Is it still worthwhile to sell on eBay?
With all of the new eCommerce sites, is it still worthwhile to sell on eBay?
Yes, indeed! When done correctly, eBay may be a lucrative side venture.
At the same time, it has limitations that are fully preventable - and we'll show you how to avoid them with relative easy.
Everything from collectibles to jewelry and leftover clothing has a market if you can find a buyer.
Let's take a look at some of the top eBay selling tactics for turning the platform into a lucrative online venture.
WHAT EXACTLY IS EBAY?
eBay is a well-known online auction service started by Pierre Omidyar to connect buyers and sellers in an open marketplace. eBay, which began as an auction website, is still a strong eCommerce platform, ranking second only to Amazon.
eBay is well recognized for its consumer-to-consumer transactions and auctions, and it is one of the oldest eCommerce websites. It is also one of the first organizations to use a website to connect buyers and vendors. Over two decades later, eBay remains one of the most important markets, particularly in specialized sectors such as collectibles.
Here are some eye-catching statistics:
According to recent figures (July 2022), eBay is the second most frequented eCommerce website in the world, with 590 million visitors.
With 307 million unique monthly visits, eBay ranks second only to Amazon as the retail site with the greatest mobile traffic.
The firm, which was founded in 1995, does not sell any things directly; instead, individuals can advertise their products for sale.
eBay also serves as a sales mechanism for other major players, including:
Apple
Samsung
Asus
Diane Von Furstenberg: a fashion designer.
Nintendo, among others
eBay has expanded from its humble origins in a small home room to a multi-million dollar enterprise with millions of transactions every day.
Opening an eBay account is completely free. Depending on the size of their store, sellers can choose between a personal account and a business account.
As a seller, you must pay listing fees, which vary depending on the price of your items and the length of time they are listed.
HOW COME EBAY IS STILL A GOOD SIDE HUSTLE?
Despite the fees, eBay is one of the most popular eCommerce sites in the United States. According to our analysis, eBay is one of the top eCommerce sites, accounting for 10.29% of all visits, trailing only Amazon.
But the question is whether it is still a good side business.
eBay is a booming side venture for millions of Americans, particularly those who sell collectibles and specialty items, thanks to its worldwide reach and enormous marketplace. So you may sell those old figures you've been collecting.
Furthermore, with operations in 190 countries and 138 million buyers, eBay is genuinely global. By inputting your zip code, you may buy/sell things locally, nationally, or even globally.
eBay's customer service ranks among the top e-Commerce platforms for both customers and merchants.
eBay can assist you in developing your brand identity. People from all walks of life may earn quickly since there are few to no barriers to entrance.
Top Tip: Flipping is one of the most successful eBay methods. Many eBay success tales come from people who resale flea market treasures.
WHAT IS THE MOST EFFECTIVE WAY TO SELL ON EBAY?
The vast majority of eBay vendors have no knowledge how to sell on the marketplace. So, whether you're selling clothes to create room or to generate additional money, it's wise to understand the ropes and do your homework before spending too much money.
Here are a few strategies to save money when selling on the platform:
USE ZIK ANALYTICS TO FIND THE BEST EBAY PRODUCTS
When you initially start selling on eBay, you are limited to 10 things. As a result, it's vital that you establish a successful niche for your eBay Store.
Zik Analytics is product research software that assists in the discovery of the greatest items in a couple of minutes. More than 100,000 eBay merchants utilize the site, which was founded in 2016.
It not only identifies things to sell on eBay, but it also:
The most popular niches are determined.
Determines whether there is still demand in these popular categories.
Examines the competition
Obtains price analyses and keyword data
Above all, Zik Analytics gives crucial indicators to assist with eBay product research and identifying which goods are selling quickly and why.
KNOW YOUR CLIENTS
Understanding the buyers and their needs is the most important stage before starting your eBay business. It provides you a lot of information about what they're looking for and their hobbies.
Understanding your customers may make or destroy your eBay shop. It also distinguishes you from other merchants on the marketplace.
Buyer persona research can be beneficial:
Find a product that is in high demand.
Increase your revenue.
Obtain recurring and loyal clients
PRICING BASED ON COMPLETED EBAY LISTINGS
Pricing items is a key difficulty for novice eBay sellers. If you overprice it, you may not get any sales, but if you underprice it, you may not earn any profit.
So, as a newbie, how do you price your product? The simplest method is to manually verify the cost of items sold to calculate your price.
Another alternative is to leave your price to eBay. While this may suffice in an emergency, it will not provide the precise results of manual research.
HOW TO FIND COMPLETED LISTINGS
Finding completed postings is time-consuming human labor. However, the findings are correct and may be appealing to your consumers.
Look on eBay for products you want to sell.
In the left-hand panel, navigate to the "References Section" and choose "Completed Items" under "Show Only."
This narrows the results to only the sold listings.
Look for successful eBay listings that are similar to your shop and of the same quality.
This will give you an estimate of how much eBay shoppers are willing to spend.
MAKE SEO-FRIENDLY PRODUCT DESCRIPTIONS
Oberlo estimates that there are 1.7 billion active eBay listings at any given moment.
As a result, unless your product descriptions are SEO-optimized, they are likely to get lost in the large sea of other things.
Make sure you go into information about the goods you're selling, such as the color, model, size, and condition of the item.
Frontload your description with the principal keyword, general search phrases, and product-specific search terms.
While particular phrases assist the consumer in narrowing down your goods, generic terms guarantee that your product is also featured for a larger audience.
Include the product's qualities and benefits so that the customer has a complete image in words.
TAKE EXCEPTIONAL PHOTOS THAT STAND OUT
From Instagram to Facebook, every network is focused to images. As a result, high-quality optics are essential for every eBay listing.
According to eBay research, listings with high-quality photographs are 5% more likely to sell than those with no or poor-quality photos.
And, while 5% may not seem like much, when you're competing with over a billion listings, every little advantage counts.
3 TIPS FOR SHOOTING EBAY PRODUCT IMAGES
A high-quality image guarantees that your consumer will return. But, of course, one excellent shot that captures all of the details is far superior to 10 blurry images.
Here are some tips and strategies for taking high-quality photos with your smartphone:
1. DO NOT USE STOCK PHOTOS
Buyers are becoming more aware and may not trust other sellers who use apparent stock photographs. Instead, take it upon yourself to photograph your goods to market it.
Furthermore, unique high-quality images allow you the creative flexibility to establish your brand's image.
2. TAKE PHOTOS OF YOUR PRODUCT AGAINST A SIMPLE BACKDROP.
In a well-lit environment, always choose a basic and neutral backdrop. A crowded background might divert shoppers' attention away from the item you're selling. Furthermore, a basic backdrop aids in editing (retouching).
Clothing and accessories look great on a white wall.
A neutral-colored sheet draped over a table provides a basic backdrop for displaying merchandise.
3. TAKE PICTURES FROM DIFFERENT PERSPECTIVES
Photograph the thing from many angles to catch all of its features. This allows purchasers to quickly picture the goods and make a decision.
Top Tip: On most modern Smartphones, you can also utilize Macro mode to capture even the smallest detail.
IS IT WORTH SELLING ON EBAY AFTER WRAPPING?
Is it still worthwhile to sell on eBay? As we've seen, eBay is still a terrific way to start your eCommerce site, or just to sell some great stuff you acquired at the local flea market if you want to start small.
It does not necessitate a large investment; anything from a few dollars to $100 (or even more if you can afford it) will suffice.
The nicest thing about eBay is that it is a seller-oriented site, which is extremely beneficial for arbitrage merchants.
The site has long progressed beyond simply being an online garage sale where you can sell unused and unwanted stuff in your home.
It's currently a well-known eCommerce portal for specialist categories like collectibles and vintage things.
The main takeaway is that studying the desired market and selecting the correct tools are critical to running a successful eBay business. Only after conducting extensive study can you opt to sell on the site.
However, if you play your cards well, there is gold to be discovered here. The number of eBay millionaires increased by more than a third in 2020 alone.
If you follow our advice above, go deep into your initial research, and offer trendy products, you may be the next eBay sensation.