020 than they did in 2019. But there’s good news if you went overboard with your purchases.
Take a look around. Did you purchase more stuff than you need during the COVID quarantine?
Experts estimate COVID-19 related online shopping resulted in an additional $174.87 billion in e-commerce revenue in 2020!
But if you bought too much you can easily sell it. Amazon charges 99 cents for every item sold in addition to a referral fee that ranges from eight to 20% of the item’s price.
Online site eBay allows you to auction your items or charge a flat rate. You pay eBay ten percent of the item’s price including shipping, but not taxes.
Bonanza charges you 3.5% of your product’s price plus the shipping price above ten dollars.
And Facebook Marketplace is a free platform that caters to local buyers and sellers.
If you’re unfamiliar with the company check the Better Business Bureau accreditation before listing.
Make sure the item you’re selling is the focal point of your photos. Spell out everything in the description, including the brand and any defects. And price it slightly lower if you want it to sell quickly.
Another option if you want to save time and effort is to take your stuff to a local consignment shop. You might make less, but the store does the selling for you. Experts estimate you’ll probably pocket about half of the actual selling price.
And remember, when selling any item online, most experts warn to never invite buyers to your home. Meet in a public place where there are a lot of people.