The Secret to increasing sales is...

[krazzykats]

REDUCE YOUR PRICES!

I was reminded the other day, to turn merchandise into cash asap with lower pricing. 

eBay was once the place you went to for great prices.  So what happened to all the great deals?  And could we get that eBay back?

Retail stores are beating online pricing.  

Meanwhile:

Shipping costs went up.

Sales taxes were added.

Other sales fees went up well.

Supplies, labor, etc., all went up.

[rabites-n-chocobos]

This is a market, I think most people here know basic economics. We're all sellers.

Also....youre wrong

[ajs_coins_and_alchemy]

Here's another idea, keep an eye on your market. I listed a handful of items from a super niche baseball memorabilia category -- out in left field compared to my main market I sell in. Literally like 100+ yr old baseball "cards" (felt squares) made for only 1 year in 1914. It's super niche but highly collectible. I gave them very little thought in the proceeding months. I sold one every week or two, it was decent for a market that sells no more than like 1 or 2 per day. No one is selling 100's of these daily.

Well i havent sold any in a while. I went back today and realized it looks like the floor fell through in the market and prices dropped. Same sellers, same type of items, prices significantly went down, while here I am looking like a donkey's rear end with my prices way above my competitors. Hmmm... maybe i should keep a better eye on the market/space I'm selling in. Now I'm going to give them serious thought and serious review. I sold well til recently and thats probably why. Idk why prices dropped. Less demand? More supply? Guessing demand issues, because supply of flimsy fragile 100+ yr old items produced for a limited time is not ever going to increase 😅🤣

[chapeau-noir]

@ajs_coins_and_alchemy  Being in the fashion category I'm very familiar with something (brand, style, etc.) just falling through the floor.  I try not to list too much instant mainstream fashion just because of that, but rather unusual pieces, traditional world clothing, artwear, solid standards that people always need, etc.  Even then suddenly there's a dump - vintage coats was one, not making too many of those anymore, either!  I also think it's demand, which can really fluctuate.

[ajs_coins_and_alchemy]

@chapeau-noir I hear you! Good thing these were family heirlooms, been in the family since they were originally released in 1914. My 93 year old Grandma gave them to me and asked me to sell them on EBay ... (actually how I got my start on here in March/April). She told me she would be super happy if she could get like $5 a piece. Was mind blown at the idea of getting $20 for some of them. We had a total of 19, I sold one for just shy of $600, cheapest one sold for $25. I have 7 left, they average $50 each if you exclude the astronomical $600.... Honestly, if prices drop, it doesn't really matter, we just want to liquidate them as they have sat on a shelf in her closet since 1985. 

My main business is coins and prices don't fluctuate too much, just a small rise and fall with the spot price of silver ... I normally don't worry about market prices in that way and I move my inventory fast enough that longer term fluctuations don't even come into play, I'm buying and selling in the same market time frame. 

I guess silver is more "essential" (inflation hedge) than 100+ year old baseball memorabilia LOL. demand in that market is probably effected easily since it is SOOOO niche. 

Hey, you'll be out of business soon selling clothes with the way things are trending. Go to the grocery store, it seems like people are wearing less and less. My grandma said today "what happened to the day when people wore suits and ties??" and I said "today you're lucky if they wear ONLY a tie".

[mam98031]

That works sometimes, but believe it or not so does raising your pricing.  Yes sometimes that works too.  I've done it on a few select items and I'll be darn it worked.  I certainly wouldn't do it on everything but just sometimes it is a good thing.

Now these USPS increases could be a real problem but nothing we can do about them but raise our pricing.  But two increases so close together may just cause an issue with buyers.  So far for me the July increase has not hurt me, but come late next month when I change them again for the next increase, it could be different.

[mam98031]

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@tsme35 wrote:

Yep, I find older, no longer made fishing gear. Most sellers of new stuff are competing with the "river" who can have it delivered the next day compare to 1-5 days by USPS.

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You can say Amazon.

[coolections]

A prefect example would be Beanie Babys. There are hundreds of other items that also dropped. Can you imagine keeping your price at $150 for a Beanie Baby that no one wants to buy for more than $10 ? Someone mentioned if you lower your prices you might as well go out of business. Well, if you do not lower your prices you WILL go out of business as other sellers will take all the buyers.

[blingfling123]

That is why I do not sell things that are available in stores. (Well not intentionally anyway lol)

[summerdesires]

Selling your own handmade items would help in reducing the prices of each item.

[mam98031]

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@summerdesires wrote:

Selling your own handmade items would help in reducing the prices of each item.

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Likely it wouldn't unless you don't charge for your labor.  

That is what I started selling on Ebay many years ago.  Stuff I made.  I was making enough to keep paying for the supplies and other costs of selling, but I wasn't making anything to pay me.  So I phased that out and moved on to other things.

But if you can sell them and still pay yourself, I think that is great.

[moondogblues]

"Sell something expensive to a high sales tax state and another bite of your pie goes away…."

How can that be true when it's the BUYER who pays the sales tax?  Does eBay take a bite of that too?

[moondogblues]

"Which is why finding a niche and selling the odd, the vintage, the unique could be a better business plan for small time sellers."

YES!  This is the only place where I can shop vintage/collectible from the safety of my own home.  I wish eBay would realize that.  If I need groceries I can get pickup (but I have to go 18 miles one way to town).  Walgreens delivers, so does Chewy and Nuts.com...I don't have to worry about food.  But to feed my collectible-itch?

EBAY!!!  My point?  Sell unique stuff.

[varebelrose]

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@moondogblues wrote:

"Sell something expensive to a high sales tax state and another bite of your pie goes away…."

How can that be true when it's the BUYER who pays the sales tax?  Does eBay take a bite of that too?

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The eBay Final Value Fee percentage sellers pay is based on the total paid by the buyer, including any sales tax the buyer pays, as well as any sales tax on the S&H portion, so yes, its a bite of the pie.

[luckythewinner]

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@krazzykats wrote:

The Secret to increasing sales is...

REDUCE YOUR PRICES!

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IMHO the secret increasing profits is having prices you can reduce and still make money.

Because if you are selling at a loss, increasing sales is the last thing you want to do 🤣

[meme6253]

It Very Well might be the way to increase sales, BUT it is the WORST thing for your bottom line, After everyone takes their piece,You are left with Pennies!