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Mike: 100% agree.
And well said!
Also think about getting business insurance to cover these types of losses. Ours is only $500 per year.
I wonder what will happen when PayPal goes away…?
What will the new company be like on returns?
We are Team Relist.
I can always have a sale for items on the back half of their listing time…
As a thought around this topic, I would recommend keeping a copy of all items listed as your own backup.
Mike and I discussed that a 4TB external hard drive are are around $100 these days. Good insurance.
We might fix the barn door after the cows come home, but don’t let it get out twice!
If that is the case, I need you here in Colorado soon. Gotta packing party on Hard Goods to move over to the warehouse, got shoe racks to put together for our expanded inventory, gotta inventory them (about 270 pair) and get their inventory set up in SixBit…
🙂
I’ll come to Hot Lanta and do some work for you too! Maker’s 46 please…or Henry McKenna 10 Year…
Thanks Mike. Yes please, shoot them to my email.
It will force me to get this done!
Thanks buddy!
Mike: Love your message. We are similar, though not as professional. You’re making me want this written out as well. I’ve wanted Desk Procedures for these types of issues so I can just cut and paste. Gotta get on that.
I agree with Mike’s approach. Normally I would ask for some photos of the damage so that we can make a determination of how to resolve. In this case, he could have just used the item and now wants it for free. So…I would go with Mike’s suggestion, and tell him you will offer a full refund if he returns the item.
And you won’t be responsible for international shipping. Only the domestic side…
Ryanne: While vague, we have always been told no to magazines via Media Mail due to the advertising (like Steven said).
Regarding record sleeves…that might work for media mail.
All this said…it is only an issue if they open the package. So, good luck if you get caught.
PS – Be prepared for your package to be opened if it is Media Mail and heavy. Every time we sold a book set…they opened the package to verify it was books.
07/04/2018 at 11:27 am in reply to: eBay apologizes for technical issues that "may have impacted" sellers #44408We saw it in Selling Announcements like Sharyn.
I appreciate the sentiment, but would rather that it was delivered to us in our inboxes. That way we see it.
Gotta be tough for them right now.
Now let’s just have them execute!
Luftmentsh: I would love our STR to be what it was in 2015!
Actually, we do have a decent seasonality. We always have a drop in July and August. July is usually the worst drop. If you notice, the decrease in STR from Jun to July is always sizeable. I’m actually forecasting (the gray boxes) a lesser drop this year (from 16% to 13%), but still a 1% drop from last year).
August is a bugger to some extent. We always have a bounce from July except for 2016. But then again, in 2016, we spent 4 weeks in Panama…no new listings…and then look at the jump from August to September when we starting listing again…
We sell clothing, hard goods, and just recently started shoes. We have expanded some clothing types that I think is helping ease our summer, and Veronica is killing with good shoe brands that are selling good right now that is helping as well. STR still looking good, just a lower ASP in the summer as well.
You can see that we always have a strong November and December. I’m tempering that right now, but hoping to win on the upside…
Simplico: I agree with you on some of the reasons for a degradation of STR as inventory grows. We all see it happen, and I have yet to see any numbers of a store that maintains the same STR at the 500-1000 level through to the 2000+ level. Unless the STR was sub 5% monthly when it was 500. At that point, the degradation is so small that it is hard to see. Going from 5% STR to 4% STR is a 20% decrease…but hard to see unless you are using decimals and tracking the % decrease.
I think that as you grow, your long tail items stay around and continue to become a larger and larger part of inventory, dropping the STR. I also think that bad buys hang around, bad pricing, bad listings, etc. unless they are reviewed and updated to get them updated and back into the world.
I think the important lesson is for anyone trying to forecast what their store will do in the future, ESPECIALLY for anyone considering going full time, you have to know what your store will generate with higher inventory. Whether you forecast your Sales by STR x Inventory Volume x ASP (my method), or simply Inventory Value in $ x STR, in either method, as Inventory Volume grows, STR will degrade.
Your growth will not be linear. Plan for a degradation. If you don’t have a degradation, GREAT! You win on the upside! But better to plan for a few stormy clouds and headwinds…
Amen to that.
Welcome!
Jay: Thanks. Good to know. I would hope PayPal would back us if we are offering full refund for a return.
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