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My Store Week July 1-7, 2018
Total Items in Store: 1057
Items Sold: 16
Cost of Items Sold: $35.80
Total Sales: $304.63
Highest Price Sold: 35 (Vintage Board Game)
Average Price Sold: $19.04
Returns: 0
Money Spent on New Inventory This Week: $26
Number of items listed this week: 32No notable sales and it has been an uneventful week. 50% of my sales – 8 out of 16 were from running promoted listings. I haven’t had a chance to do any exciting sourcing this week – just a quick run to the goodwill down the street (which always makes me feel ambivalent coming home with a giant bag of .99 cent clothes that I’ll be lucky to sell for $20 – but I want to keep up the momentum and this was all I had time for this week.
Happy Selling and off to listen to the remainder of the podcast!
Hi Friends,
I’m joining this thread – just hit 1000 listings – it has been a long slow steady climb and I’m finally here 🙂Jay – 30 Day (and a few GTC). Both were pulled in… Most of my listings are 30 Day Sell Similar.
If anybody is aware of such a tool – let me know. Nobody has mentioned keywords in a long time, so maybe it’s a moot point.
I wanted to follow up –> I was able to run two consecutive 24 hour sales on my 30 day listings… so markdown manager is working as expected now. You can successfully put an item on sale (Day 15.. and then put it on sale again Day 16).
He is probably trying to create some anticipation and excitement – I *almost* felt like watching the guy just to see what he eventually puts up.
Man, I loved those lamps!
Hi Jay, I don’t think anyone is worried about “Failing” – some people just love analyzing their numbers! I think about your comment “If you won’t buy at $50 then you aren’t going to buy at $5” ALL THE TIME, and I have for the most part stopped doing auctions and haphazardly lowering prices. (Sometimes I will RAISE the price, and then it sells – like you said, it’s just waiting for the right buyer.) I like the idea of calculating STR, for a sense of predictability and also to get a benchmark on where I’m at and if I am improving. I want a higher ASP AND a better STR – I think we all want that!
OK, so now my head is spinning. 🙂 Thanks for the info next time I am up late in the middle of the night I am going to be thinking about T. I think my high Q’s are already painfully obvious without having to calculate anything. I’m always happy to dump those and/or give them away at a low cost.
How do you calculate STR ? Just number of sales (per week/month/YTD?) / number of listings at any given point in time? Do you do a “short term” STR ie: how many new items that were listed in a particular month that sold / all new listings per month? If THAT number is going up over time, wouldn’t it tell you that you are getting better at scavenging? I am curious about how other people calculate their STR.
Yes, Almasty, that is the question – what defines “Success” ? High STR? # Sales? Money?
Hi Luftmentsh,
This is really a great economics lesson for the uninitiated. I like the idea of a Potential Profit Index. I have been planning to do this informally by going through my 2+ Year Old inventory and discounting it to move it – so it is nice to have a formula to quantify what exactly I’m trying to measure if I need it.One comment/question – you mention wanting to sell high-profit items quickly, and low profit items eventually – yet I think I am the opposite. I always think about moving low profit items quickly (I consider them a “bad investment” taking up space and resources) and am willing to wait a long time to maximize profit on profitable items. Just wondering your take on this because you are very scientific in your approach and I appreciate your perspective.
MyCottage, Thank you, I appreciate it. I missed that. This is too bad they are removing this feature. I wonder what will happen to the existing keywords that can’t be updated or changed – they will probably be stuck indefinitely the way they are. Probably most people don’t care… but… I was getting additional sales from using this.
Thank goodness I can still do sales on the back half of my 30 day listings day 15-30… which I plan to continue to do every 24 hours. For my store, I am convinced that sales make a difference – a lot of clothes and shoes – but sales make everything move – even stale obscure inventory. I ran a sale today and it picked up 25% of my inventory – I will try again tomorrow to verify what happens.
Hi Marjean, Thanks for mentioning that – I saw this last week and have been contemplating if I should “downgrade” to 14 day returns in eligible categories with free returns to still maintain TRS+… For now, I have Free Returns on most of my listings and 30 day returns on everything. I have not received a free return yet… but this is good to know in case it starts becoming an issue.
From the Seller Hub:
https://pages.ebay.com/seller-center/seller-updates/2018-summer/simplified-returns.htmlVery bottom of the page:
Certain product categories have unique retail standards and sellers of those products will be able to offer variations on the updated returns policy options. Categories that will continue to have the option to offer 14-day returns include Collectibles & Art, Cameras & Photo and Medical, Mobility & Disability Equipment.
