Monday, May 30, 2016

May 2016 Our Best Month Ever on eBay



HAPPY MEMORIAL DAY ONLINE SELLERS !


Last year we made a whopping $416.00 for the entire month of May 2015 with 456 items listed and we were being pretty lazy as we listed nothing for the entire month. I had expected close to the same this year as we have only increased our store by 400 listings over last year.


To my amazment this year for May we have sold 91 items and made $2106.00 on ebay and still have 2 days left, WOW !

We are headed out to enjoy Memorial Day festivities with family so I don't have time to say alot but I just wanted to share this with you all. The only thing that has changed between then and now is how much time we are investing into ebay.

Steady steady steady listing. Nothing big, no expensive items, lots of $7 to $10 profit stuff but it all adds up. I hope your all having great sales and we both wish you a very Happy Memorial Day !

Thanks for coming by !
Tony

Friday, May 20, 2016

New eBay Supplies, A First Look

I am absolutely LOVING the new eBay branded supplies. I got my first FREE 24 rolls of eBay tape and thought I would share with you guys how I am using it. The only time I am having to use my own tape is to put my backup tracking number on the backside of the package which I do on every single package I send out in case the original mailing label gets wet and obsured while in route to it's destination.





 
We can only use our coupon once every 3 months so since packing tape is our biggest expense we chose to use the whole coupon on packing tape and I have to say it looks pretty cool. I will warn you however this tape has a terrible odor to it, lol. 

Just wanted to throw this out there in case you haven't got a chance to see what the tape looks like. It fit just right on one of my standard Duck Brand Tape roll holders. Those are the green ones you see in the pics. The top one by the sissors is the ebay tape.

This was a genius move by eBay, this is a really cheap form of advertising for them and we have already got several comments from people seeing all the eBay labels asking us questions about eBay, like do we do much shopping on eBay and how do we like it? It always surprises me that there are still people out there who either don't know about eBay or haven't shopped there.

Anyway that's it for now, me and Deidre are taking a little 3 day vacation, just going to goof off for a few days and forget about everything for a while and relax. That's the really cool part of being your own boss, you can take time off anytime you feel like it.

Sales have slowed down this week but still not as much as I have expected. We have done a little over 260.00 this week already and haven't even got to the weekend where we usually make our best sales. I want to thank you all for coming by and taking time to read up on our little retirement experiment. 

So far we still have a roof over our heads,  the lights are still on, the phone still works and we haven't missed a meal so I guess we are doing ok :-)


Thanks for coming by !
Tony





Sunday, May 15, 2016

Strong eBay Sales Continue to Dominate May 2016

We continue to experience extremely strong eBay sales into Mid May 2016 which is breaking all our sales predictions based on years past. I have tried to identify exactly what is different between now and then but frankly I am at a loss.

The only change we have made is in the sheer number of listings we are doing per week now compared to then. We sell clothing and it's not even high end clothing, you can't get that stuff where we live. We continue to learn what kind of clothes we can find and sell from our area even if it's not for a great deal of money.

Even with growth of knowledge on low end clothing that is not enough to explain the abnormally strong sales as opposed to previous years. I have read other blogs and watched others sellers videos and have seen about a 50/50 opinion on whether the number of listings deeply affects sales.

Jay and Ryanne at Scavengerlife.com recently talked about having some really bad weeks of sales with nearly 4000 items listed but they had not listed in a while so it really leads to the conclusion that the number of listings you have may be less important than how often you introduce fresh product.

We have less than a quarter of their listings and sell our items for way less than they do and yet we exceeded their sales on the weeks they did not list so there may be some credence to that conclusion. They began to list again and their sales once again began to rise.

The biggest obstacle seems to be time. There are only so many hours in the day, so how many items can you list in a day? 10, 20, more ? The more you list the greater your return and that affords you more and more inventory to feed back into your business so your business would continue to grow until you simply reached your max time limit. 

Well anyway that's my view on what's happening.

For week ending 5/14/2016 we sold 23 items for 536.00 with 790 items listed. We have had no returns for the last 2 months. Our return rate continues to run below 1% and that feels pretty good. 


Monday, May 9, 2016

Making eBay's Best Offer Work Flawlessly

When eBay instituted the Best Offer option they really gave us a great tool and it works great in most cases, you accept an offer, the person pays and that's it but what happens when they don't pay? Your item is in eBay limbo for weeks while you try to resolve the problem and in most cases the buyer simply does not pay and gets a strike against them but since they are a zero or low feedback buyer they don't care.

So how do you avoid this little pitfall ? Well the solution we came up with may or may not suit you but it works for us and it works 100% of the time. So when someone sends you a best offer you get a chance to see the person's feedback and that is key.  If the buyer has less than 20 feedbacks then what we do is decline the offer and "Revise" the item where we change the items price to the price the buyer wanted and remove the best offer option. 

We then write to the buyer and tell then we accidently hit decline on their offer when we really wanted to accept it but we have a great solution and have changed the items price to the price they asked for and provided a link to the item. Then they can buy it or not but if they do buy it now they are required to pay immediately so no more low feedback buyers scamming us.

We have not had any buyers with an active feedback history of 20 or more give us any payment problems so we accept those on the spot. If they have not bought anything in a long time and have feedback between 20 to 50 then we use the revise method on those buyers as well.

So far we have had a 100% success rate using this method on our best offers so I thought I would share that with you guys. You could always alter this idea in your own way but it really solved a big problem for us. There seems to be groups of buyers that make accounts just to take out items using best offer as a means and whether they are scammers or competitors, the problem exist. 

First week of May 2016 was gangbusters, still waiting on the slowdown we experienced last year so that may yet come, we don't know. For Week 1 of May ending on the 7th we made 586.00 on eBay, average price around 22.00. 

One last thing on Best offer, Jason Smith from Thrifty Business with Jay and Nay had a great suggestion of pricing your items at least 20% higher than the price you want when using Best Offer so the buyer can get you down a little and feel like they are getting a good deal when they are really just getting the price you wanted all along.

See Ya !
Tony