How To Start A Successful Ebay Store

How To Start A Successful Ebay Store – Whether you run a brick-and-mortar retail store, are looking to sell online or are looking for supplemental income, the continued growth of ecommerce offers opportunities for reliable revenue streams.

Short of selling on the online avenue, Influencer Market offers a perfect opportunity to launch an omnichannel sales strategy.

How To Start A Successful Ebay Store

How To Start A Successful Ebay Store

EBay was one of the first online marketplaces, and it’s one of the simplest marketplaces to start with.

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Let’s take a look at how to efficiently set up a business on eBay primed for success.

There are different ways to choose products to sell online. Unless you have the opportunity to sell heavily discounted and/or unique products, it is advisable to spend time researching the best and most sustainable product opportunities. Terapeak is a research tool owned by eBay that allows you to access years of real sales data for millions of items.

Look for products to source that give you the leverage to make a profit. Objectives include:

Other techniques include researching seasonal catalogs for high-margin opportunities and researching products in under-served categories by looking at category search volume in relation to the number of available listings.

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Once you’ve figured out what products to sell and how to source them, it’s time to narrow down the opportunities by considering logistics.

You need to make sure that you have a complete view of the costs associated with selling online. Depending on the number of products that will be included in your catalog and how much inventory will be stored, it is worth researching fulfillment and storage costs.

Once you’ve gathered dimensions for samples of products, you can estimate shipping costs by using sites like Uline for packaging and USPS for shipping rates. If you’re considering renting warehouse space to store inventory, it’s worth researching reputable 3PLs to handle inventory storage and fulfillment.

How To Start A Successful Ebay Store

In our experience, only a fraction of a merchant’s online product offerings account for the majority of earned revenue. While catalog variety can help highlight your best-selling and highest-margin products, keeping it organized in a simple way will eliminate some operational overhead as your business grows.

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If you don’t have experience selling on eBay at this point, it’s worth testing some of your assumptions by starting a few listings manually to get a better understanding of how the market operates.

Now that you’ve done your research to determine which products you’ll sell and have some clarity around the revenue opportunity, you can start organizing your inventory for easy maintenance.

To get started, we recommend assigning all your products with unique SKUs (stock keeping units). This can be the manufacturer’s part number or another common identifier for the product.

The purpose of assigning SKUs is to give each product a unique identity in your catalog. It can also be used to set a custom label/SKU in eBay’s Selling Manager.

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If you sell products that have variations such as unique shapes and colors, be sure to group the products by a single parent SKU so you’re ready to create variations on eBay.

If you have products that will be sold more than once or in volume, it is important that you maintain the correct inventory levels in your inventory.

Overselling products is one of the most common ways sellers lose their online reputation. Consider investing in an inventory management platform as soon as you see sales traction – especially if you sell on sites or marketplaces other than eBay.

How To Start A Successful Ebay Store

Next, be sure to use eBay’s business policies to set up profiles for shipping, payments, and returns. The more products you sell, the more granular segmentation you can do for your inventory and policies.

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For example, let’s say you just sold two dozen SKUs. You can organize them into simple high-level buckets like product category or brand and be able to manage all product inventories with one set of payment and return policies.

Shipping setup will have a significant impact on the profitability and success of your eBay listings. Offer free shipping whenever possible for high conversions, and consider a general strategy of building shipping costs into product pricing.

From your logistics research, you should be able to determine a set of shipping profiles that accommodate your entire catalog. Keep profiles simple to get started and as your business grows, you’ll have opportunities to modify policies for maximum benefit and success.

Now you’re ready to start collecting product assets to create lists. Whether the products for sale are widely available, newly released or custom will determine if you will be able to list through the eBay product catalog or if you will need to source the data elsewhere.

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Once you’ve gathered your product data and set pricing and merchandising policies, you’re ready to create product listings.

If this is your first time listing and your catalog contains products in many different categories, you can test a single product in each category and create sales templates.

If you sell more than a few dozen products, you might consider listing through third-party software or trying eBay’s wholesale listing tools.

How To Start A Successful Ebay Store

Now that you’ve listed your products and hopefully gotten some orders, you’re wondering how you can increase sales.

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There are many factors that affect your growth – many of them related to product listings, especially if you are not listed through an eBay product listing. Feedonomics can help you discover everything you need to know about optimizing your eBay Promoted Listings. Here are some other aspects of your list that could benefit from optimization:

Consider a program that creates user-friendly titles; For example, brand + title + part number (or other specific).

When selling products with multiple configuration options, consider including them. For example, if you sell mobile phones, include the wireless carrier for sale and other details of the phone model.

Buyers’ expectations are only increasing. Consider offering free shipping, and building shipping costs into product pricing whenever possible. You can rank higher in searches when you offer fast and free fulfillment.

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Although many item descriptions are necessary, taking the time to put up recommended ones will lead to many more appearances in buyer searches.

If you’re using manufacturer photos that don’t clearly describe the product, adding high-quality photos will improve your listing and differentiate you from the competition.

There’s more to being successful on eBay than selling the right products and optimizing your product listings. Some are factors within your control, while others may require navigating your relationship with eBay to speed up your marketplace sales.

How To Start A Successful Ebay Store

Your first sale on eBay will be the most important to get traction. To begin with, make sure you complete orders quickly and on time and pack items securely. And, again, be sure to maintain accurate inventory levels so you don’t oversell products.

How To Start An Ebay Business

Consider including additional packing materials with the packing slip as a thank you note, or a flyer with discounts or product information to help differentiate your brand. Once shipped, be sure to mark orders shipped on eBay immediately so your buyers are notified.

Positive reviews are one of the fastest ways to build your seller reputation. Once you confirm that the customer has received the package, immediately ask for their feedback. To do this, you can include the request on packing slips, send a message to the buyer after the sale, or leverage third-party software that automates requests.

Depending on the products you’re selling and their source, aspects of your operations can be time-consuming and error-prone.

For example, if you are sourcing products from a third-party wholesaler or manufacturer, there may be operational overhead to order products for sale or to generate purchase orders for reordering. Inventory control and order fulfillment—the two most important aspects of maintaining a seller’s reputation—can also pose challenges.

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Automation can help reduce the risk of error and the opportunity cost in effort expended. While you may not need to worry about automation when you start selling on eBay, it’s never too early to consider which processes will consume your most time and be at the highest risk for error.

You may want to consider third-party shipping software to help automate shipments and label creation—especially if your catalog is diverse and your customers have shipping preferences.

To manage your purchase orders for suppliers, it may be worth investing in software that uses your eBay order data to send purchase order emails or submit order forms to third-party websites.

How To Start A Successful Ebay Store

Even if you’ve successfully completed the above steps and are generating new sales on eBay, you may still encounter common obstacles to accelerating your growth.

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One of the obstacles is the eBay selling limit. As a brand new business and online seller, there may not be many opportunities to bypass these limitations without first gaining a reputation over time. However, eBay may make exceptions on a case-by-case basis, such as if your business has earned a reputation on other channels or offers a special, high demand.

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