Are you a Vinted seller who is always lowering your prices to try and get that sale?
Well listen! Because you might be missing a super simple trick that will allow you to start lowering your prices and still make money in the end.
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In a clip shared on TikTok (@business.and.babies), Helen Allson, who won £499.85 in March, explains: “When you’ve had an item on sale for a while, rather than going in and lowering the price, you go to the item, edit it and you’ll take a screenshot screenshot of all the photos you have there.
“Crop them to make sure you only have the image of the item, copy the description you put in and then you will delete the listing.”
Helen says what you need to do is resubmit that listing as a ‘new listing’, creating a new listing on Vinted.
“So use the photos and you’ve already copied the description, and then just create a title,” she continues.
“Then you’ll do all the normal things and create a listing.”
Helen then explains why…
If you suddenly lower the price, it will not go to the top of the algorithm
Helen Allson
“Because when you have an item that hasn’t been sold for a while on Vinted, lowering the price basically doesn’t do much good unless you have a lot of people who have favorited it,” she says.
“So obviously it shows up in your feed because someone favorited the item, but now the price has gone down and maybe they want it.
“But if it’s been in your wardrobe for a while, the people who favorited it probably added it a while ago.
“And my experience has been that if you suddenly lower the price, it doesn’t go to the top of the algorithm, you just lower the price of your item.”
New Vinted rules for you to know
IF you want to clean out your closet and get rid of your old stuff on Vinted, you’ll need to consider the new rules that recently came into effect.
If people sell personal items for less than they paid new (which is often the case with second-hand sales), there is no tax impact.
However, since January 1, digital platforms including eBay, Airbnb, Etsy, Amazon and Vinted must share seller information with HMRC as part of a crackdown.
You’re unlikely to be affected if you only sell a few second-hand items online each year – generally only commercial sellers who trade for profit may need to pay tax.
A £1,000 tax exemption has been in place since 2017 for commercial sellers trading for profit – the only time an individual personal item may be taxable is if it sells for more than £6,000 and there is a profit from the sale.
However, businesses now have to pass your details to HMRC if you sell 30 or more items a year or earn more than £1,700.
It is part of a broader tax crackdown to help ensure that those who increase their income through side hustles pay what they owe.
Although your details will not be shared with HMRC if you earn between £1,000 and £1,700, you will still need to pay tax as normal.
After deleting the listing and re-uploading the item, something she does every month, she notes, “Then you get to the top of the algorithm.
“You will have new eyes on your item, you may have new eyes in terms of new people who are on Vinted who haven’t seen your item before.
“You have a new listing in your closet, so that’s always great because it shows Vinted that you’re an active seller, which I think they prefer, and you’ll sell it without having to lower the price, hopefully.”
This story originally appeared on The-sun.com read the full story
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