Buying and selling online is becoming very popular and lucrative. In fact, Facebook recently launched its Buy/Sell feature to accommodate this development. It is a huge opportunity for retail operations to sell more product. But before you get into it, there is a whole new language you’ll need to understand so you don’t miss out on any opportunities.
FS – means “For sale”.
Sold – Buyers interested in purchasing an item post “Sold” to indicate they’re committed to making the purchase. Sometimes this is after questions are answered and negotiations take place.
Next – If someone has already posted “Sold” on an item, a buyer can let the seller know they are interested if anything falls through with the sale by posting “Next” or “Sold Next”. This can also be posted as, “NIL” or “Next in Line”.
Bump – is simply used to bring a post back up to the top of a feed so more people can see it.
Porch Pickup—For items priced under $10, some people choose to do porch pick up which means the seller leaves the item out by the front door in a bag along with an envelope or for the buyer to leave the money in.
Pending – this usually means that an item is pending pickup (and may also be displayed as “pp” or “ppu”). People may also post “Sold Pending…(typically an answer to a question.)”
Cross-Posted or XP – means the item or items have been posted to multiple platforms. Typically items will sell faster, the more exposure they get.
ISO – stands for “In search of”… This acronym is used by buyers so either sellers can post their items for sale that match the buyer’s request, or the community can give recommendations on where the buyer can find the item for a good price and for sale by a reputable seller. Similarly, “WTB” or “WTT” can be used. (“Want to buy” or “Want to Trade”)
PM – Sometimes buyers and sellers don’t want to put all of the information out for the entire community to see, so they will “PM” or “Private Message” each other with more information or contact/pick up details.
FCFS – In many cases it goes without saying, but “FCFS” or “first-come-first-served” is oftentimes used for curb pickup or free items.
Acronyms to Describe the Condition of Items
NWT – New with tags
NWOT – New without tags
EUC – Excellent used condition
GUC – Good used condition
Make sure you read the rules of the group or site before posting items. Different marketplaces have different rules so you want to make sure you get off to a good start within all the communities you participate. If you're interested in integrating your eCommerce listings with your inventory POS system, check out PawnMaster's e-foro, eCommerce power lister.