What is Consignment and How Does it Work? | Secret Life of Inventory

Explore the fascinating world of consignment, including:

✅ The basics of consignment: What does it mean?
✅ How consignment agreements work between sellers and consignors
✅ The benefits and drawbacks of using consignment for buying and selling

Whether you're an entrepreneur looking to sell your products, a buyer seeking unique finds, or just curious about the process, this episode has something for everyone. Get ready to learn, laugh, and maybe even get inspired to try consignment yourself!

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0:00 - Teaser
0:10 - Intro
0:41 - What is consignment?
1:24 - What do people usually sell on consignment?
2:34 - What percentage do consignment shops take?
3:12 - What is a real-world example of consignment?
5:09 - What are the advantages of consignment for consignors (the suppliers)?
7:02 - What are the advantages of consignment for consignees (the retailers)?
8:14 - What are the disadvantages of consignment for consignors (the suppliers)?
12:44 - What are the disadvantages of consignment for consignees (the retailers)?
14:04 - What are some tips on mitigating consignment pitfalls?
17:04 - What are some emerging trends in the consignment industry?
20:41 - Key takeaways for consignment
21:55 - Outro

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