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One of the most trending questions these days is how to open a thrift store on Instagram. This is because thrifting as a buzzword is gaining traction both in youth culture and the industry. Thrifting also often be misunderstood and related to scammy business models.
Understanding the thrifting model, and its market is the key to success in the thrifting industry. In this article, we will give you the fundamentals of the business. Knowing all these will lead you to make the best decisions in order to succeed in the thrifting industry and make real sustainable profits.
Before we dive deep into how to open a thrift store on instagram, we should dig deep more into the thrifting activity itself. What is it? Understanding this gives you a fundamental view of why people like the thrifting activity and why the industry grows around said enthusiasm.
We all know about the product life cycle. When a utility has been assessed by its owner to be void of value, it means that the product has lost its life and is on the edge of product usefulness.
But thrifting ‘recycles’ the product life. This is because the product is given a new value from a new potential owner. Maybe because the previous owner has grown, thus the sweater is too small for them. But the new owner could fit easily there.
The product life ‘recycled’ makes the utility keep being revived whenever the item found a new owner. This is the main point of the thrifting industry, on finding items that are still having the potential to be utilized by the new owner(s).
Now, we’re going to dive deep into how to open a thrift store on instagram. This part will be more technical and involves more how-to’s to develop your business acumen in the thrifting field. The Thrifting world will be easy to profit in if you practice this:
Trends are important in how to open a thrift store on instagram. This is because trends or nostalgia can develop or renew an interest in certain items. The trends could shape appreciation for older things that might fall out of favor from a certain group but are favored as unique by the other.
One principle that is often really helpful in predicting trends is the 30 years cycle. This tells us that a trend will be revived every 30 years, or at least 1 generation after. For example, Disco was popular in the 1970s, then killed by Rock in the 80s but found new life in Eurobeat and other movements.
This can help you identify items that were connected to the world of fashion and merchandising.
Another part of how to open a thrift store on Instagram is to build or look for the right market. For example, do you sell this to teenagers? Or you are looking for enthusiasts? This will lead you to look for different brands and ways to promote your product.
For enthusiasts, you might need to focus on promoting the authenticity and originality of your product. While if you market it to fashion people, they might care more about how it will look good on their Instagram feed.
Another good part of how to open a thrift store on Instagram is to build a community in order to make sure you have a consistent market. For example, you can create a fans page for a certain K-pop group and match them with your thrift that looks like them.
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Answering your customer’s questions is vital in order to make sure that they are satisfied and would want to trade with you. It’s hard enough to make them part with their money, but it is way harder to convince them that you are the one to be trusted.
It’s one of the most often neglected how to open a thrift store on instagram. Answer the questions through comments, and make a smart move to ensure that they do pay safely without the need to doubt the process.
This is actually related to the previous tip, but it has a different focus. People often doubt the online process because when they parted with their money, they aren’t directly receiving the item. So, another part of how to open a thrift store on Instagram is to understand that customers may need to be updated on the availability to the delivery process.
Make your content communicates what you want to sell. Is it about the authenticity of the original items? Or it is a low no-frills service? Utilize feeds, reels, and other things on Instagram to show and communicate your stocks to consumers.
The final thing on how to open a thrift store on Instagram is to keep trying various ways to convert people or attention to sales. Set up links to your digital store, have your profile linked to an e-commerce business, and others.
So that’s our summary on how to open a thrift store on Instagram explained simply. Try to learn the fundamentals of content creation, business management, and learning trends. This will definitely help you move forward in the thrifting business.