All You Need to Know About Reselling Items in Nigeria

Call it ‘Okrika’, ‘Tokunbo’, ‘Bend-Down Select’, or whatever, the act of reselling items in Nigeria is here to stay. Some have embraced fairly used items which can also be referred to as secondhand goods as a result of the pathetic experiences encountered from their purchase of brand new items that failed to stand the test of time. Imagine how sad it is to buy a new Sandwich Maker and a few days later, you begin to change the cable or repair a part of it; unfair right?

In most cases, ‘reseller’ is a word used to qualify someone who buys an item without the intention of making use of it, instead, they sell it to another person who will use it or eventually reseller it. Having established this, it is safe to call one a reseller even if they didn’t buy an item with the intention of reselling it but are left with no choice since the item is no longer useful to them.
Well, many Nigerians say things like, ”Tokunbo is more durable”, “when it comes to electronics and household appliances na secondhand sure pass”. Although, similar comments haven’t in any way been proven to be true but here is what we know about the business of reselling items in Nigeria.

Profitability

Whichever way you wish to look at it, reselling is quite profitable for those who do not intend to be greedy. Imagine you had bought a really expensive dress for a corporate event, after the first time you wore it, you discovered that it didn’t fit you so well. At this point, you don’t want the dress rotting in your closet so it’s preferable to resell it as a fairly used item. Obviously, you wouldn’t be giving out the dress at the same price with which you bought it- but you will surely be getting some of your money back from the resale of the dress. Being profitable as a reseller is dependent on your ability to build a strong and large number of buyers who can afford your fair price and have an eye for the quality items you are offering.

Good News To Manufacturers

Reselling items is a great way to help manufacturing companies to put their resources into productive use. Rather than being bothered about meeting the needs of a population who want a product they can’t necessarily afford or creating substandard products to match up with their budget, they can now focus on churning out improved versions of their products and attracting people to buy the new products. This will create a need for people to sell off their used products to those who eagerly wish to own them while they purchase the new ones. You as the reseller gets to earn some money, your space isn’t congested with stuff you don’t use, the manufacturing company makes profitable sales, the resale buyer gets an item they need, and everyone is happy. 

New or Fairly Used? Who Cares?

After the moment when you make payment for a brand new item and it is handed over to you by the seller, it has absolutely become a used product regardless of if it has actually been used or not. Furthermore, its value begins to depreciate from that point of purchase. If immediately you decide to sell it off at the same price as a new one, buyers would rather purchase the product from a trusted wholesale or retail shop. You won’t need a teacher to tell you that you can only get rid of such item by cutting down on the price and putting it up for sale as a fairly used product. 

Be you a student, professional, industry leader, or a semi-literate individual, reselling items in Nigeria is a lucrative business especially when it is done on a platform like SellOff.ng where you do not need to source for customers, generate your traffic from zero to a whole lot, design and build an attractive online store, then put in place marketing strategies to stay relevant. It’s just a lot of hassles taken off your shoulder.