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I haven’t listened to the podcast yet, but am looking forward to do so on my commute home today.
My numbers for the week aren’t horrible, but could be better for sure.
Transactions: 11
Items in Store: 511
Total Sales: CAD 233.52
Cost of Items Sold: CAD 62.44
Highest Price Sold: CAD 59.17 – Kawasaki Ignition Coil
Average Price Sold: CAD 21.22
Returns: 0I think one of the reasons for my slow sales is that I don’t have many decent bread and butter items in my store.
One reason for that is, that I was / still am a bit afraid of big purchases. That’s why I pick a bit here and a bit there, which costs more time than money.
Yesterday I bit the bullet and went to the 90% OFF Sale at Plato’s Closet and bought 80 items for an average price of CAD 1.34. It’s an experiment for me, to see if I can handle bigger lots of clothes or if I lose interest half way through and just throw it on my deathpile…
I also will learn if clothes can be my bread and butter and if I just can replenish my stock every few months at this sale (it’s 3-4 times a year) and work away at it until the next sale.
I am aware that 80 items won’t tie me over for 3 / 4 months but again, everything starts as an experiment and I would still add other items to my inventory from yardsales etc.
A big Question for me always is time. With a full time job, a long commute and several responsibilities in life I just don’t have the time to go to thrift stores and thoroughly go through them on a regular basis so I have to figure something out. Sourcing these items cost me about an hour. So that’s a pretty good ratio I believe. Assuming the items actually sell. lol
So far I’ve learned that being the last person at the sale doesn’t leave you with much. (Although I found some nice gems) But I also learned that it’s way out of my comfort zone to push my way through other shoppers during peak time and load up bins / bags etc. I just don’t like being an inconvenience to others. Lol
So I have to start somewhat within my comfort zone and build up on that. This time I contacted the store, introduced myself to the manager and went at the end to pretty much pick up the left overs. I am hoping to establish a good relationship with the manager and maybe get some perks along the line.Pet Peeve of the week: Why do people think they’d have to judge your pricing?! I started selling on Mercari a few weeks back and instead of Sales, I get messages how overpriced my items (especially 2 hats i have listed) are. Which wouldn’t be a problem if people would have a friendly way of communicating. If you don’t like my price, send me an offer and if you don’t have anything nice to say just say nothing at all and feel free to ignore my store. Are these items overpriced? Maybe… Do these douchey messages just provoke my stubbornness? …. Absolutely. So these hats will sit there until someone comes along who doesn’t have a problem with my price, contacts me in a friendly manner and makes an offer or until they turn to dust in my inventory room. I don’t care!
That being said, as there are no sales coming in, and people just communicate to lecture you… makes me not want to sell on this platform anymore. Sad but true.Anyhow, I wish everyone a good start to the week and may the tomorrow always be better than yesterday!
My first Numbers Report here, is a sad one.
Items in Store: 486 Ebay
Sold: 3 (1 of them on Etsy)
Revenue: CAD 115
Average Sales Price: CAD38
COG: CAD18
Profit after Fees and COGS: CAD84I haven’t listed to the podcast yet, but do remember the first interview with the guys from passport Vintage and I really enjoyed it. So I am very excited to hear the follow up.
Hi Daniel,
thank you for your kind words.
It has been an interesting ride for sure and I am glad too that I discovered Jay and Ryanne.
The podcast keeps me grounded and motivated, especially through times when eBay seems “slow”.
It’s nice to listen and see that it’s possible to make money reselling but also be reminded that it’s a process and a lot to learn and that there is no such thing like a blueprint. What might work for me might not work for you and vice versa.
I hope we are all here to enjoy the ride and the rest will fall into place! 😉Yes, it does sound very easy and then you actually have to do it.
My loss wasn’t as big as my frustration.
But again, everything happens for a reason and I feel much more comfortable on ebay. I found out I am like you…rather find the cool stuff than scanning the clearance section at Walmart. 😉
Although I have to admit I occasionally still do it. 🙂Hi Jay!
I still need to learn the whole slowing down thing but at times I get carried away, thinking I am not working enough on my ebay business.
I was too inexperienced and uneducated when I started selling on Amazon. I got convinced by all these “Gurus” that it’s a piece of pie and you just need to “hustle”. But actually it’s not. You need to know way more than they make you believe and figuring it out along the way didn’t work for me.
I dropshipped a couple fidget spinners from aliexpress and they took way longer than expected which brought me a couple refund requests and bad feedback. Understandably so.
I got kicked off because I listed a restricted Toy. Just being naive and thinking that when I can list it, I can sell it because I’ve always been told through the app when I wasn’t allowed to sell something.
So I listed a “Marvel” item and when it was processed at the warehouse I needed to be ungated.
I am not sure if they gated this item while it was on the way, if it was singlehandedly my mistake or a glitch in the app. I’ve never received an actual answer to my questions.
Anyway, they didn’t accept my receipt from the toy store and kicked me off the platform.I had to retrieve about 4 or 5 boxes of inventory from the fba warehouses and it was an expensive lesson learned.
Looking back I should have educated myself more on the topic and not listened to the “Gurus” I guess. But wouldn’t I have had to get rid of all the stuff I accumulated I wouldn’t have fallen in love with ebay and eventually scavenging. Everything happens for a reason and seeing the changes in fees and the race to the bottom etc… Maybe I dodged a bullet.
