Cash In on New-to-Me Products

When I was a junior at Overlea Senior High, my best friend Mike and I used to talk about cars. We would refer to our new cars, then qualify it with the all-important phrase—“well, new-to-me car.” Code for pre-owned, which is code for used.

That word used was steeped in stigma. “He dresses like a used-car saleman!”

Then consignment shops came into vogue; junk, no more. Mainstream decorators featured consignment shop goods to decorate on a budget, describing the pre-owned items as shabby chic. In upscale areas, pre-owned became kitschy, vintage and retro.

Still all code words for used, but the codes made the idea more palatable to folks who would have otherwise scoffed at the notion of using something a total stranger had used before.

Add to that the green movement. Pre-owned now has the added dimension of being recycled. Consumers hear they are getting something cheaper and they are helping the environment without doing any extra work, so they are pre-sold on the idea.

Smart businesses have figured out how to expand or simply repackage their wares to tap into that pre-owned/green market. Is your business missing a potential revenue stream?

Take a Second Look. Step back from your business to see how it’s viewed by consumers. Change how you look at your business, and you may find a new group of consumers to buy your product.

A great example of this is .  Years ago, when I lived in Ellicott City, a Play it Again Sports opened amid a group of upscale consignment shops.

The marketing effort then was geared toward helping parents save money. Many nearby consignment shops catered to parents. Play it Again Sports made a good marketing move. They capitalized on the pre-used movement as well as on the marketing efforts done by the other consignment shops. Many parents in line for new seasonal clothing for a child would also be in the market for sporting equipment for the new season’s sports programs at school and rec council.

Even good businesses grow stagnant unless they keep up with consumer trends. As the green/recycled movement evolved, Play it Again Sports changed its marketing tilt to take advantage of that movement. Today, the website  proclaims: “Play it Again Sports has been helping communities recycle their quality sports and fitness gear for 25 years.”

Additionally, a graphic on the site is a tree, a recognized recycling symbol. The green leaves feature sports graphics alternating with the recyling stamp consumers see on the bottom of items that may be recycled. Play it Again Sports added a market while selling the same products just by planting a virtual tree. 

Beyond Marketing. You may have to do more than market your products anew. You may be missing this pre-owned market because you don’t see goods you are getting rid of as viable products. Scrap metals and wood palettes are examples of little extras you can make money on by simply using items that come to you naturally.

When I was a teenager, I watched two Rosedale businesses (now defunct) find a new source of revenue in selling palettes. Until then, the trucking company and the food production company were paying to have the discarded items shipped away. The next year what had been an expense was now extra money. It’s a real-world, quantifiable example of turning a negative into a positive.

Expand Your Products, Not Just Your Mind. Do you have offshoot products you can use, make or sell for a minimal amount of effort?

An eHow article shows consumers how to sell their used ink cartridges. Why shouldn’t your business get in on that action?

gives $3 in store credit to customers who bring in used printer cartridges, for up to $30 per month. Those cartridges can be refurbished for sale again. It doesn’t apply to all printer cartridges, so learn your market before you offer to buy back used items. If you don’t plan to refurbish and sell the returned items yourself, find an outlet for those used goods you take in.

Staples (locations in Perry Hall and Towson) offers a similar promotion. Consumers get $3 off the purchase of a new cartridge when they bring in a used on for exchange. Staples gets a product ready to be refurbished for minimal money, but more importantly, they draw customers into the store.

Both Staples and Office Depot make it smart for consumers to purchase new ink cartridges from them—all for a $3 store credit. Since customers rarely purchase only $3 in products, a $3 store credit will bring in at least triple that amount in additional revenue they might not have garnered.

Then there are spin-off items. Specialty or gift shops can include products fashioned from recycled good. A little section geared toward recycled goods adds a new dimension to your product line and your customer base.

Focus on Quality.  According to the Play it Again Sports website, the customer will find "Used Gear—Not Gear That’s Used Up!"

Quality separates a good consignment shop from a used-clothing store.   lists stringent guidelines on its website for those who want to consign items for resale. If you want to get in on the green market with minimal cost on your part, concentrate on goods that require little work on your part. Minimize your effort and maximize your profits at the same time.

Let some of these ideas sink in, then analyze your business for possibilities. What can you do to cash in on “new-to-me” and green markets? It’s all about evolving with the times. The world changes, your customers change, and so should you.