Open an Online Consignment Store!

A New Trend in eCommerce: Online Consignment

Online consignment has taken the eCommerce industry by storm. Since 2009, over $100M has been invested in leading online consignment companies like ThredUp, which secured $81M in funding just last year, and others, including Poshmark, Twice, and Threadflip.

Many companies, including Linda’s Stuff, a $25 million dollar business and the largest consignment seller of clothing and shoes in the world, began on eBay and later expanded into full-fledged online business operations. Linda’s Stuff now employs 110 people and operates out of a 72,000 square foot warehouse in Philadelphia.

Online consignment extends to more than just clothing and home goods; consignment opportunities exist for other types of products, including wine and devices.

Online Consignment Are Shops Primed For Success in Today’s Market

If you have been on the fence about branching out into the online consignment business, the time to act is now. As James Reinhard, ThredUp founder, shares in this oustanding Business Insider article, online consignment stores are primed for success due to their unique ability to create a delightful shopping experience. Currently, the offline consignment market is saturated with large thrift brands and dingy warehouse-style shopping experiences. By taking their consignment businesses online, entrepreneurs have the opportunity to differentiate themselves from the competition and create a boutique shopping experience for their customers.

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New Administrative Features Make Managing an Online Shop Easier Than Ever

CoreCommerce’s new admin dashboard functionality, rolling out just this week, makes opening a consignment store online easier than ever. Now, CoreCommerce customers are able to:

  • Set up individual consignors and tag each consignor with a set commission.
  • Run a Vendor Sales Report, which shows cumulative payout amounts per consignor.
  • Run a Vendor Inventory Value Report, a comprehensive report which breaks down the entire store’s inventory and lists quantity, cost, and inventory subtotals for each consignor.

With these tools, the added complexity of inventory and vendor management inherent within the consignment market are taken care of.

Interested in opening an online consignment shop? Sign up for a free trial today or contact a sales representative at 1(800)747-4270.

Current CoreCommerce customers, please submit a ticket for our support team to enable the consignment feature.

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