When You Sell Online, It’s All About the Numbers

Jan 29

When You Sell Online, It’s All About the Numbers

When you’re an online seller of physical goods, it makes sense that the more items you have for sale, the more sales you make. Sellers can end up buried in physical goods, especially eBay sellers, if the items aren’t moving quickly OR if you’re not listing them. Amazon sellers can also end up buried, but not by the items themselves – by the fees. Amazon charges FBA sellers long term storage fees twice a year. If you’ve got excess inventory sitting there, it’s time to fiddle with it.

eBay Seller Mistake Number One

One of the things I hear most from eBay sellers is all the stuff they have to list but haven’t listed. It’s taking over the garage, the living room, the spare bedroom. I’m guilty of it myself. We have an entire corner of our living room filled with boxes of items to get photographed and listed while a corner of our kitchen is filled with boxes of things that ARE listed but need to go to storage.

eBay sellers love to find treasures. That’s the fun part of selling online. But in order to sell it, the item needs to be listed so it can be found.

That’s why our goal is to list 10 things a day, five days a week. We want to get up to 500 items in our store as soon as possible.

Sometimes this goes quickly, and sometimes not so quickly. I wasn’t feeling well one evening last week and ended up listing only five items. Imagine my surprise when one of those five items sold within 24 hours!

Also, we are getting more sales even at 190 items listed.

If you’re a swamped eBay seller, make yourself a deal. You won’t do anymore sourcing until a certain number of items – say 50 – are already listed. When you reach that goal, celebrate and then decide if you really WANT to go sourcing or not or if you want to list instead.

Amazon Sellers, Check Inventory Reports

Amazon FBA sellers can pull a transaction report each month and see what’s selling. If something is selling quickly, great! Get more of it and get it sent in!

But what about the stuff that’s not selling?

I know there are a lot of sellers that are only selling books or other media items. They’re not on the grocery / toy / pet stuff bandwagons. These books may sit for a long time before they’re sold, but the storage for them may only be pennies.

But it never hurts to go in and adjust some things. You don’t have to adjust the price if you still believe you’re asking a fair price. However, I’ve found that just going into my Amazon listings, tweaking descriptions and titles, adjusting prices – both UP and DOWN – tends to shake things up. I don’t know why, but I usually make a sale within 48 hours if things have been going slow.

Just because you’re an FBA seller and you don’t look at your items every day isn’t a reason to set it and forget it. Check your inventory reports at least once a month and make some adjustments. It may be time to let go of slow moving inventory and replace it with more of your best sellers. But you’ll never know until you check it out.

Make these steps a part of your work flow in 2015 and you should have a profitable year.

Stay in Touch!

Do you have any tips for eBay and Amazon sellers? Share in the comments or get in touch on Facebook or Twitter.

 

 

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