Posted by Alex Jackson on 5th Dec 2016
it’s fair to say that a lot of folks may get tunnel vision looking for a lot so it’s very easy to overlook certain lots that at first glance may not be appealing. Maybe it’s not the brand mix you were looking for or the size mix is odd but believe it or not, sometimes these overlooked lots can be a sleeper hit. Sleeper lots are those lots that may look unappealing at first glance but digging deeper in you may see some hidden potential. Here are just a few pointers on how you find them and what should you be looking for is what we are covering today.
Small and large are good for business- Don’t pass on a lot because it’s all petites or plus sizes. Disappointed because you found a lot you like but it just has too many plus sizes? Well don’t be because these are winners. Plus size fashions have a few important things going for them. First supply is scarce the United States has over 130 Million people considered obese a market that cannot be ignored. Second because of the overwhelming demand for these plus sizes they typically command a higher premium. Same goes for petites not every store stocks these small sizes in significant quantities making them desirable. Odd sizes mean’s more profits in your pockets.
Multiples- See a lot you like but it has multiples of a smaller dollar item like socks or an accessory? Well don’t dismiss these offhand multiples are not a bad thing. Consider that you only have to list them once, small dollar items keep sales flowing because they are impulse items and what do you think the return rate on a $5 pack of socks would be like? Who wants to go to the trouble of returning the item for a small amount like this?
Form over brand- Surprisingly name brands are not always a surefire seller believe it or not there is a demand for off or store brand merchandise particularly if the style and the price is right. Store brand merchandise is usually more aggressively discounted remember it’s the stores brand so their costs are lower.
1 or 2 can put you in the black- Frequently a lot will show up with one or two high dollar items that can potentially be turned over quickly essentially paying for the lot. Categories like Women’s coats, men’s shirts and men’s suits are a good place to start looking. Imagine finding a $1000 lot of coats with 2 $1000 SRP coats sell the for $500 each and the rest of the lot is 100% profit.