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Bourbon and JoeMezz: Poshmark requires square photos, so that is the issue. To that end, we have started taking ALL our photos in square mode.
Bourbon: I’m not deep into this yet (only started a couple of months ago), but here is my experience:
Right now I’m crossposting to Poshmark and Mercari. I have both sites up at the same time when I do this. It takes about 1 minute to crosspost to each at the most. If I’m crossposting clothes, I will set up the Mercari site, then copy the title and description to Poshmark (I edit a little from what we have on eBay, adding the Item Condition and the SKU at the bottom of the Item Description). Then I submit them on both sites and update the SKU in SixBit (for the eBay and Etsy updating) to add -PM-MC on the listing. This lets me know that if something sells on eBay/Etsy if it is crossposted.
We enter the order in SixBit when something sells on those sites as soon as we can, but not from a crazy standpoint. Nothing has sold on multiple sites at the same time. If we are home and working when it sells, it will get removed within 30 minutes. Other than that, within a few hours.
For me, it is so easy to do that I think it is worth the time, especially since I’m starting with the highest value items first. If it increases the STR and Velocity on high dollar items, that is what I’m looking for. And if more shoppers are moving there (my own sons shop Mercari first), then I have to test where the buyers are…
12/18/2018 at 7:53 am in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53587Very solid numbers!
–Do you sell mostly new items?
–What type of items do you sell?Almasty: Yeah, I think they should do a First Class option, but I think they like the simplicity. $6.49 for Priority Shipping for everything up to 5 lbs.
Done.
12/17/2018 at 8:57 pm in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53569Amen.
The biggest thing about knowing ASP and STR is knowing context.
So…your STR is 15%. Is that good? Bad? Normal?
You can always (and I do) compare that number to three things: The past, my forecast, and the market.
The past and my forecast are easy. The market is a bit trickier, but that is one reason that I like seeing everyone’s numbers on the SL forum. You can see how you are doing with the rest of the market. If the market is averaging 8% STR and you are at 15%, that is good (or…your prices are too low, that is why sales are so fast). Same with ASP.
Context is key…
12/17/2018 at 8:52 pm in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53568Ryanne: Amen on everything you said. I politely tell them that the measurements they are asking for are in the Item Description…and that the tag with the size is one of the photos…
Yeah…
12/17/2018 at 3:53 pm in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53552Regarding the hourly rate, Inglewood and Mark S bring up great points. I think it is useful to know what type of return you are getting for the hours you put into your work, so you can reasonably forecast your future revenue stream as well as know what happens when you hire employees (you spend less time on each item, so higher throughput per hour, but you get less profit per item).
The key to me is getting reliable data on the time you spend (so track things for a month and get a reliable average) and reliable profit (same deal…what is your average net profit per item).
This is why I like to track things, to get good averages to use to forecast future return on our time.
12/17/2018 at 2:14 pm in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53536Doubly: Hey, you are still doing well for not being a numbers geek! 🙂
I think probably the best thing that should really be discussed about the numbers we use…is why? Why do I think STR and ASP are important? How does tracking those numbers help your business? Just because you have a number, what good does it do for you?
Maybe something to talk about deeply someday…
12/17/2018 at 2:11 pm in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53534Mike: I know that eBay is pushing for shorter descriptions. In fact, there is now a “limit” that they will use when converting your listing for mobile and for SEO to a certain number of characters (not sure, something like 850 is in my head). I see that Poshmark and Mercari are in the 1000 character range.
So, yeah, keep it short and sweet. You have seen ours (unless they are old)…straight and to the point.
Yeah, that has me confused too. The shipping that is paid by the buyer on Poshmark stays with Poshmark (it doesn’t flow to the seller’s account). Then the seller gets a postage label from Poshmark to ship from. Poshmark handles all of the shipping…
And it would be goofy not to use it, as Poshmark uses the tracking from the label that they sent to get you paid. Once the item arrives with the buyer, they have three days to accept the item. After 3 days, the item is considered accepted and the seller is paid.
If they didn’t use the right label…there is no tracking, and acceptance can’t get processed…so no money…
It will be interesting to see what happens when I start getting down to the lower priced stuff on PoshMark…
12/17/2018 at 10:05 am in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53503Christine: Had an interesting experience on Mercari. Got two messages on the phone back to back on some higher end suits, saying that the person is interested and please text him. I ignored it as I know this scam already. When later when into Mercari on my computer, I see that the notification is still up on these messages, but THEY HAD BEEN DELETED BY THE ADMIN.
I think Mercari is staying on top of this type of thing. I had similar messages when I started listing on Poshmark, but seeing how Mercari deleted them was interesting…
12/17/2018 at 9:50 am in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53500Yep! Veronica and I do it all the time. Good to vent sometimes…better out than in!
12/17/2018 at 9:01 am in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53493Yeah…me no like deep underground…
That is the ONE profession I don’t think I could do…mining…
<shivers>
12/17/2018 at 8:57 am in reply to: Scavenger Life Episode 390: Building a Business to Build a Life #53489ebaymom: When we get the sold/paid/cancellation…I get ticked off for about 5 seconds, then we refund and relist. The longer I’m in this game, the more I realize that this is just part of the game, and getting ticked doesn’t help at all. I’m trying to be more mindful about how I respond to this stuff.
Cause guess what? It is going to happen again… just the nature of the business…
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