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Product Sourcing For Ebay: What Are 3 Things You Need To Do For Successful Ebay Sales?
Dig your old unwanted stuff out of the closet/attic/garage, dust it off, take a digital photo and upload it on Ebay. Make some money and clean out your closet at the same time. Sounds good to you? This is the way many power sellers on Ebay start out. Then they figure out that, "Hey! If I find more stuff to sell more often, I can make more cash like this." The answer to getting more products to sell regularly is product sourcing for Ebay. This article outlines 3 steps to a successful business on Ebay.
Step 1: The Best Items To Sell On Ebay Are What's Hot On Ebay
Look up Ebay Pulse, Shopping.com's Top Searches report and Amazon's Best Sellers lists to get a list of the best items to sell on Ebay. Obviously, Ebay Pulse is the best choice because it is published by Ebay itself, but the other two lists are also frequently helpful.
Normally, you want to sell items with a high turnover. Since you are using Ebay Pulse, you'll be selling only what's hot on Ebay, so you don't have to worry.
Next is to correlate this list of hot products against the closed auctions. Jot down the prices of sold products. Find the lowest price, highest price and most frequently seen (median) price.
Step 2: Wholesale Dropship Supply
Now that you have your list of prospective products, you need to find suppliers for them. Since you don't want to hold inventory, your vendor needs to directly dropship the product to your customer.
You can find lists and directories of wholesale dropship supply companies on the internet. Some of them are free, but if you want up-to-date information and more useful information, you need to pay. What other information do you need? You need to know what products they produce/sell, and how much the wholesale price is for those products.
So you take your list of products (with prices), and cross-reference it against your list of wholesalers for Ebay sellers. Your final shortlist will contain hot products on Ebay which you can sell for a good margin plus one or two good suppliers.
Step 3: Set Up Your Auctions/Stores
Pick one product from your shortlist, something which you have a good feeling about, and start doing some competitive analysis. Look at the closed listings which got the best prices. Try to figure out what made them tick and do something similar for your own auctions/stores.
Your first few auctions may fail, but if you persist you'll eventually find the secret to selling that product. Once you have mastered selling that product and can do it in your sleep, it is time for you to diversify your portfolio.
Pick a second product with a different vendor. Your second product should be completely unrelated to your first product. Rinse and repeat the steps above.
Once you have three or four different products in your portfolio, you'll be earning a steady and consistent income throughout the year.
If you've ever sold something on Ebay, and want to make a nice little side-income, try product sourcing for Ebay. This one of the strategies used by power sellers on Ebay to make their living.
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