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As I always say…
You can climb on the bus or get of the sidewalk…but I’m driving!
Tony:
“Know your stores numbers, know what your average selling price is, know what your monthly replenishment cost are, know how much inventory you can even find each week, know what your monthly sell through rate is, know how much your monthly bills are, don’t buy junk, don’t quit your job until your sure you can do it.”
Best paragraph I have seen on this forum. Glad to see you on the rebound here!
debitendcredits: Hailing from my (almost) hometown… ABQ! Where are you located? I grew up in Bernalillo and Edgewood, but spend a TON of time in ABQ.
Let me know where the good spots are out there. I have a couple of places that I have tried when I visit family, but mostly no bueno. Maybe I need to hit up the Rio Rancho area since it has built up so much since I left.
MyCottage: Very good point. Excellent conversation!
Jay: “Troy, look into my eyes. I am the ghost of xmas future.”
Now THAT was funny!!!
I get it and I agree, and yes our inventory has doubled (and will probably grow to about 4000-5000 to be where we want to be). My only point is that there is always a good reason to review your listings periodically, especially in the space that we are in. I have seen Miss Me jeans that used to sell in the $50 drop to $30, Silver Jeans that were $30-$40 are now in the $20s. For us, reviewing the market is a reality. We just CAN’T be List It and Forget It…it doesn’t work in this space.
And even some collectible and holiday items are similar. Veronica can speak more to this, but price realities change, eBay categories change, etc. She even recently took new photos on a 2 year old item, relisted, sold in a week. Would it have sold without it? Who knows.
I just see the value in reviewing what we are selling periodically to see if it is still a good listing. Not all the time, but 3 times a year for us has worked out.
PS – Yeah, that bump from 30 day listings was $200-$300 a month, so worth it for $2,400-$3,600 a year. And with a bigger inventory now, that bump should be bigger. No worries, we will be able to handle it through SixBit…
So, you know that I (was) in the 30 Day camp, as I did the analysis and saw that we saw sales activity increase in the first 24 hours of a listing and in the last 24 hours of a listing. This will now go away except for the first 24 hours of a listing being sent.
Also, every 4 months we would do a deep dive as listings fell off so that we could ensure we didn’t have issues, recheck prices, etc. After we did that this time, our sales have improved, and we have a better look at the market. We saw a lot of places where eBay moved on us (changing the preferred Item Specifics, changing categories, etc.) that we missed, as well as us adapting to current market realities in some areas.
Third, we know that listings that are 60 days old without a sale are market by eBay as “stale” and dropped in search. For unique one-of-a-kind items, this isn’t an issue, but for clothing and shoes, this matters.
So for us, we adjust. With SixBit, we can look at listings to see the last time it was listed, the last time modified, etc. So we can still do this work, but we did like the boost. I’m hoping I can get SixBit to have a program to end listings with the criteria we set (like a reverse Auto Relist, it will Auto Expire). This will help give us a group of items to work on that are on the criteria we have established to reexamine.
So, we may all now be in the GTC group, but I’m still not List It and Forget It. We know that after a certain time, listings can be Listed and Forgotten…
Large inventory isn’t what we want, it is large sales. And I don’t want a batch of inventory that isn’t selling. That investment of capital could go somewhere else…
Yep, takes time to get the selling flow. For us, when we crossed 500 items (and we made Posh Ambassador at the same time), we started getting more consistent sales. Still a bit slower STR than eBay, but we also are trying the higher items (usually a lower STR) and looking to see what sells well.
02/28/2019 at 4:03 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57874Well done. I want to be you when I grow up SEAM!
02/28/2019 at 4:02 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57873Paulo: You have me intrigued…
So this service puts your listings on the international sites (so eBay UK) but showing that you are a International seller (to eBay UK), therefore shipping is correct to the buyer, correct?
Then are you shipping through this service on those sales?
02/28/2019 at 3:57 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57870The 286…wow…you are really going old school!
I remember how the Pentium was the Ultimate in speed! I did a paper on it my Senior year…
02/28/2019 at 3:56 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57869Well done SEAM! That $15k is also after your consignment payouts, correct?
02/28/2019 at 3:51 pm in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57866I LOVED WOLFENSTEIN!
Spent a lot of hours on that while in college working in the PC lab. Back when no one had computers in their room…
Sounds like the wild west now…
02/28/2019 at 10:50 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57848Love it Inglewood!
02/28/2019 at 10:49 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57847Mike: Totally agree.
I’ll probably hit the SixBit one first, showing how I use SixBit to manage inventory, especially how I crosspost and manage PoshMark on SixBit (so fast since I own the data rather than it being on a website). Plus how to find things quickly. I’ll probably take some other questions ahead of time to structure the time.
02/28/2019 at 10:46 am in reply to: Scavenger Life Episode 400: Tax Season Advice for Newbies from Strangers On The Internet #57846Geoff: I like that part too, and SixBit handles the price change over time as well. You can drop or raise prices every relist by $ or by %.
I’m hoping to hear how they will handle the change with eBay going 100% GTC for fixed price listings. I would love them to create a process to end any listings that have 0 sales after a set period of time so that I can look and review them before relisting.
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