Online buying and selling is one of the expanding business now and all the people have transferred their business to a virtual platform because of the increase in number of people. If you a business or a person that want to sell their stuffs or products then you should consider selling them online.
This could be a great side hustle if you know the right moves. If you know how to buy cheap things then re-selling it for a profit then it is the time that you should use an online platform for this purpose. This will reduce your hard work and you would save a lot of time too. As retail arbitrage is practiced by many peoples and many people are making a living out of it, so today I am writing about one of the most successful platforms for online selling and buying of products and that is eBay. In this article I will share some tips with you through which you can help yourself to get more money for the product you are selling and you would be able to make sales effectively with high margins, you can also check out our other blog about similar sites to eBay.
1 Sell the Products That You Know Well
Performing the art of retail arbitrage on eBay is quite a fun and you could buy many things for low and could sell them for a higher price. But if you want to take a start with it, then you should not be going and buying items in a hurry. You should only take a start with the products that you know the most. Because if you know about a certain product then you will be able to find out that whether the deal that you have seen was good or not and with the knowledge you have, you will be able to find a good deal for yourself and after that you would be able to make a big profit on the product that you just resell.
In the start it is not wise enough to take a start so I will recommend you to stick on the items that you have the most knowledge.
2 Checking the Old Prices
Before you buy a product that you want to resell or even use, you should first go and search the old price of that product. By checking the old price, I meant to say that you should first check that for how much that product was sold the last time. By going through the listings you would be able to make a good idea of the price that it was sold for. Now as you know the right cost of the product, so you can make the right decision about how much you should pay for the product that you are going to buy. So that you could make a good profit from it. TO take a look on the listings you can use the smartphone app of eBay that is available for both android and iOs operating system.
3 Don’t compromise Quality while buying
Damaged and incomplete products do not pay well and it even creates a bad impact on your customers. If you want to be successful then you should keep some happy customers around you. If you are selling a product with a minor damage and you are clearly talking about, it can still hurt your reputation and it will not provide you enough profit. So instead of buy items that need repairs and damaged stuff, you should only buy quality items that are in good working condition and are in good shape. Products in good condition will help you to get a higher profit.
4 Buy Items with High Margin of Profit
If you are buying and selling those products that can only give a low margin like $5. Then you are not doing it right. If you buy an item that can provide you a profit of $5 or less and then that product is returned by the client for some reasons. If this happens and the shipping cost was $4 then you would have to bear a loss of $8. For this sole reason, you should only trade in those products that can provide you high margin on profit easily.
5 Describing Your Product
One of the things that matter the most when selling something is the way you represent that. If you are not providing the complete details or you are not writing in a proper way then there are less chances of making a sale. If you want to make quick sales, then you must write detailed description of the products that you are going to sell. You should write all the positive and negative details but do not say that your product is a bad one or of low quality. For example, if you are selling a smart phone that has a low memory of 8GB then you should just write that the mobile has a memory of 8GB instead of writing it low. Mark the benefits and features of the products in detail and write things that will attract peoples. By this you will be able to engage more customers.
6 Offer a Lower Price than Others
A slightly lower price can help you to make a quick sale than others. If you want to sell items quickly and successfully then keep the price of the product slightly less than them. By this your product will get more attention and you will make a sale quickly. Let me give you an example, if you find a product and the same product in the same condition is listed for the price of $150, then you should keep your price at $140 or $145. These $5 to $10 will help your product to be chosen when someone will compare the items.
7 Think about the Shipping Fee First
If you are selling your product on eBay, then you must think about the shipping fee before you list a product to be sold. The shipping cost can make a difference in your profit that you would not like. You should try to find a cheap option for shipping and you should be honest with your clients about the shipping fee. One of the better method is to provide to add the shipping price in the product price before listing. Make sure you calculate it right and if there are certain changes within the deal then you should change the price accordingly.
8 Maintain a 100% Feedback
If you are a buyer on eBay, you can provide feedback to the buyers about the products and this will determine their ratings so as a buyer if you do not have a positive feedback then you might suffer because people will not like to buy from you. Try to keep your customers happy and satisfied. For that you should ship your items quickly, communicate well with the customer, packaging the product in a safe way, providing all the details about the product. By this your customers will be satisfied and you will be able to get more 100% feedback.
9 Different Payment Options
As a seller, you should try to facilitate your customer in the best possible way and for that you should provide them the liability to pay through different channels. You can allow them to pay via debit card. By this the customer could easily but you have to pay the fee to the credit card company.
10 Make Clear Pictures of the Product
As I talked about the importance of detailed description earlier, it is also important to add some clear pictures of the product with the listing. So that you could satisfy the customer in a proper way. By providing clear pictures you can also attract more people towards your listing. When buyers want to buy a thing, they definitely want to know what its look like because a surprise may result in a return of the product.
By providing clear pictures from different angles, you may get a reputation of a good and professional business. Thus try to make the best pictures with a good background so that it could attract more customers.
11 Register with the Best Possible ID
This tip will help you on longer terms. As if you work that hard on a city like eBay, you will get a good reputation and a 100% feedback. People will search for you through the app or website. So if you want to take this to a broader perspective, you should try to get the best and easy user ID that people could remember and in case if they need an item, they could easily find you by your user ID.
These are some of the legit tips that can help you to make more money on eBay. These simple tips could help you make a good business platform and engage a lot of traffic. So you should follow the steps with full devotion so that you could make the maximum profit on eBay.
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