Monday, January 25, 2016

Five Ways to Grow Your eBay Profits in 2016

2015 is coming to an end and it’s time to make plans for increasing your profits on eBay.  There are hundreds of different ways to do this, by seeking ways to reduce your eBay selling fees, for example, or cutting your product acquisition costs, choosing and testing a lower cost delivery company, creating more responsive eBay listing titles and descriptions, and more besides.

My own most successful New Year resolutions are based on locating products likely to attract higher profits or more regular sales than products I’m currently selling on eBay.

Here are five ways to copy my objective:

* Sell goods people want to receive the following day and don't wish to spend time on comparison shopping. But lots of eBay sellers target this type of buyer, so you must get potential buyers to favour your listings. This can be done by giving bonuses and offering better service and faster delivery than others are offering.  Virtually any product fits the bill here.

* Spot a need and fill it, especially one not already being met on eBay. The stronger the need, the more likely people will pay for a solution.  Examples are numerous health & beauty products, such as pimple removing creams and acne treatments, unusual and one-of-a-kind gifts and novelty items, fad and gimmicky items, flood defences like sandbags, dog coats when winter weather arrives without warning, and so on.

* Provide luxury goods at low prices.  When people are made redundant or can’t find jobs, it’s luxury goods they will cut out first, such as brand new current season designer clothing and accessories.  But people who balk at secondhand or last season designer labels during good times might be less finicky about buying secondhand when money is in short supply.   

That’s when you might consider selling last year’s designer clothing and accessories, alongside secondhand car parts, moneymaking books and courses, used toys and baby hardware (prams, cots, garden swings, etc.), refurbished household goods and ornaments.

* Stock goods other people don't like selling or are too embarrassed to sell. I'm thinking here of things like hair nose clippers, shoe stuffers to make you look taller, adult sex toys, marital aids, and so on.  You may not enjoy the selling but you will like the profits.

* Choose repeat sale items over one time sales, especially items needing constant replenishment. The hardest work for any seller, the biggest expense and the highest risk goes to obtaining first time buyers. That's why it makes no sense at all to constantly seek new buyers when so many products have inherent repeat sale and replenishment value.

Suitable product include: soap, make up, children's clothing, packaging, annual price guides for antiques and collectibles and numerous other goods and services, craftwork materials, collectibles issued in sets, and so on.

No comments: