You love vintage clothes and want to share your passion with others. Starting a vintage shop is a great idea. Starting an online vintage shop is an even greater idea.
Look around, and you’ll see retail shops are closing every day. People are choosing to shop online for convenience and better pricing. Global e-retail sales amounted to $2.8 trillion in 2018 and are expected to almost double over the next three years.
You can still have a brick and mortar store if you live in an area that has a strong market for this niche. Having an online store will help you reach a wider market and keep more of your income for yourself. The sales may even help support a physical location and keep it afloat.
Are you looking to move into this market? Keep reading to see how to monetize a vintage shop and build a strong customer base.
Design a Website for Your Vintage Shop
The first step after deciding to start a vintage shop is creating a website. Your website needs to have all the key elements to keep your site visitors engaged.
Eames is an example of a well-designed website for vintage sellers. They give you a blueprint for staging your products in a digital format.
Check-out the layout, color schemes, and descriptions. You will also want your website to be user-friendly and user-responsive.
Include User-Friendly and Secure E-Commerce Capabilities
The most important component of an e-commerce based website is security and ease of use. If your customers find it too complicated to navigate through the check-out process, they are more likely to abandon their cart.
Aside from implementing an easy check-out process, you also want to have a means for the user to seek online assistance. For abandoned carts, their needs to be a process to follow-up with consumers regarding their experience.
Offering a list of items left in their cart and a small discount for returning and completing the purchase is a plus.
Build Your Brand with Digital Marketing
To draw attention to your online vintage store, you will need to develop a digital marketing strategy. For an effective strategy, you need to build brand awareness around your business.
Branding is the identity of your business. It is your logo, a catchy tagline, color schemes, and in some cases, the face of the business.
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A successful brand is one where people can see your logo or business name and immediately connect it to your product or service. Successful digital marketing campaigns put your advertising in front of your intended audience and generate leads for your website.
Incorporate Social Media Platforms
Social media will play a huge part in the success of your vintage resale shop. Your social media platform are an introduction to your business and the best way to get visitors to your website.
Platforms such as Pinterest, Instagram, and Facebook are great for displaying visuals like images and videos of your products. Be mindful that people are visual so you need engaging vivid graphics that will not on grab but keep their attention.
Once you have chosen the best platforms to start your channels, utilize content links from the website to engage your followers.
Hire a Professional Photographer
Consider hiring a professional photographer to capture images for your e-commerce site. You want to show your products in the best light. Having creative and professionally done photos will build credibility.
With the newest smartphones, you can capture awesome images, but you want to make sure they represent your products correctly.
After loading your images to the website, you will need to incorporate Search Engine Optimization. This is the technique of getting your products to the top of search engines.
Develop a Pricing Strategy
A pricing strategy is figuring out how much revenue you will need to earn to maintain your business. To generate the most revenue, you’ll need to understand price points for similar businesses.
Determine whether you want to be a discount retailer or a high-end retailer. Pricing is also important to your branding. How you want your brand to be received will be reflected in your pricepoints.
As a rule, do not assume that selling merchandise on the low end will generate more revenue. Focus on quality and your content to drive your pricing and then determine how to attract your target audience.
Control Your Inventory
Inventory is another factor that will play into your pricing structure and how monetization for your website will go. Inventory needs storage and storage is an added expense for your business.
Because you are a niche market, your vintage store has to be able to produce the items your customers require. This may involve dealing with a wholesaler. This way, you can promote popular items without having to actually house the inventory.
When it comes to hard to find items, you can create a second stream of income by locating on-demand merchandise.
Invest in Retargeting Techniques
Every retail website should invest in retargeting. This is the technique of collecting cookies from site visitors to feed digital ads into their web experience.
Most of us have experience retargeting. In its simplest form, retargeting is when you visit a website, and then ads for that business appear on other websites that you visit.
Utilize Analytical Data
Understand analytical data generated from the behavior of visitors while on your website is essential. This is how you monitor your return on investment for SEO and digital marketing advertising.
Insights from your website and social media platforms will show you what is working and what is not. The data will also help you understand if you are reaching your target audience or if there are opportunities to grow your audience.
Are You Ready to Make Some Money?
Your vintage shop will be off to a great start with these tips. Niche markets with an online presence have great potential for success when implemented correctly.
Not sure how to grow your audience? Check out our guides give your business the boost it needs.