Understanding Automated Price Offers on Vestiaire for Professional Sellers

April 26, 2024

In the fast-paced world of fashion resale, efficiency is paramount. Professional sellers, ranging from consignment stores to luxury resale businesses, understand the importance of streamlining processes while maintaining profitability. This is where Vestiaire's new feature called "Automated Price Offers" comes into play, enhancing the way sellers manage buyer offers on their listings.

What are Automated Price Offers?

Automated Price Offers is an extension of Vestiaire's 'Make An Offer' mechanism, designed to streamline the negotiation process between sellers and buyers. It allows sellers to automate responses to buyer offers on their listings, saving time and enabling 24/7 management of offers, all at no additional cost.

How It Works

When activated, the system automatically responds to buyer offers based on predefined parameters set by the seller. Sellers can choose between different discount options, tailoring the feature to their preferences and inventory characteristics.

The automated offer sent to the buyer is calculated based on the original listing price and the chosen discount rate. For example, if an item was listed at €4000 with a 15% discount rate, offers above €3400 will be automatically accepted, while offers below that threshold will receive a counteroffer at €3400.

Tailored Discount Options

Sellers have the flexibility to choose from three main discount options:

  1. STANDARD: Ideal for sellers looking to provide standard discounts across their entire catalogue. This option often leads to increased conversion rates by offering more aggressive markdowns, particularly on items that have been listed for a longer duration.
  2. HIGH-END: Suited for sellers specializing in high-value items such as watches and jewelry, where offering limited discounts is preferred. However, it's important to note that this option may not be suitable for sellers with a diverse range of products.
  3. HYBRID: This option allows sellers to strike a balance by offering growing discounts on less expensive items while maintaining lower discounts on higher-priced items. It's an excellent choice for sellers with a varied inventory across different price ranges.

Additional Features for Bulk Listing Tool and API Users

For sellers utilizing Vestiaire's Bulk Listing Tool or API solutions, Automated Price Offers offer an additional feature called 'floor price.' This allows sellers to set a minimum price they're willing to accept for negotiations, providing greater control over margins.

See here the example provided by Vestiaire Collective: "For an item at an original listing price of 4000€, with a floor price of 3,500€, all offers above 3,500€ will be accepted, whereas offers below 3,500€ will receive a counter offer of 3,500€."

Considerations and Recommendations

It's important for sellers to note that if their current markdowns exceed the automated discount rates, no automated response will be provided. In such cases, sellers can intervene manually or opt for a more aggressive discount option to ensure counteroffers are sent consistently.

In conclusion, Automated Price Offers on Vestiaire offer professional fashion sellers a powerful tool to streamline negotiations, save time, and enhance sales conversion. By leveraging automated responses and tailored discount options, sellers can focus on growing their businesses while providing a seamless shopping experience for buyers.

How to implement Automated Price Offers

Sellers can activate or deactivate Automated Price Offers at any time, ensuring flexibility in managing their listings. Monthly email communications provide a link for sellers to make their choices promptly, with changes typically reflected within seven business days.

Setting Floor Prices with Oly

If you are working with Oly to list automatically from Shopify to Vestiaire Collective, we can help you set up the Floor prices and automate them.

Discover more about Oly crosslisting tool for fashion resale businesses on our website, or read how Oly streamlines inventory management across secondhand fashion marketplaces.

For more information about the Automated Offers Feature, visit Vestiaire Collective FAQ page.

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