Once you have been selling online for a period of time, you inevitably end up with some slow moving inventory. What’s slow moving inventory? It is the stock that just doesn’t move or moves very slowly in comparison to your other stock items. These items take up valuable space as well as retain the capital you expended in purchasing the items. Sometimes, as the items age, they can become even less valuable and result in further losses. Your business growth could be hampered and even totally stifled by having too many slow moving inventory items. So what can be done to reduce the problem?
What is slow moving inventory?
Slow moving inventory item for you might not be the same for a different seller. Also, how you define your slow movers could differ too. Here are a few basic ways of determining a slow moving inventory item.
Continue reading Slow Moving Inventory: How to Deal with It (Part 1)
OFFER FAIR VALUE
As far as your eBay pricing strategy is concerned, it is important to know the fair value of your item. This will ensure profitability. Your buyer will also be satisfied with the price paid. An easy way to get a feel for what would be considered a fair price is by using an Advanced Search to check through the “Sold” Listings. This will show what a comparitive item sold for previously. You have another way to check if your price is in the ball park. You should always check what current sellers are selling, while determining their eBay pricing strategy. This will give you a good working model to base your pricing structure on so that your sales are optimised.
Continue reading eBay Pricing Strategy
1. Get good DSRs and useful feedback. Honesty is the best policy, when trying to Improve eBay Sales! Make sure your item is exactly what you have advertised and that you offer good customer service. If you lay out all your terms and conditions clearly and simply, making it easy to read and easy to find, it will make your customer correspondence less complicated. Have a FAQ section if the same questions occur regularly. Ensure that there is nothing ambiguous or that can be misunderstood with regards your payment and shipping terms. Highlight your returns policy for ease of reference. Be tolerant and polite in all your dealings. Leave good, clear feedback for your customers and they should reciprocate with good ratings as well.
Continue reading 8 Tips To Improve eBay Sales
As many of you know, eBay is an online selling platform that brings together various buying experiences under one umbrella, despite the vast array of items being sold by different sellers. This also means that until a buyer actually makes a purchase, they won’t really know what to expect from a seller and this can cause a bit of anxiety. Hence the reason why it is so important to keep the buyer at ease by providing an exceptional customer service throughout the entire purchasing experience. Above all, always be friendly, polite and professional in all your dealings with the buyer. A positive and courteous attitude speaks volumes. Being an eBay seller, your online reputation should never be compromised.
Getting the sale
In order to make the sale, ensuring that the buyer’s mind is at ease is very important. One way to show your potential customers that you are serious about what you do is to make yourself available for any questions or concerns they may have.
Continue reading How to provide a great customer service as an eBay seller
How Feedback on eBay affects Your Online Reputation
Whether on not your business uses eBay as a main tool for buying and selling or just as a secondary means, maintaining a good feedback record is important. The feedback on your eBay account serves as an indication of your trustworthiness and your Ebay online reputation. Therefore, if your feedback is not good, then naturally people will not be inclined to do any sort of business with you. Both buyers and sellers have the freedom to leave feedback on each other subsequent to each completed transaction, yet the buyer is allowed to get into more details.
Why Does Feedback Matter?
It is important, given the fact that it is the only indicator of your Ebay online reputation. It pertains to you and your business. For people who do not know you personally or never did business with you before, this is what they will refer to. A total record of your feedback is displayed beside your username whenever you are hosting an auction or bidding for items. It can determine your success in doing business on the site. For instance, if it is a case where several sellers are offering the same goods, then the prospective buyers are likely to go to the eBay seller who seems like a trustworthy candidate based on their feedback.
Continue reading How Feedback Affects Sellers’ eBay Online Reputation
Frankly speaking, there are two main components to running any online trading business. They are demand for your product and your profit margin. Profit margin calculator can help you assess the economics of the potential business. After careful analyzing the demand for a specific product or service, you are in a better position to conclude whether or not the opportunity is worth the time and investment. Once that part is clearly understood, you can more accurately estimate the profits you may earn. However, it all begins with whatever you decide to sell. So before getting into the finer details, let’s quickly look at the steps on how to properly understanding margin and gauging the demand.
So here’s a question. Are there really people out there searching for, or even more importantly, purchasing what you have to sell? Whether you are a seller on Amazon, eBay (Etsy, Shopify, etc) or all – the demand structure is easy to understand. Before making use of our Profit Margin Calculator, you should find out how many people are actually looking for what you have to sell. To do that, use the Google Keyword Planner Tool. However the tool will give you a vague traffic estimate at times,
Continue reading Retail Business on Amazon or eBay: Profit Margin Calculator
Currently, excitement being stirred up around wholesale secondary market goods such as liquidation closeout, liquidations, shelf pulls and customer-returned merchandise. eBay as well as Amazon sellers usually get eager to acquire brand-name products at extremely low prices. Reselling liquidated goods can give way to high profits. There is also a hurdle that must be conquered. Based on personal experience, many sellers in the marketplace are jumping in head first without completely understanding:
- What is liquidation closeout?
- What are closeouts goods?
- Why do goods go for liquidation?
- The condition or type of goods that are appropriate for the respective reselling channels
- Where and who to purchase liquidated products from?
Continue reading Making Purchases in the Liquidation Closeout Marketplace