eBay is one of the giants in the online marketplace that was established on September 3, 1995. The platform has 174 million active users that transact roughly two billion every day. In this article, I?m going to show you how to make money selling on eBay so keep reading!
Therefore, eBay is one of the best online platforms to work with, for it caters to various entrepreneurs reselling their stuff to make extra money, building a scalable business, or growing their side hustle. That means that eBay can work for you as well.
The article will tell you how you can make money selling on eBay.
Why Sell Stuff on eBay
eBay has different members that range from first time sellers, casual sellers, serious entrepreneurs, and dropshippers. The followings are some of the benefits of selling stuff with on eBay.
- The platform has 183 million users; thus, you don’t need to build your business from scratch, for you can join eBay and link up with buyers across the world.
- eBay uses auction-style listing that differentiates them from other platforms. Thus, the bidding process gives users an exciting shopping experience.
- You can make extra side money to supplement your income from this largest global online marketplace. The platform helps you to generate extra money to pay your bills.
- It’s easy to start selling on eBay because you can start with your items, which will be free.
You should, therefore, post several auctions to make a living from selling items on eBay.
What You Can Sell on eBay Stores
You need to do a lot of research for you to be successful on this platform. You can begin this search within your home. For instance, are there items in your garage or attic gathering cobwebs, yet you don’t need them? You can begin by selling such.
Next, you can extend your research outside your home if you want to build a large scale business. The size of your business will depend on time, preference, and capital.
There is no limit to what you can sell on this platform because anything sells here. The following are some of the items that you sell on eBay at a profit.
- Baby items
- Clothes and shoes
- Coffee mugs
- Toys and games
- Fitness equipment
Alternatively, you can ditch niche products and sell what is trending in the marketplace. You can use eBay tools to explore what is hot on the platform or Google Trends to study historical and seasonal trends data. The information will help evaluate consumer demand and determine the best time to list your products.
eBay affiliate marketing program is another way of making money on this platform. Working as an affiliate partner allows you to use the affiliate link to direct buyers to eBay. A commission will be sent to your PayPal account whenever a purchase is made through your affiliate link.
Tips on How You Can Make Money Selling on eBay
Making money online requires time and effort. That means you have to understand the market well. The following are the tips that can help you succeed at eBay.
1.??? Know the Costs
There are many costs associated with online businesses. For instance, selling stuff on eBay attracts listing fees, marketing expenses, shipping costs, and final value, among others. Therefore, it?s crucial to understand how each change affects your sales and factor them in when setting your price on the listings.
You can also seek suppliers with lower rates for high-volume sales then try to match their criteria when selling a single item. Further, you can minimize costly reshipments and returns by choosing reliable suppliers.
2.??? Sell Less Costly Items
You can begin making money on eBay by starting small and growing your business slowly as your understanding and knowledge about the platform increases. That means that you can begin immediately by selling small items in your home that you don’t need.
Extend your search to Facebook Marketplace and Craigslist to find cheap items, buy them, and list on eBay platform.
3.??? Offer Outstanding Customer Service
You can succeed or fail on eBay by the way you treat your customers. A high feedback score will attract more buyers, while a lower one will send them away. The following are ways of offering excellent customer service at the eBay store.
Stay Professional: Misunderstandings are inevitable in any retail setting. Firing back is the worst mistake you can make as an entrepreneur because customers leave feedback after every transaction, and these comments are public. You can counter this by doing your best to help settle the misunderstanding, and these individuals will remain your customer longer as well as refer more.
Be Responsive: You should be readily available to respond to customers’ queries and concerns. The same way you want your supplier to treat you should be the same as you handle your customers. Thus respond to their questions in a few hours.
Select Reliable Suppliers: Dealing with quality, reliable suppliers will save you money, time, and energy. For instance, a dependable dropshipping supplier will notify you early in case of inventory changes, ship products on time, and respond quickly when problems arise.
4.??? Use High-Quality Images
Using high-quality product pictures will help potential customers to find what they are looking for easily. Accurate photos prepare customers for better experience and fewer returns.
5.??? Price Your Products Reasonably
You don’t need to sell your products cheaply to attract more customers instead focus on the eBay listings, shipping fees, supplier’s cost, and your profits. Applying the cheapest pricing plan will get you out of business.
6.??? Do Your Research
Researching before deciding what to sell is wise. The information helps you to understand whether there is a market for your goods. You can study the particular product’s performance on eBay.
Further, seller tools like SaleHoo Labs can highlight top-selling items, their sales potential, their price range, and the list of suppliers.
Mistakes to Avoid When Selling on eBay
Extra Hassle When Ordering: Asking customers to provide a lot of information during the ordering process will discourage them from buying. Simplify the process as much as possible.
Unprofessional Product Presentation: It’s better to hire a professional photographer to take the best shot because accurate images entice potential buyers to press the view and buy button.
Poor Customer Support: Customer is the king; thus, you should always accommodate their questions and avoid a don’t care attitude. Such a treatment will make them move to the next seller.
Avoid Ridiculous Expectations: The online platform is saturated with thousands of videos of individuals claiming to make more than six figures. While this is motivating, don’t expect your online business to take off the same way. However, with commitment and dedication, you can run a successful business on eBay.
Never Run of Stock: As stated above, strive to work with reliable suppliers who can alert you before running out of stock. It isn’t very pleasant to learn that some items are out of stock, yet you have an unfilled order. This will cause you to lose a sale and customer.
Therefore, you can begin selling and making money on eBay. Just jump on eBay.com, create an account, and start selling.