Forum Replies Created
-
AuthorPosts
-
Jay and Luftmentsh: My thoughts on the continuing conversation.
Luftmentsh, I agree that your formulas are a good tool to use for identifying items that are getting stale and need to have some review. And there is some validity in having the higher priced items indexed to the top: Since they have the most profit, they can absorb the extra time spent in crafting a listing that will sell. Spending an extra 1 hour on a $100 profit item is more sensible than in a $10 profit item.
It is a subjective tool, so everyone can use to fit their needs. There is no hard and fast rule on $30 items. You pick the profit, you pick the threshold. Agree.
Jay, I agree on the commodity level items. Move them. The profit margins are lower, so churn and burn. On your second point, that is the potential rub. By listing a lot of items with little demand, there aren’t as many selling opportunities. This is why you need a large store to generate consistent income. If you are only fishing for a rare species of fish, you don’t have many opportunities to land them. So the risk is…what if you never find that fish? Or…you had an issue with the listing that lost the fish to begin with?
No, changing the price will not always result in a sale, but you can start too high and scare the fish away at the beginning. Or have a bad title, bad description, bad photos and never get the nibble.
For me, the important concept is to make sure that everyone has SOME type of review of older listings to make sure they are still good listings. Luftmentsh has a tool to assist that. We can all use it or not.
But are we all reviewing old inventory at all? If not, I think that is a risk. I can’t say that we are 100% perfect in our listings every time we hit submit. I know that for a fact, as I’ve seen and corrected mistakes (title, price, description).
What happens to portrait photos in Posh when you use them? I usually have a square for the gallery shot on eBay, bot some other shots that are portrait.
Does Posh crop them out? Or scale them down with bars on the side?
07/10/2018 at 8:14 am in reply to: New shipping label page on eBay is costing me more than classic shipping page! #44993Ick.
I get that too. I love the ShipRush interface much more. It takes a bit to learn, but once the setup is done, it is one click printing.
07/10/2018 at 6:53 am in reply to: New shipping label page on eBay is costing me more than classic shipping page! #44984I tried to recreate this on our end, but I don’t have anything that shows that there is a New Shipping Label page to try. Where did you see this option to try the new Shipping Label page?
Some people just want to watch the world burn…
I never figured out the point either…
Sigilini: Weird.
But I had a similar. Same person (under 5 different eBay logins) made and offer and failed to pay on the same pair of pants. I finally called eBay when I saw the pattern (similar names, and the same ship to address) to have the buyer blocked and investigated.
Agree. For me the numbers are an independent view of how you are doing. They are what they are.
The importance of them are to see if your numbers are going to provide the income you need in the future. Or how long it will take to recoup your investment in inventory, or investment in labor. Or they can show where you are this year vs last year and you can investigate why you are better or worse.
The key to me is that you can’t expect your store to produce 1 set of results when it has performed a different set of results in the past. Plus, they show you where your risks are. If you are low STR, know that and embrace it and understand that money you pay now (for labor or inventory) will not arrive until later down the road. Also know that if you are Churn and Burn and High STR, you will have to replenish your store regularly to keep revenue coming in.
So Jay and Ryanne can double their inventory in the past few years but only have a roughly 20%-40% increase in revenue. They get that and are comfortable with that. Cyndi can Churn and Burn clothing but she knows she will have to keep working hard to keep those high numbers. And she does! (she is a machine).
But don’t list like Jay and Ryanne but expect results like Cyndi…
Know how you run, understand why, see if you like it, change if needed.
Find your version of “right”, and understand the risks and rewards.
Glad it worked!
Because it is a grind, hard to scale, and less $/hr.
But I think a great place to start. Learn the ropes, low initial investment, quick results.
Then level up, both in speed of listing the High STR / Low ASP items, and then adding Low STR / High ASP items.
Get lots of singles first, before trying to hit home runs every time. Cause Dingers don’t happen that often, so be ready when they arrive.
Ouch. Been a long time since I played in that sandbox. I always did them one at a time as I was listing.
Once you have one template sitting as a draft listing, you should be able to copy that draft and make multiple copies from there. I think I did that before…
Luftmentsh: Good point on that. True that any $1 cost item isn’t an issue, but how about 1,000 of them? This can escalate over time.
For me, high profit is in $. Very few $1 COGS sell for $100. Most are in the sub $30 range, and I think the vast majority are sub-$20. Low investment cost, but low cash return as well. For me, I would like to get those out ASAP.
Items that sell for $50 and up are ones that I can usually decide to sit on for higher $ at time of sale (all things equal in terms of demand, storage costs, etc.)
From Seller Hub, click “Create Listing”
Bottom of that page will show any templates you have, and you can also manage the templates (create new, edit existing, etc) from there.
Just use the right template and it creates a draft listing automagically…
🙂
Retro: Here is how we get by that.
We use a Google Doc Spreadsheet that has the next item number (just a list of numbers, we are at 11,000 now).
Each time we create a listing, we add it to the sheet, and the next number is the SKU. We add the inventory location at the back.
So, SKU 11000-C5 is a casual shirt in location C5. SKU 9549-SUIT1 is a suit in SUIT1.
This makes sure we have no duplicates. Plus, I can quickly use SixBit to find out how many items are in each location. I just search for inventory in -C5 and I can see how many shirts are in that drawer.
-
AuthorPosts