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MyCottage: I hope so on the lower FINAD rate. It was weird that after we went to Free Returns, our FINAD rate goes up. In all cases, they were not really INAD, but I really don’t have a recourse to fight the INAD, so I just have to eat it.
That was my ask to eBay that if I offer Free Returns on a sale, if the buyer wants to return, take them down a different path to deemphasize the possibility for INAD since I’m ALREADY providing Free Returns.
Atomic: Yeah, at their scale, I think 100% would be very tough to get to (but a goal they should look at.) But 99.4% I think is also something they should improve upon.
Very nice. Are you an average 10X seller (sell for 10X your buy cost) or more of a 4X-5X seller? And with that growth to $50 ASP, do you think your Sell Thru Rate will remain the same, or will those items take longer to sell?
Retro: Wow! so glad we don’t have much of that in Colorado!
Yeah, 99.4% feedback. Interesting though. Check out the negative reviews and see how many repeat bad reviews this month. Looks like some trolls….
Yeah, interesting to see how they calculate the metric. If it is your ranking across all sellers, then yeah, I’m betting that folks like you and me are in the top tier. But if they are mixing us with the sellers of New as well as Pre-owned, and also calculating by volume (all items together), then we are also thrown in with the BHFO and the like. That would push us down…
AtomicStar: Now, this is supposed to just be INAD cases, not overall returns. So for INAD, that may be a bit on point. But yeah, I know the sellers you are talking about….
Jay: That would be great and I think really interesting. We came into this business from different paths, and since we run different types of businesses, it would be fun and informative to see how the numbers can work in different ways.
You’re the chocolate, I’m the peanut butter. You’re a little bit country, I’m a little bit rock ‘n roll (if anyone gets that reference…)
Hit me up and I’ll be ready. Maybe around the end of Q3 and going into Q4?
To Bill Williams who called in to the show and was asking how to net out your profit when something sells. I would recommend for you to get the Easy Auction Tracker spreadsheet which will do this for you and for only $50 for the year.
I have a file that I’m finishing today for some people that asked for it that will do numbers for you on a total basis (per week and per month). If anyone else wants my file, just let me know at tsatterf@yahoo.com and I will send you a copy of the file.
+1 on the caller that said you need a plan for how things can get done if you are gone! Great inventory process (why I did this on clothes and now Veronica is doing on shoes, plus why we are prepacking items going to the warehouse) and procedures for how someone else can take over. With my Hike next year, always foremost on my mind, and it really helps you think, analyze, and improve your business.
PS-Loved the facetime comment. I do that if I’m shopping for shoes for Veronica and I’m on the fence. I Skype her, show her the shoes and price, and she makes the call. Helps me learn and we buy smart!
Week of 7/29-8/04
Total Items in Store: 2,498 (Up 63% YOY)
Number of Items Listed: 84
Number of Items Sold: 79 (Up 80% YOY)
(Includes 4 Etsy, 0 Bonanza, 0 TrueGether)
Weekly STR: 14% (Up 1% YOY)Total Product Sales: $2,206 (Up 127% YOY)
Cost of Items Sold: $436
Highest Item Sold: $114 – Under Armour Bozeman Speed Freek Hunting Boots (She swooped in at the last moment and took out my $100 suit!!!)
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 18-13eBay Clothing
# Listed: 1,612
# Sold: 60
STR: 16%
ASP: $27.64eBay Shoes
# Listed: 324
# Sold: 9
STR: 12%
ASP: $31.57eBay Hard Goods
# Listed: 562
# Sold: 6
STR: 5%
ASP: $23.37Etsy Hard Goods
# Listed: 159
# Sold: 4
STR: 11%
ASP: $30.59July 2018
Number of Items Listed: 429 – (Forecast 450)
Number of Items Sold: 303 (Forecast: 296)
Monthly STR: 14% (Forecast: 13%)
Monthly ASP: $29.59 (Forecast: $23.41)
Total Sales: $8,965 (Forecast: $6,927) – Increase of 82% YOYBusiness Improvement for the Week – Begin CrossPosting to Poshmark. This is on my side, manually crossposting a few items per week to Poshmark, and marking the items in SixBit (and therefore eBay) with a “PM” at the end of the SKU so that if an item on eBay sells, I can see the “PM” on the SKU and know to remove it from Poshmark. Obviously everything that sells on Poshmark will have to be removed from eBay through SixBit. My thinking that if I don’t have a good STR and results in the Q4 timeframe, then it won’t be good during slower times. For now, looking to start with my higher priced items first and work my way down, as I feel that the higher items can absorb more labor to sell them and we obviously want the higher items to have more chances to sell.
Q4 Prep work this week – To get ready to maximize Q4, I need to take on the jeans and shorts work from Veronica (She is keeping shoes for now) so that she can have more time to work on Hard Goods. Our Hard Goods always have a great STR in the later part of the year, so since we have a little bit of a backlog on them, and I can do Jeans and Shorts easily, I need to do more of this type of listing to free up her time.
Listening to the podcast now while I’m shipping. To clarify, the multi-user access to your eBay account was discussed in one of the big General sessions, so it should be coming. Mohan discussed it would be 2019. I would think around mid-2019, as they hinted at early 2019, but I would plan some slide into that timeframe.
Just wanted to thank Jay for the interview, I had a great time and would love to do it again if there is any interest. I also want to thank all the Scavengers out there for expressing their gratitude for the info. And to a few special Scavengers that are asking for me to do some videos on eBay numbers, putting together some spreadsheets, and how to use numbers to forecast. I’m looking into it now, I just have to carve out the time!
MMVI: Very impressive numbers! Very solid ASP and Revenue for a sub-1000 listing store. Is that around your normal set of numbers?
“I find that as anything the more attention you pay to a venue, the more you get out of it.”
Amen to that!
08/03/2018 at 10:13 am in reply to: Scavenger Life Episode 371: T-Satt (Troy) Reports on eBay Open #46775So, you are focused on books. I’m assuming that this is a pretty long tail business, correct?
Gotcha.
When we get a weird situation, I always get on the phone immediately to see what I can find out from eBay’s side, if nothing else to get on their radar that I had an issue.
I do think that if buyers send an offer, it seems to bypass some of the shipping policies. I have seen weird issues come up on offers that way.
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