There is approximately £30 billion of unwanted clothes in this country with 350,000 tonnes of clothing ending up in landfill each year.
“As a society, we are seeing a real movement to challenge the fast fashion industry with a more sustainable and healthy approach to clothing where we re-purpose, re-use, and re-sell but how you approach this money-making opportunity, is the difference between making £50 or £500,” according to the pawnbroker.
These unwanted clothes could be making people “instant cash” on “great” platforms like Vinted, Hatfield commented.
The columnist pointed to Vinted’s “mass appeal” and its “broad demographic and fashion styles to suit everyone”.
Hatfield added: “The platform is simple to navigate and use plus, more importantly, they don’t charge the seller to list their items”.
To help you “maximise your money-making potential” on the crowded platform and “guarantee plenty of pounds in your pocket”, the expert has shared his top tips.
How do you make the most money on Vinted?
Your reputation as a Vinted seller is key
The pawnbroker urges Vinted users to start by emptying all of their clothes from wherever they store them and laying them all out in front of them.
Dan added: “Then I want you to properly scrutinise each piece of clothing and ask yourself whether you wear it often or hardly ever”.
After you’re happy that you have a pile of clothes you’re happy to sell, you should check their condition.
“Remember, condition is king, so any holes, stretched material, or faded colours, probably won’t sell that well for you,” according to the expert.
He urges that this is important in order to establish a reputation for selling great quality clothing.
Personal taste could limit your selling opportunities
His next tip to sellers is to “lose any notion that you’re the next editor of Vogue”.
Dan went on to say: “You may have a keen eye for fashion, but your personal taste could cloud your judgement and miss opportunities with some of your items.
“Your taste is not universal and something you consider dated and out of fashion may be sought after as a vintage/retro piece by another person”.
Think seasonally
The This Morning money expert has also noted that sellers need to “be mindful of the seasons”.
For example, a winter coat isn’t going to be a top seller in July and a summer dress is likely not going to be in demand in December.
Sorting and selling by seasonal categories can often secure higher price tags as demand for ‘summer/winter wear’ heightens at that time of year.
Be known for great prices
Reputation for great quality clothing is important, Dan acknowledges.
However, the expert says you also want to be known for offering great prices.
“I think it always helps to have a moveable scale when it comes to your pricing strategy, after all, everyone loves a bargain so being able to offer small discounts can really help you seal more frequent deals,” according to Dan.
The pawnbroker went on to say: “Do research on the platform for similar items that have sold – this way you can position yourself competitively.
“If you can’t find anything similar, I generally suggest charging 20-40% of the original price taking into consideration the age and condition of the item.
“If you’re fortunate enough to have some vintage clothing in high demand you need to do detailed research to see how much other similar items have gone for to ensure you secure the maximum price possible”.
Remember postage and packaging costs
Dan also urged people to remember to work out their postage and packaging (P&P) costs.
If they forget to include these in their pricing strategy, they could be eating away at your profit.
The expert also urged people to not try and make a profit on their P&P – these are hard costs that buyers expect to cover.
However, these sites have a huge community of knowledgeable people and trying to outsmart them for a couple of extra quid snuck into postage won’t go down well and will likely lose you a sale.
Make use of Vinted’s 20-picture limit
Dan recommends making use of Vinted’s 20 pictures per item allowance.
The pawnbroker explained: “Make sure you take numerous photos of the clothes from an array of angles – after all, if the adage that ‘a picture says a thousand words’ is true, you’ve got an opportunity to say a lot to a prospective buyer with all the shots you can upload”.
The author also gave some recommendations about how to get the best shots.
These tips include:
- Take your pictures outside with natural light between 8am and 10am.
- Iron out any creases and remove any lint – people know that these are pre-loved, but they will be attracted to clothes that look new.
- Find a neutral background so that the clothing remains the focus of the shot.
- Photographing yourself or a friend/family member wearing the items really delivers greater sales. You can crop out heads so as not to plaster your beautiful faces all over the internet. Use clips from behind to help show a fitted silhouette if needed. Oh, and please don’t just lay the item on your bed – the item will look one dimensional.
Your great pics need to be paired with a good description for each piece of clothing, the expert urged.
Dan advised: “Always include the brand name and size of the item but don’t use generic sizing.
“Be specific with exact measurements of the waist, inside leg, shoulder length as over the years (and even varying between different brands), what was classified as a medium or a female 14, may have changed.
“Include details of the material it’s made from and if there is any wear and tear, be truthful about it”.
How do you sell on Vinted effectively?
Dan concluded with some final ‘simple yet effective’ tips.
The expert urged sellers to always be polite when answering questions or queries as well as try to be as quick as possible when responding to potential buyers.
He continued; “Be honest, upfront, and always do your best to manage expectations”.
The money expert also suggested that sellers put a little thank you note in with the items.
This is an opportunity to ask for a review and offer a discount on any future purchases for doing so.
“If you’re transparent, you shouldn’t have any complaints but if you do, deal with them promptly and professionally,” according to Dan.
The pawnbroker continued: “If someone likes or favourites your item whilst browsing, try offering them a discount there and then.
“This often gets a sale over the line and is why you set a moveable pricing strategy earlier on”.
Recommended reading
Dan concluded: “Vinted is a wonderful platform that is fun and engaging but you need to follow my tips if you want to make it a lucrative side-hustle.
“There are hundreds, if not thousands of pounds to be made from pre-loved clothes.
“I hope after reading this you’ll be tempted to join the Money-Making revolution”.
Dan Hatfield is the author of Money Maker: Don’t Just Save It, Make It! Available now, published by Catalyst (Hardback, £16.99)
