Posted by Alex Jackson on 28th Feb 2020
You probably heard this one about a million times as a kid. "don't forget to bring a jacket!" Yes, if your parents taught you just one thing as a child, it's the importance of always being prepared with the right outerwear. Now, as an adult and an independent entrepreneur, you may not realize the profit potential that these types of goods present, so let's look a bit deeper and explain why you should never forget as a reseller your coats and jackets.
Coats and jackets are frequently overlooked in part because they are not daily wear items. A blouse, jeans or a t-shirt can be worn virtually any day of the week. Coats and jackets? Maybe, or maybe not, it depends on the weather time of year and other variables. As a seller, the logic goes something like this. The more useful the item, the more likely it is to sell, and this seems logical. What most resellers do not take into account is that because jackets and outerwear are used less often, consumers tend to be willing to spend more to get a higher quality garment. Your average consumer has a low dollar threshold for what they are willing to pay on a blouse or t-shirt that's worn for a season. A winter coat, on the other hand, that can be worn for multiple seasons? It's a whole lot higher. Higher dollar sales mean more revenue at the end of the day.
The second commonly overlooked advantage is that coats and jackets, even when not in season, are still very much in demand. People shop year-round for a good winter coat, especially when they know they can get a good deal offseason. Almost all of your brick and mortar retailers will put these items in storage or liquidate them at the end of the season. Most online retailers will take down their merchandise or simply jack up prices from the end of season lows. This leaves about 5 months in which you can still make some good profits first and foremost by having product available and second by pricing it competitively to entice those off-season shoppers.
On or off-season outerwear like coats and jackets can be highly profitable to your business, so never forget that jacket or that coat for your business.