PROPER RESEARCH IS AN ABSOLUTE MUST
Research requires due diligence on your part, spend time with research. You must know the average selling price on eBay of the product you have decided to sell. On the main search page, located to the right of the search button is an [Advanced Search] button. Next, open the Advanced Search link, enter a keyword(s) for your product.
Select a category, check the Completed Listings button, then Search. Now what you have on your screen are items that have recently closed on eBay. The products which have Sold will be highlighted Green. The products that did not sell, you will see highlighted in Red or Black. The Red items are unsold Auctions, the Black items are Unsold Buy it Now items. Take this data and place in an excel worksheet that you might review in future.
Research requires due diligence on your part, spend time with research. You must know the average selling price on eBay of the product you have decided to sell. On the main search page, located to the right of the search button is an [Advanced Search] button. Next, open the Advanced Search link, enter a keyword(s) for your product.
Select a category, check the Completed Listings button, then Search. Now what you have on your screen are items that have recently closed on eBay. The products which have Sold will be highlighted Green. The products that did not sell, you will see highlighted in Red or Black. The Red items are unsold Auctions, the Black items are Unsold Buy it Now items. Take this data and place in an excel worksheet that you might review in future.
SHIPPING IS ANOTHER CRITICAL STEP
eBay buyers have become quite attuned to shipping fees. eBay sellers of old, many times would list a spectacular price on the item. When the buyer went to pay, whoa, shipping was astronomically high (packing in more profit). Many buyers now search for products that promot Free Shipping, this offer gains respect of buyers. Repeat sales can be a future result of Free Shipping, or low priced shipping.
Being fair with your shipping fees can increase sales by word of mouth and repeat business. If you know that you can ship a product for $5.36, pack a couple of dollars into your sale price and offer Free Shipping. Or charge only $2.19 for shipping. This gesture will go a long way to build your reputation and client base.
If THERE IS A DEMAND FOR THE PRODUCT SELL IT -- NO DEMAND, NO SUPPLY
There must be a demand for any product you wish to sell on eBay. Prior research is a must before any listing follows. If the demand and profit margin are not in line, you may have a shelf full of product that does not sell. Frozen capital will ruin, and severly hurt any business. Enough frozen capital and the business fails. If someone offers to sell you product "X" for $10.00 each, 100 count. You do your eBay research and find that in the last sixty days, only 1 sale was made of 50 offered on eBay, selling price $10.50. You will have a problem on your hands. 50 problems to be exact. Product "X" should not be purchased.
It is recommend to get off to a good start, find a Dropshipper, a legitimate Dropshipper. With a dropshipper, you do not have to stock any products. Just sell the product, and the dropshipper will send to customer for you. You just collect the profits. Yes, I said legitimate, many so-called "Wholesalers" are retailers in disguise. They give minimal discounts off of retail price, but you are not getting true wholesale pricing. Do a Google search for Wholesale Sources, or Dropship Wholesale, perform your due diligence and deal with a wholesaler, not a middleman.
eBay buyers have become quite attuned to shipping fees. eBay sellers of old, many times would list a spectacular price on the item. When the buyer went to pay, whoa, shipping was astronomically high (packing in more profit). Many buyers now search for products that promot Free Shipping, this offer gains respect of buyers. Repeat sales can be a future result of Free Shipping, or low priced shipping.
Being fair with your shipping fees can increase sales by word of mouth and repeat business. If you know that you can ship a product for $5.36, pack a couple of dollars into your sale price and offer Free Shipping. Or charge only $2.19 for shipping. This gesture will go a long way to build your reputation and client base.
If THERE IS A DEMAND FOR THE PRODUCT SELL IT -- NO DEMAND, NO SUPPLY
There must be a demand for any product you wish to sell on eBay. Prior research is a must before any listing follows. If the demand and profit margin are not in line, you may have a shelf full of product that does not sell. Frozen capital will ruin, and severly hurt any business. Enough frozen capital and the business fails. If someone offers to sell you product "X" for $10.00 each, 100 count. You do your eBay research and find that in the last sixty days, only 1 sale was made of 50 offered on eBay, selling price $10.50. You will have a problem on your hands. 50 problems to be exact. Product "X" should not be purchased.
It is recommend to get off to a good start, find a Dropshipper, a legitimate Dropshipper. With a dropshipper, you do not have to stock any products. Just sell the product, and the dropshipper will send to customer for you. You just collect the profits. Yes, I said legitimate, many so-called "Wholesalers" are retailers in disguise. They give minimal discounts off of retail price, but you are not getting true wholesale pricing. Do a Google search for Wholesale Sources, or Dropship Wholesale, perform your due diligence and deal with a wholesaler, not a middleman.
About the Author:
Johnathan Z Moore has been involved with Internet Marketing since March 2001. To help your success on eBay, he is giving away his eBay Mini Course at No Charge. Sign up with following link FREE 7 Day eBay Success Mini Course To find Pre-Screened legitimate Suppliers follow this link Wholesale and Dropship Sources
0 comments:
Post a Comment