Let’s set the stage. You’re a seller on TCGplayer. You’ve been selling for a while, you’re doing well on the platform, and you feel like it’s time to take the next step in growing your online presence. This could mean adding more inventory of the products you’re already selling, but you’ve also heard rumblings about how well Pokémon or Yu-Gi-Oh! or Force of Will has been selling for your peers. It might be time to expand into a new product line. Now, there is some prep work that needs to be done before you jump right into acquiring new product, and that’s what we are going to go over here.
Before making the decision to support a new product line, you need to identify the demand for it. This can be online demand, in-store demand, or ideally, a combination of both. The online demand for a certain product line can be seen by paying attention to pricing trends. If you are noticing an overall increase in single prices, demand is likely increasing. In-store demand can be figured out by listening to your customers. Have you noticed more customers coming in requesting a product you don’t carry? If so, it may be time to look into expanding your offerings.
After identifying a demand for a product, you need to figure out where to acquire the product, as well as the cost of that product. This will allow you to better anticipate your margins. When sourcing your product, be sure to explore multiple options, allowing you to make a more informed decision when it comes to making that initial purchase. Be sure to look at distributors, local customers, and online buylists for new product.
Once you have decided that you are definitely going to add this new product line, make sure you advertise it to your local customers. Post on your social media pages, make a new banner on your Pro site, or reach out to your email list. Getting people excited and ready for this new arrival should help your sales from day one.
When it comes time to acquiring your product, it might be wise to start smaller. This will allow you to acclimate yourself to this new product line, as well as get a sense for how quickly this product sells and where it sells best. You will also be able to get feedback from your customers about what else they would like to see from this product line. You can use all of this information to inform your future purchases and get the most bang for your buck.
Aside from the above, it is important to prepare yourself, your staff, and your work area for this new product ––keeping you and your staff educated and knowledgeable will help you manage and sell it once it is on your shelves. Knowing things such as the different rarities in a game, or a product’s release cycle can help you better serve your customers. When it comes to preparing your store or work area for a new product, you’ll want to take into consideration how you will be displaying or storing it. You will also need to know if you are offering this product in sealed form, as singles, or both. This will let you get your shelves ready for the first shipment.
Once you have that first shipment in hand, you can get it sorted, listed on your TCGplayer account, and start selling. If you would like to talk to a Customer Success Manager about branching out into a new product line, book a meeting on our calendar. We are always happy to help!