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Post by Pete on Sept 23, 2017 7:59:37 GMT
The best way to sell often depends on what you are selling. If you have a stream of similar products, you may choose to stick with only one retailer for simplicity. Using the right tool for the job can often give you an edge and save valuable time. In the end, much of what you will learn comes from trial and error. Artice Here |
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Post by Sandy on Sept 23, 2017 13:32:08 GMT
Let's start with Susan. She purchased 40 new electric toothbrushes at an auction. Susan knows the answer to the first two questions. These are new, sealed products, and she has 40. Also, electric toothbrushes are small, so the box is portable and easy to ship. Next, Susan has to figure out how much she can sell them for, so she first figures out what they cost new by searching the manufacturer's website and a few major retailers. She finds that they average $150. Since they are new, she decides to mark them down 30%, selling them at $105. Susan reasons this will be a good balance between profit and incentive to buy from her, but which medium should she use to sell her merchandise? Realizing that she doesn't want to make arrangements to meet 40 or more different people, Susan decides against Craigslist. Since all her products are the same, she decides to post 20 on Amazon and 20 on eBay, offering free shipping as she reasons that they are small enough to cover the costs herself. This won't take her much time because she only has to create two different posts and update quantities. This also gives her a great opportunity to test out where they will sell better and can move the slower selling toothbrushes over to the more successful medium later.
Over a period of about 11 years, I sold more than 3,000 items on eBay and Amazon, but far more on eBay. My selling model more close resembled that of Susan (above), i.e. buy quantities at wholesale and sell for a profit.
However, some of what the author's illustrates simply constitutes poor planning. One doesn't just arbitrarily decide to offer a 30% discount over retail price, Instead, folks need to do their homework to determine what other similar electric toothbrushes have actually sold for. For instance, if you are asking $105, but others are selling the same item for $85, you are not likely to sell anything. In fact, that is something Susan should have researched before ever buying 40 electric toothbrushes. I know somebody who scrambled to recover her investment after blindly buying from a wholesaler.
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Post by Hank on Sept 23, 2017 17:36:56 GMT
also I expect if a lot of sellers have like items if you have the chance buy with an additional feature.
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