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Aneth Ng-Lim, Paying It Forward

Aneth Ng-Lim

<div><span class="fr-img-caption fr-fic fr-dib"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/172532540827820221217-divisoria-christmas-rush-GC-2.jpg" class="fr-fic fr-dib"/><span class="fr-inner">People flock to stalls and shops in Divisoria, Manila on December 17, 2022. With exactly one week to go before the Christmas weekend, people rush to buy various gifts and goods for their loved ones. <em>George Calvelo, ABS-CBN News</em></span></span></span></div><p>The BER months are here and that means the start of holiday shopping for many.  Bazaars or tiangges are a great way to scout for gifts for all the people on your list, from young to old, to girls and boys, to family and friends, and just everyone who is near and dear.</p><p>But have you tried to be the one selling instead of shopping?  I’ve been to many bazaars to shop, but last weekend, I decided to try my hand at selling.  Our community’s senior citizens came together to organize a small bazaar and invited its members to sell their wares for the weekend.</p><p>I’m not a member yet but my Mom is so I signed her up for a weekend of bazaar adventure.  Grateful for the hardworking and efficient organizers whose planning made it easy for newbies like us to just show up, display our items, and start selling.</p><p>Now, I wish I could I tell you we made lots of money, but over two days, we did not even hit five figures.  But it was a great experience and we are raring to sign up and join again, better prepared with learnings I am sharing here, in case any of you are also game to try.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/ZgVnOXgmxkI?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><strong>#1 Location matters<br/></strong></div><p>This is true for the bazaar and also your spot.  Ours felt like a destination place, so we did not get a lot of foot traffic on Saturday and even on Sunday.  But the ones who came were at least ready to spend and shop, so I believe we all had customers.  When choosing which bazaar to join, try to see if the location will be accessible to commuters and has ample parking.</p><p>You also need to pick a good spot for your stall.  The best spots are the ones near the entrance, or those within the line of sight of customers as they walk in and browse.  You want to avoid having pillars blocking the view to your products, or being in a place that’s off the shopping path.  At our bazaar, there were 3 spots that were bigger than the rest, but shoppers needed to pass all of us, and then make a detour, before reaching them.  Sadly, some shoppers skipped the detour and headed for the exit.</p><p>No food was allowed to be sold in ours, but I heard from other sellers that you want to stay with your own kind.  If you are selling food, you should be in an area with other food sellers plus small tables for customers.  If you are selling clothing, stay away from all that oil splatter and cooking fumes.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/IioGZgNhpFs?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><strong>#2 No (or little) capital and all gain<br/></strong></div><p>We paid so little for our bazaar stall, plus an overnight guard and a contribution to the seniors’ fund that even if we did not sell anything, it would be okay.  Plus all of our “products” came from our homes (my Mom, my sister’s and mine).  They included brand new items, some with tags, gently used personal accessories, and even a few furniture items.  So you can say we had no (or little) capital invested, and could only earn extra money plus the bonus of decluttering our homes.</p><p>When joining bazaars, you need to do the math to make sure you don’t lose out. How much will it cost to join, salaries of the people you will hire (we didn’t get any) or your “fee” if you have to skip work to watch your stall.  After you have an idea of the capital you will put in, check to see how much you need to sell to make a profit.  For some, it’s not enough to just make any profit – they want to hit a number so if it’s a long shot, consider before signing up.</p><div><strong>#3 Be ready for bargain hunters and low ballers<br/></strong></div><p>Some shoppers are quite aggressive at asking for bargains that it can already be considered offensive.  Discounts are fine, but when you ask for half the sale price, maybe you should not be shopping.  One came back again and again so we decided to give in, but right after, I wished we didn’t.</p><p>But this is the bazaar mindset – we go to bazaars to get the best deals, and haggling is part of the experience. So we adjusted our strategy and noted the items we are okay to slash prices, and then the ones with fixed prices.  It can be confusing so we wrote down a cheat sheet for reference.</p><div><strong>#4 Offer Cash and Cashless payments<br/></strong></div><p>We were told to prepare QR codes to accept cashless payments.  This is more hygienic and also no need to worry about giving change.  But with such low prices – P50, P80, P100, P200 – shoppers came with cash so we also had to give out change.  </p><p>As sellers, you need to be ready to take any form of payment to make that sale.  I had to turn away a shopper buying a P100 item with a P1000 bill and that hurt.  I could have sold shades that I bought and never used (because now I know shades are something you need to fit and see if the style works for you).  </p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/LdpWvrR4OvM?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><strong>#5 Resist the bazaar temptation<br/></strong></div><p>Our bazaar had such a friendly atmosphere so the sellers would also go around and buy from one another.  One joked that she ended with a negative balance sheet, as she spent more over the two days than what she earned.</p><p>As a seller, it can be convenient to look around and also shop, but I tried really hard to resist the temptation.  We are decluttering so we did not want to bring home more items.  But I admit that some were such great bargains that who could possibly resist.  </p><p>Whether you are selling or shopping, make sure you always get the best bazaar deals.</p><div><br/></div><p>ABOUT THE AUTHOR</p><p>Aneth Ng-Lim returns to writing after more than two decades of working as a communications specialist in the government and the private sector. Her advocacy for financial inclusion and personal finance began when she served as head of Consumer Education during her stint at a multinational bank.</p>

<p>The BER months are here and that means the start of holiday shopping for many.</p>

Want to earn extra cash for the Christmas holidays? Here's an idea

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Want to earn extra cash for the Christmas holidays? Here's an idea

Aneth Ng-Lim

Published Sep 03, 2024 09:03 AM PHT

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Updated Sep 03, 2024 11:23 AM PHT

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