You are ready to build a enterprise on eBay, you think you have discovered a distinct segment to promote in, but you're not sure whether or not or not your merchandise will sell. There is just one solution to discover out for certain - test marketing. But unfortunately many eBay sellers skip this all essential step.
What is Test Marketing?
Test marketing is the process of listing samples of your potential new inventory on eBay solely for the purpose of figuring out buyer demand for those products. To carry out a market test, you purchase a couple of items of the product you plan to promote and put them up on the market on eBay.
From there, you test and track to see which merchandise have high buyer curiosity, which merchandise sell nicely, and which products do not.
After you have completed your test marketing, you'll have a clear indication of which products have selling potential and which ones don't. And you're now positioned to make an knowledgeable enterprise resolution as to tips on how to proceed with buying future inventory.
An All-Too-Common Scenario
As important to business as this fundamental is, unfortunately both new and experienced eBay sellers ceaselessly skip this step, often leading to an unprofitable outcome.
Let us take a look at an example:
Jack, who's brand-new to selling on eBay, gets his business license, registers to attend a trade show, and hits the trade show floor running. After speaking to a number of suppliers and performing some basic market demand/pricing research on ebay business
, Jack returns to the trade show flooring on the final day ready to place orders. Excited that he is found suppliers who are ready to do business with him, Jack places three massive orders for various product lines.
Three weeks later, the inventory arrives at Jack's house. He lists it on eBay, and 42% of Jack's new merchandise sells pretty well. A few items are super-hot. The remainder of the stock is a disappointment to Jack. It either doesn't promote properly or it barely sells for what he paid for it.
Jack is now frustrated because he has $1,seven-hundred in unsold inventory sitting on his cabinets and from the appears of it, he can have a tricky time shifting it. To make matters worse, Jack calls his provider to reorder his prime promoting merchandise and the merchandise are back ordered resulting from high demand. Jack will not be able to get more stock in for an additional six weeks.
An unlucky place to be in. And one that might have been avoided if Jack had test marketed his new merchandise before placing a volume order with his suppliers.
Test advertising does indeed take some extra time upfront. But it can prevent from marking down 1000's of dollars of unsold merchandise on the back-end.
For the definitive reply to the question of "Will it sell on eBay?", test marketing is a must.
It's the best way to keep away from expensive mistakes in purchasing the flawed inventory, and will function a information in purchasing the fitting styles in your product line.